Process
The Yacht Purchase Process in the United States
Offer to closing, in the sequence it actually happens.
7 min read · Updated
The American process is well-established and largely standardised. Knowing the sequence in advance makes the whole thing considerably less stressful.
In short
What are the steps to buying a yacht in the USA?
Make a written offer subject to survey and sea trial, place a deposit of typically ten percent in escrow on signing the purchase agreement, conduct the survey and sea trial within the agreed acceptance period, accept the vessel or renegotiate on the findings, complete title and lien searches, then close through the escrow agent with title transfer and registration.
What is the acceptance period in a yacht purchase?
The window defined in the purchase agreement during which the buyer completes survey and sea trial and either accepts the vessel, rejects it, or proposes a renegotiation based on the findings. It commonly runs two to four weeks and is the buyer's principal protection.
Who holds the deposit in a yacht sale?
An independent escrow agent, frequently the listing brokerage's escrow account or a maritime title company. The deposit is not paid to the seller directly, and its release is governed by the terms of the purchase agreement.
1. The offer
Written, on a standard purchase and sale agreement, and always subject to survey and sea trial. The offer sets the price, the deposit, the acceptance period, the closing date and the delivery condition.
2. Deposit and escrow
Around ten percent is common, held by an independent escrow agent. It is refundable in accordance with the agreement's terms — typically if the buyer rejects the vessel within the acceptance period.
3. Survey and sea trial
The buyer arranges and pays for both. A condition and valuation survey out of the water, a machinery survey, and a sea trial covering the full operating range.
Attend the sea trial personally if you can. A surveyor's report tells you the condition; being aboard tells you whether you actually want the boat.
4. Acceptance or renegotiation
Within the acceptance period, you accept the vessel, reject it, or propose a renegotiation based on the findings. Renegotiation is normal and expected — most surveys find something.
A formal acceptance of vessel document is signed, at which point the deposit typically becomes non-refundable.
5. Title, liens and documentation
Maritime counsel or a documentation agent conducts title and lien searches. For US-flagged vessels this means an abstract of title from the Coast Guard's National Vessel Documentation Center.
Undischarged liens are the classic problem here, and they follow the vessel rather than the seller. This step is not optional.
6. Closing
Funds move through escrow, the bill of sale is executed, title transfers, and registration or documentation is filed. Sales or use tax is addressed according to the delivery location and intended use.
The yacht is delivered in the condition specified in the agreement, and the inventory schedule determines what comes with it.
Put this to use
Frequently Asked Questions
How long does the US process take?
Typically four to eight weeks from accepted offer to closing, driven mainly by survey and haul-out scheduling.
What is a vessel abstract of title?
A record from the US Coast Guard's National Vessel Documentation Center showing the ownership history and any recorded liens against a documented vessel. It is a standard part of diligence on a US-flagged yacht.
Do I pay sales tax at closing?
It depends on the state, the delivery location and the intended use. Florida caps the total sales and use tax on a vessel sale at $18,000; the rules in other states differ. Take advice from a marine tax specialist before setting the closing location.
Can I back out after the survey?
Yes, within the acceptance period and in accordance with the agreement's terms. That is exactly what the acceptance period is for.