After you’ve listed your boat with POP Yachts, here is an overview of what happens next and the overall sales process:
YOUR LISTING
After listing your boat with us, someone will come out to take photos, make a video and ensure the vessel worksheet is completed. This usually happens within a week, depending on everyone’s availability. It will take us 2-3 days to get all your photos uploaded, specs entered and information written.
As soon as this is completed, it will be sent to our listing specialist who will make sure everything is correct and none of the required information is missing. You’ll then be send the final version to approve.
If you would like anything added or changed, please let us know. This only takes a few minutes and is very important as it is the final inventory that is included in the legal sales documents. If anything is not correct, it’s better to catch this now rather than there be any discrepancies later.
INTERNATIONAL and LOCAL MARKETING
Your boat will now be featured on www.popyachts.com along with 160+ around the world including Boat Trader, Boats.com, OceanList.com, Yacht-Trader.com, eBay, etc. We now also advertise all of our listings on Facebook Marketplace.
Depending on your local rep, it may also be advertised on Craigslist, Facebook Boating Groups, Instagram, Twitter, LinkdIn and other social media forums.
If you’re currently only advertising your boat on Craigslist, Facebook and/or at your local marina, you’re missing out on thousands of national and international buyers.
BUYERS
We are currently working with thousands of active buyers around the world and get hundreds of new leads every day.
What sets POP apart from other brokerages is our website has NO ads. Also, serious buyer must register with their e-mail or phone number to be able to look at more than five photos of any boat.
This allows us to get in contact, find out exactly what they’re looking for and help them find a boat. Of course, they’re always welcome to just browse.
VIEWINGS
Before arranging a viewing, we always do our best to qualify buyers to make sure they are serious, ready and have or have been approved for the purchase price.
It helps to know your general availability and access to the boat.
If we have a serious, qualified buyer, we will always give you at least one days’ notice. We will never arrange a ‘last minute’ or same day showing, unless you prefer this.
REGISTERED BUYER NOTIFICATIONS
Occasionally you will receive a “registered buyer” notification. This will be someone who has either asked a question or viewed your boat more than 5 times online. Often these are questions like “Is this boat still available?”
OFFERS
All offers are made in writing to avoid any confusion or misunderstandings.
An offer might come from a buyer who has been working with one of our brokers who is not your local rep. These are often “sight unseen” and come out of the blue.
Once a written offer has been submitted, one of our deal managers will call, text and/or e-mail to let you know.
If it is full price offer with standard contingencies, you are contractually obliged to accept.
Standard contingencies are:
1) Buyer receiving a satisfactory personal inspection, in-water or haul-out survey and/or water trial, at buyer’s sole discretion.
2) Seller agrees (at Seller expense) to store and maintain vessel at its current location for a period of up to 30 days from the actual closing date to allow Buyer (or their designee) time to pickup/transport vessel.
If an offer is below your full asking price, you are not obliged to accept. You can counter-offer at what you will accept.
ACCEPTED OFFER
Once an offer has been accepted and signed by you, the buyer must make a 10% deposit into our escrow account within two business days to lock in the agreed upon price and take your boat off the market.
They then have two weeks to carry out all inspections unless otherwise stated in the contract. Until their ‘buyer due diligence’ is completed, they may still back out of the offer at any time, for any reason and receive their full deposit back.
If everything is to their satisfaction, they sign an “Acceptance of Vessel” and agree to move forward with the purchase. After signing this, their deposit is no longer refundable.
SURVEYS, MECHANICAL INSPECTIONS and SEA TRIAL
Once a buyer selects a surveyor, mechanic and/or rigging specialist, our closing coordinator will begin making all the scheduling arrangements. This can usually be carried out in one day, weather permitting.
You will be responsible for launching and captaining your boat for the sea trial or appointing/hiring someone to do so on your behalf.
ACCEPTANCE OF VESSEL
After completion of the inspections and sea trial, the buyer then signs the Acceptance of Vessel.
On the rare occasion that anything comes up in the survey or sea trial that was not fully disclosed in the original listing, the buyer may modify their offer amount. This is only if there is something major that was not previously disclosed and which significantly changes the value of the boat. This is why it is important to disclose all issues and flaws in the listing.
Once the Acceptance of Vessel is signed, the deposit is no longer refundable and we move to close.
CLOSING
Our Closing Coordinator will send you all closing documents. All closing documents can be signed and notarized online. They will also work with your financial institution if you have a loan.
Once both parties’ paperwork and the payment is received, the sale is final. Funds will immediately be transferred into your account or to your financial institution if you have a loan.
TAKING POSSESSION
Your local rep and the closing coordinator will help with scheduling the buyer to take possession of your boat. It is up to you to give adequate cancellation notice to your marina. The buyer is responsible for making their own mooring and transport arrangements. The buyer is responsible for taking full responsibility on the day of close.
That’s All!
WE LOVE SELLING BOATS AND ARE COMMITTED TO MAKING THE PROCESS ENJOYABLE AND EASY FOR BOTH BUYERS AND SELLER IN EVERY SINGLE TRANSACTION WE DO.
Ready to Get Your Boat Sold? 