Who Pays For What

Story by Harris & Ellis / July 12, 2023

Author: Patricia and Grant Bowlby Yacht Brokers Harris & Ellis Yachts

In the purchase of a boat, it’s natural to wonder who pays for what costs. Here’s a rundown.

The Purchaser is responsible for the cost of the:

surveyor
marina haul-out for survey and re-launch if the boat is currently in the water
mechanical inspection
insurance coverage after the closing day
marina/yacht club fees from the closing date forward, unless otherwise specified in the agreement.
transfer of the registry. There is no cost to transfer a license.
Sales tax. This is not collected at the time of the sale but will be requested by the Ministry of Finance sometime in the future. Keep the funds available as you’ll have 20 days from the time of notification to submit the payment

The Seller is responsible for the cost of the:

insurance coverage on the boat until the Closing Day
cost to maintain the boat until the Closing Day
cost to prepare the boat for sea trial, including launching the boat if it was not in the water on the day of accepting the contract
marina/yacht club fees up to the Closing Day
the brokerage commission

Categories: Buying a Yacht, Selling a Yacht

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Testimonials

As first-time boat buyers and as foreigners wanting to buy a cruising catamaran in the US, we knew we needed a reliable broker that had our best interests in mind. John Heintzman was just that, and more! He was extremely committed to understanding what we were looking for, gave great advice, and guided us through the purchase process with great patience and knowledge. All in all, we felt very well taken care of.

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I feel compelled to reach out about the absolutely wonderful experience that I have had with Grant and Patricia Bowlby. I completed the purchase of a boat yesterday and I couldn’t be happier. They were so helpful, kind, and patient. This was my first experience with a broker, and I think I’ve found the best.

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I can’t thank Ewan Campbell enough for the super job he did in selling G, making up for my lack of experience in this realm and patiently searching for just the right buyer and a win-win for seller and buyer alike.

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It was a wonderful experience selling A with Jeff Cole’s expert assistance. Thank you for simplifying a complicated process. Your patience and kindness are especially appreciated.