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How to prepare your Yacht for sale

 

There are some practical tips that will make your yacht prepared to get a better price:

 

The first impression counts most!

 

  • Check and fix mechanical, electrical and navigational issues

 

  • Make sure that all equipment is working

 

  • Repair any damaged wooden and/or gelcoat parts

 

  • Check for unpleasant odors

 

  • Remove your personal items, if possible

 

  • Have an engine room cleaning

 

  • Turn on all the lights when the boat will be presented to a Buyer

 

  • Have all yacht's documentation available including survey reports, maintenance records that will make the Buyer feel confident

 

  • Have your boat clean and tidy in and outside. Cleaniness is a very important factor for the first impression

 

 

Note:

A clean and tidy yacht can make a big difference to the eyes of the Buyer

It has to be considered that the Buyer is looking to several yachts and besides the general condition and the price, he wants to be sure that the owner really cares about his yacht

 

 

 

Is it better to be ashore or in the water?

 

Having the boat ashore is better because the Buyer can see the hull, shafts, propellers, rudders, brackets, bowthruster, zincs condition.

 

A boat in the water looks more attractive but will always present blind spots to the Buyer, till he will decide to proceed to a Pre-purchase condition survey by hauling the Yacht out.

 

 

 

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The right asking price for your Yacht - We are here to assist you

 

We conduct both regular and custom market research for the prices all the Yachts that we have for sale.

 

We want to ensure that you, as a Seller, are aware of the competition your yacht has and the real possibility to be sold within a reasonable period of time.

 

A really competitive market value can reduce the time for selling a Yacht.

 

On the other hand, if a Yacht will stay for too long “on the shelves”, then she loses attraction and interest. And this should not be our target.

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What is the status for a Yacht under Bank loan

 

If the Yacht is under Bank loan, then the bank prepares in cooperation with its attorney the documentation relating to the discharge of mortgage of the yacht and delivers it to the attorney in charge.

 

It is a very normal procedure that a lawyer with yachting expertise can perform successfully.

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Your offer on a used Yacht for sale

 

Before spending time and money to travel and visit a yacht, you can place a non-bounding offer, subject to a successful Sea trial and Survey.

 

We will discuss your offer with the seller and if there will be a price agreement then you can then proceed to an inspection.

 

Some potential Buyers decide to appoint a Surveyor of their choice, to perform a Pre-purchase Condition Survey and after they receive the Surveyor’s report, they might proceed to their own inspection.

 

Some other Buyers decide to proceed to a Walkthrough Survey by a Surveyor (light survey). The Surveyor will check the boat in several parts and will provide into 2-3 pages his major findings. This will cost much less to the potential Buyer (approx. 300 euro) and will give him the option to either go ahead or to look for another boat.

 

 

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What is the VAT status for EU and non-EU yachts in Greece

 

There are three options regarding the VAT of the vessel:

I) If the vessel will be acquired by an EU individual or legal entity, not having commercial activity, the applicable VAT will be calculated on the purchase price of the vessel and has to be paid by the Buyer.

II) If the vessel will be acquired by an EU individual or legal entity, having commercial activity and having been registered for VAT purposes in its state, the transaction will be considered as an intra-community transaction and the possible obligation for the payment of the VAT will be transferred to the Buyer. He will have to deal with the payment or not of the VAT in his country.

III) If the buyer of the vessel will be a non EU individual or legal entity (US, Russian, Japanese etc) no VAT will be calculated and paid as the transaction will be considered as an exportation out of EU. In that case only a small tax declaration for exporting the boat out of EU has to be paid by the buyer.

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Required time to complete safely a Yacht purchase in Greece

 

Normally from the signing of the MOA till the closing of the sale and the deletion from the Greek registry it takes approx. 4-6 weeks.

 

For foreign flag yachts it can take less time, but this shall be examined case by case.

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Documents required for non-EU companies buying a Yacht in Greece

 

  • Certificate of Incorporation and Statement of Incorporation, notarized and apostilled in original
  • Certificate of Good Standing, notarized and apostilled in original
  • Minutes of the Board of Directors (BOD) of Buyer regarding the purchase of the yacht, notarized and apostilled in original
  • Power of Attorney of the Buyer resolving the purchase of the vessel and authorizing persons to complete the sale and sign all the necessary docs, notarized and apostilled in original
  • Copies of passports of the authorized persons

 

Although the above represent the required documentation for making the purchase, there might be need for some additional documents.

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Feel confident buying a Yacht in Greece

 

Greece has a large number of Motor and Sailing Yachts.

 

Most of the Greek owners, traditionally maintain their Yachts in a professional way.

 

Most of them they owned a Yacht since many years ago.

 

  • A first question by a Buyer could be:

 

How can I be sure about the condition of the Yacht I am interested for?

 

First of all, we will try to provide you with all available information and images about the Yacht you have contacted us for.

 

On the other hand, we always recommend the appointment, by the Buyers, of qualified Surveyors and there such in Greece, who will "scrutinize" the Yacht and will come up with a full survey report that will reveal every single part of the Yacht that should draw attention and their recommedations.

 

With the survey and the relevant report you will know precisely what the condition of the specific Yacht is.

