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Old 25-05-2020, 22:40   #1
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Join Date: May 2020
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How to buy a sail boat in the mediterranean

Hello all,

I'm new to this forum so I appreciate you all being here for some support. I plan to purchase a 30-40ft USED cruiser next year in Europe (hopefully from either Italy or Croatia). Can someone please give me some tips on where to buy a sail boat and some tips on what to look out for?

Another thing is the budget which I have put at AUD $50,000 or around EUR 30,000. Do you think this is a solid budget for a sail boat for two of us to take around the Med for 3 month for so?

Looking for a boat which is basically ready to jump on board and go and no real issues to fix before setting sail.

Thanks!

Alex
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Old 03-06-2020, 07:55   #2
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Join Date: Dec 2016
Location: MED
Boat: Hanse 430e
Posts: 92
Re: How to buy a sail boat in the mediterranean

I wrote this on the other forum..
http://forums.sailinganarchy.com/ind...ought-my-boat/
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Old 07-06-2020, 21:06   #3
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Location: PNW
Boat: Lagoon 440 - 44ft
Posts: 23
Re: How to buy a sail boat in the mediterranean

I bought my boat from Spain from an Italian owner not too long ago. Here are a few things to look for:

1. Make sure the broker is a reputable boat broker. They works for the seller's commission, but they must be helpful and transparent to you on all issues
2. Have a good and experienced surveyor who are willing to send you a survey sample report to see how complete (s)he perform the survey. The issues found in the survey report can be used to negotiate price and demand fixes for the boat before closing. I use the found issues and estimate the fixing cost and deduct from the offered price. Do a pre-sales survey if you cannot do it yourself.
3. EU paperwork and legal fees are expensive, insist on seller+buyer share closing cost if you can. It motivates the seller/broker to find competitive services - translator, public notary, contract, etc. as they also share the cost
4. Find low cost marina for berth as soon as you start making offer.
5. Any service, make sure the service person writes down the detail service and est. timeline and cost; especially if you have any Marine legal advisor/lawyer involve.
6. Structure the sale contract with an initial deposit (5-10%) for surveying and the final payment (in escrow) at closing. Sale Contract must include the seller deregisters the boat as soon as you make payment, and the seller provides evidence of boat deregister application within 3 days. Assuming you will have the boat registers its home port of your country right after.
7. All contracts and documents must be translated to English to document for title (at least with USCG). The translator must provide credential and certification of translation accuracy.
8. Ask the broker to handle escrow for the transaction if possible. Make sure written receipt sends to you for each payment. Wire transfer usually takes 2-3 days. Unless the seller agrees to take wire transfer then you don't need escrow.
9. EU boat will require to be exported out of EU for non EU buyer, ask the seller to share this cost of hiring an export agent. You can register for an export ID with the EU (online), the export agent can help with this.
10. The boat is required to exit EU territorial water in 90 days after the sale is concluded. Typically the buyer will have to exit the EU country then bring the boat to non-EU country for a port entry stamp then come back to EU country for the 18 months stay. There is another approach where the EU port captain can track your boat AIS as it exits the EU 12 nautical miles boundary as exiting EU and come back in as exiting evidence. But it is tough to find a port captain who is willing to do this.
11. Once you complete the exiting EU, your boat is considered a foreign entity in EU territory.

It is a lot of paperwork (EU), just be patient. Good luck.
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