Sailing Yachts For Sale Today
Sailing Yachts
Catamarans
Power Boats & Motor Yachts For Sale
Questions to Ask Before You Buy a Boat
Before you buy a boat or yacht you should ask the Seller a few questions:
- where is the boat / yacht registered?
- what is the proof of ownership?
- is the boat / yacht currently insured?
- why is the boat / yacht for sale?
If you have another question before buying a boat please ask . . .
Boat / Yacht Registration?
Almost all yachts and most boats need to be registered somewhere when on the water in the Philippines. The registration does not need to be in the Philippines - many are registered in Langkawi or the Cook Islands or somewhere else and can voyage around the Philippines without problems - but they must be registered somewhere. Most Sports Boats are exempted from registration in the Philippines but there is good reason to understand the current registration status of the boat or yacht you are buying.
follow this link to understand Registration of Boats / Yachts in The Philippines
Proof of Ownership?
If you are buying a boat or a yacht you must obtain Proof of Ownership from the Seller, just as you would if buying a car or a house. Proof of Ownership could be a notarized Deed of Sale, a Bill of Sale or it could be the current Registration document. If the owner cannot show that his name is on one of these documents then you may be buying a stolen or misappropriated asset that is actually owned by another.
Please note that there may be as many as 64 owners of a yacht. There is a tradition in the shipping industry, that dates back to days of the old trading ships, that a "Ship" can be have up to 64 shareholders. Each shareholder has an equal share in the "value" of the ship (including any cargo) and the risk of loss. So you need to be sure that the Proof of Ownership embraces all parties.
Is the Boat / Yacht Insured?
Around the World it is common for boats and yachts to be insured at least to the level of Third-party Liability. Third-party Liability insurance generally protects the owner against claims that may result from damage or injury caused by the boat or yacht coming into contact with another boat or yacht or structure or person.
Please note that if you plan to locate your newly purchased boat or yacht in Subic Bay Yacht Club or Cebu Yacht Club then you must have at least Third-party Liability insurance.
If you need insurance then you can visit this link to obtain an insurance quotation without obligation, replies usually within 24-hours.
Why for Sale?
An open question that may, or may not, produce a believable, hopefully validatable, answer but worth asking because it may provide some insight into the price being asked by the Seller that may benefit you, the Buyer, in negotiation.
If you have the time, please send us the best answers you got to this question . . .