 

  • His second question can be:

 

About the legal part of the yacht i.e. validity of documents, liens, mortgages, loans, valid Bill of Sale, etc.

 

In Greece there are experienced lawyers in yachting who for decades, have dealt with international and Greek yachting matters.

 

They have contributed to the transactions of thousand of Yachts and they present a long and deep experience.

 

The Greek authorities although bureaucratic, they provide all the required documentation that secures the transactions in yachting matters

i.e. every demand on a yacht  such as mortgages, encumbrances, liens, loans is submitted to a specific governmental office.

 

Thousands of yachting transactions have been performed with foreign customers during the last decades, proving that Greece is a very safe and interesting destination for Yacht Buyers.

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Procedure for buying a Yacht in Greece

 

The basic steps for buying a yacht in Greece are the following:

 

  • Initial visit/inspection of the vessel by the Buyer and his experts

 

  • Offer and Price agreement: If the yacht is what you are looking for, then a price agreement between Buyer and Seller, subject to a successful Sea trial and Pre-purchase Condition Survey, shall take place. We will do all the negotiations aiming to a win-win solution

 

  • Memorandum of Agreement (MOA): A yachts' legal expert -usually a yachting Lawyer, will draft of the MOA, which will be signed by both the Seller and the Buyer. In the MOA, the whole  procedure will be described in detail and all the documentation required for the safe transition of ownership will be stated. The main provisions of a Memorandum of Agreement support both Buyer and Seller against any unfair accountability

 

  • Inventory list: The Seller shall provide a full list of inventory, which shall be signed by both parties and will be part of the MOA

 

  • Down payment: 10% of the agreed selling price, to be transferred to the Stakeholder, as per MOA terms and conditions

 

  • Survey & Sea Trial: Pre-purchase Condition Survey, Sea Trial Performance, Engines' Inspection and shall take place. The costs for haul in/haul out, surveyor, engineers and gas are on the Buyer

 

  • Legal examination: Examination by the Buyer's Legal expert (lawyer) of all vessels’ documentation such as, Registry, mortgages, liens, encumbrances, VAT status, Marina fees, outstanding taxes-fees, etc.)

 

  • Bill of Sale: Signing of the original Bill of Sale and certification with Notary and Apostille

 

  • Closing Date: Meeting for the closing of the yacht sale where the Buyer and the Seller are present (or their legal representatives). The Buyer gives instructions to his bank to pay to the Seller, with same day value date, the balance of the purchase price in the account to be designated by the Seller's instructions in the MOA

 

  • Physical Delivery of the Yacht and relevant documents: When the balance will arrive into Seller's bank account, the Physical delivery of the yacht with all items included in the inventory and all documentation stated in the MOA, will take place. Both Buyer and Seller will sign the Protocol of Delivery and Acceptance.

 

  • Insuring the Yacht: Buyer shall insure his new possession

 

  • Deletion from the Greek Registry: The Seller (or his representative) will submit all the documents for the deletion of the yacht from the Greek flag, to the Greek Registries. The deletion from the Greek flag usually takes some days to be issued by the Greek Registry

 

  • A new Transit log (DEKPA) shall be issued by the new owner, if the yacht will leave Greece by the sea
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How to benefit from ALVEA YACHTS

 

The process of selling or buying a yacht needs a lot of time, money, attention and energy.

 

Although the global market is offering thousands of yachts for sale, not all of them represent a real opportunity.

Unreasonable negotiations, disappointing yachts' condition, hidden obstacles such as liens, encumbrances, mortgages, make you feel lost.

 

Alvea Yachts' knowledge and experience will make your way of acquiring or selling a yacht, shorter and safer.

 

 

We always act not only as Yacht Brokers but as Yacht Consultants, as well

 

 

Contact us and we will do our best to inform and assist you in every step from finding the right boat to make all the required legal and technical checks

 

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Sell your Yacht with ALVEA YACHTS

 

Alvea Yachts has an almost 14 years proven record in selling selected yachts all over the world.

 

We have developed an extremely sophisticated CRM tool, that constantly brings together buyers and sellers from all over the globe.

We advertise your yacht for sale by employing all those advanced marketing ideas, ensuring that your yacht will stand out from the yacht crowd and will be exposed to a large number of potential customers.

 

You are more than welcome to contact us for discussing about how we can promote effectively your yacht for sale:

 

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fixed   +30 210 6710110

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We use powerful and sophisticated marketing strategy and tools such as:

 

 

  • Extensive presence in the top international yachting portals

 

  • Reach, targeted to your yacht, network of buyers from our large customer database

 

  • Emphasizing on your yacht’s special features that add to the yacht’s sales value

 

  • Optimization of your yacht presentation by using classic and 360.jpg images

 

  • Online analytic reports for the hits and leads that your yacht receives every month

 

  • Price monitoring: Market analysis of the competition locally and globally for providing vital information about the your yacht's market environment and competitive boats pricing

 

  • Immediate response to Buyers’ specific worries and assistance for matters such as: legal, surveyors, transportation, maintenance, mooring and other

 

We Respect Your Yacht

 

Your yacht is no doubt, one the most precious possessions and a very significant investment.

We want to ensure you that we are doing our best, so that you will receive the best possible price the market can offer you, when the time to sell comes.

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