Foreign Yacht Purchase

[elittke]

I am thinking about the purchase of a yacht in Europe. Am concerned about how to handle the transaction since I would be dealing with a broker who I do not know. Feels uncomfortable to hand over a large sum of money in a foreign land not knowing what the legal recourse I may have if I do not get what I expected. Do I need an attorney in the USA to help me out? Os a broker here in the US. Who would be the right documentation company? And any other thoughts on this?

[boatman61]

Have the monies held in Escrow by a mutually acceptable international bank like Lloyds, Bank of America etc..
or as I did when buying in the US I carried a Bankers Draft..

[Zanshin]

To which country in Europe is the vessel flagged, that is important to know. With that information, I'm certain you can get recommendations on how to proceed.

[sailpower]

A US broker would certainly solve the problem.