If you need catamaran sales forms, I have downloadable PDF forms on this page. I did not write these forms, and I am offering them as a courtesy to facilitate the catamaran sales process.
The first form could be used as the Purchase and Sale Agreement and is editable online. It is sometimes called the “Offer” form. This form should work for you. In coordination with the Purchase and Sale Agreement, there are three other forms which determine if the Buyer wants to go forward with closing, renegotiate based on survey items, or cancel the deal.
- Yacht Purchase and Sale Agreement
- Acceptance of Vessel
- Conditional Acceptance of Vessel
- Rejection of Vessel
The below forms are to help you do closing paperwork. The most important is the formal Bill of Sale used to transfer your catamaran’s title. I found this version on the United States Coast Guard website, and I offer it here. If it’s good enough for the US Government … it should work for you. Also included are a dinghy bill of sale, warranty of title, and a Florida Power of Attorney.
If you are more comfortable using a marine documentation company to handle paperwork, I’ve received very positive feedback about these companies. Prices will vary depending upon where the catamaran is registered and where you want your new registration, but start at least at $600.00 USD.
The above documentation agents may also provide Escrow services. I have also heard clients who have used Escrow.com to handle these services, but I have no personal experience. This is simply a list of what others are doing and not a recommendation.
If you are purchasing or selling in the State of Florida, then the below pamphlet from the Florida Department of Revenue may help you determine any tax implications of the sale.
STEPS FOR PURCHASING A CATAMARAN
- Visual Inspection of Vessel: Primary visit without trial of vessel or machinery. In some cases an offer is made subject to visual inspection, survey, sea trial.
- Offer: Accompanied typically by 10% earnest money deposit in negotiable funds to be held by an escrow company such as Escrow.com or one of the marine documentation agents above.. Typically deposit is wire transferred within three (3) business days of Seller and Buyer agreeing to and signing a purchase agreement. Written contract is submitted with acceptable contingencies (i.e. sea trial and/or survey, etc.). Yacht Purchase and Sale Agreement
- Counter Offer: Negotiations proceed through a (possible) series of offers and counter offers. These are usually verbally done without specific paperwork needed to be filled out.
- An Acceptable Price: Having been negotiated, both parties endorse the contract with signatures. 10% deposit must be cleared funds in order to proceed further.
- Sea Trial: Is conducted usually at Seller’s expense, often en-route to the survey site.
- Survey: Is conducted at Buyer’s expense. Costs vary, however, $30.00 per foot, plus $7.50 per foot for hauling out, is an example rate. Your can search online or ask friends for qualified surveyors, as well as insurance companies, marine yards, etc. The survey must meet the Buyer’s approval. There is no other standard by which the vessel passes survey other than the buyers own approval.
- Acceptance of Vessel: Resulting from satisfactory survey and sea trial. Acceptance of Vessel
- Conditional Acceptance of Vessel: Based on survey and/or sea trial (deficiencies). Possible re-negotiation of price or repairs dependent on the severity of deficiencies. Conditional Acceptance of Vessel
- Rejection of Vessel: Refund of deposit to buyer. Rejection of Vessel
- Closing: Transfer of documents and title upon receiving balance of funds. Please see above for marine documentation agents and sample forms for do it yourself paperwork.