YACHT PURCHASE AGREEMENT

Purchase & Sales Agreement

1.
A. Date of Agreement __________________________________________

B. Offer expiration date __________________________________________

(see paragraph 3)

C. Seller’s Name & Address ____________________________________________________________

(the “Seller”)

D. Buyer’s Name & Address ____________________________________________________________

(the “Buyer”)

E. Brokers of Record Listing: ___________________________________________________________

(“the Broker”) selling .

F. Purchase Price ____________________________________________________________

G. Deposit (the “Deposit”)

See paragraph 2) _____________________________________________________________

H. Conditions: Subject to survey and sea trial to Buyer’s satisfaction.

(see paragraph 4 & 8) Seller to provide list of exclusions (if any) at beginning of
Survey.

I. Acceptance/Rejection Date:
((see paragraph 5) On or before _______________________________

J. Closing Date: On or before 15 business days after Acceptance of Vessel by

(see paragraph 7) Buyer.

K. Delivery Location: ____________________________________________________________

(see paragraph 9)

L. Additional Terms: ____________________________________________________________

____________________________________________________________

____________________________________________________________

____________________________________________________________

__________________________________________________

__________________________________________________

Please Intial:
Buyer:___________ Seller: _____________

1. The Buyer agrees to purchase and the Seller agrees to sell all rights, title and interest to the yacht or vessel
described as:
 YACHT PURCHASE AGREEMENT

Name: _____________________________________ Length: _________ Type: _____________________________

Hull ID#_____________________________________ Year: ________ Official No:____________________________

Flag: ________________________________________Class:________________ Registry No. _________________

2. Deposit will be paid to the escrow account of the Broker immediately upon Seller’s acceptance, as a deposit
toward the purchase price and subject to the terms of this agreement.
3. This Offer is to be considered withdrawn unless accepted by the Seller by the date in section “b” above.
4. a. In the event that this sale is subject to survey, the Buyer must instruct his agents or surveyors to examine
the vessel to ensure that it meets the Buyer’s requirements. This survey is at the expense of the Buyer
including associated costs such as, but not limited to, haul out, dry dock charges, etc., and the Buyer hereby
acknowledges that the surveyor is selected by him, is in his employ, and is responsible solely to him for any
errors or omissions, notwithstanding the fact that the Broker may have provided the Buyer with information as
to the availability of the surveyor. The Broker shall not be responsible for the cost of correction to any item
found to be deficient in the survey. The Buyer shall be liable for any damage incurred as a result of his
survey.
b. In the event that the sale of the vessel is subject to trial run, the Seller agrees that any trial, white he
authorizes is made at his sole risk and expense.
5. Buyer’s failure to exercise his right of acceptance or rejection as specified shall result in a construed rejection
of the vessel.
6. Should the vessel be rejected by the Buyer or the purchase not consummated by reason of contingencies set
forth herein or by destruction of the vessel for any reason, including at act of God, the deposit shall be
returned to the Buyer after all expenses incurred have been deducted and paid and this agreement shall
become null and void. The Buyer and Seller agree that, should there be a dispute as to the responsibility for
the failure of this transaction to be consummated, the Broker will act as an Escrow Agent only and may, at his
option, file an interpleader with any court of appropriate jurisdiction and deposit said funds into the registry of
the court. The Buyer and Seller further agree that, should the court determine that the Buyer wrongfully
prevented the transaction from closing resulting in disbursement of the deposit as liquidated and agreed
damages, that the court shall direct payment to the Broker of on half of said amount as provided herein.
7. In the event, after written or telefaxed acceptance of the vessel, the Buyer fails to pay the balance of the
purchase price and execute all papers necessary to be executed by the Buyer for completion of the purchase
on or before the closing date, any all funds paid as of this closing date shall be retained by the Seller and
Broker as liquidated and agreed damages and the parties shall be relieved of all obligations under this
agreement. The sum shall be divided equally between the Seller and Broker after all expenses incurred by
the Buyer against the vessel have been paid from the sum retained.
8. Said vessel is being purchased free and clear of all debts, claims, liens and encumbrances or any kind
whatsoever, except as noted hereinafter and the Seller warrants and will defend that he has good and
marketable title thereto and will deliver to the Broker necessary documents for the transfer of title to the Buyer
on or before the dates set forth for final payment.
9. Vessel shall be delivered on or before the closing date together with all gear, machinery, equipment,
furnishings and all other articles and appurtenances thereto belonging to said vessel other than any items
identified in an exclusions list provided by the Seller. It is further agreed by the parties that:

a. If due to adverse weather conditions, Seller is unable to deliver the vessel to the location specified in
Paragraph K
on such date, Buyer and Seller agree that the closing date shall be extended to the first practicable business
day after the vessel can make safe passage.

b. If buyer’s insurance company declines to bind coverage due to named windstorm proximity, Buyer and
Seller agree to delay closing until such time that insurance coverage can be bound.
Please initial Buyer:___________________ Seller: __________________
10. It is agreed by the parties that the risk of loss, injury or destruction of said vessel and equipment shall be
borne by the Seller until this transaction has been closed.
 YACHT PURCHASE AGREEMENT

11. Sales or use taxes (if any) imposed on this purchase are the responsibility of the Buyer and will be paid to the
Broker at the time of closing. Duties, taxes or fees of any state, country, city regulatory or taxing authority
incurred prior to the date of closing of this transaction shall be the responsibility of the Seller. If permission of
any authority is necessary to purchase this vessel, it shall be the responsibility of the Seller to cooperate fully
to obtain same.
12. Information on the vessel is believed to be good and correct and the Broker offers such information in good
faith, but does not and cannot guarantee the accuracy of the information. ONCE ACCEPTED, THE VESSEL
IS SOLD ‘AS IS’ WITHOUT REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO
ITS CONDITION, DESIGN, PERFORMANCE, MERCHANTABILITY, SEAWORTHINESS, OR FITNESS FOR
A PARTICULAR PURPOSE. .
13. This agreement shall be binding on all parties herein, their heirs, personal representatives, and/or assigns
when this agreement shall have been signed by all parties or their fully authorized agents. Seller agrees not
to sell the vessel or enter into any agreement for the sale of same while this agreement is in effect.
14. This document constitutes the entire agreement between the parties hereto and it is agreed and understood
that there are no other duties, obligations, liabilities or warranties implied or otherwise except as referred to in
an addendum, if any , as attached.
15. Should the Broker become a party to any litigation involving this agreement and the Broker is found not to be
at fault, it is agreed that the Broker shall be reimbursed for his costs and attorney fees by the party or parties
who have been found to have breached this agreement.
16. If the Seller defaults per the terms of this agreement and the sale is not consummated, the full commission
shall be due and payable to the Broker by the Seller and the expenses of the Buyer’s survey become the
obligation of the Seller. This does not preclude any other rights the Buyer might have.
17. Final payment made by the Buyer at the time of closing of this transaction must be made in the form of cash
or bank to bank wire transfer of U.S. currency, in cleared and negotiable funds.
18. Any legal action started by the Seller or Buyer arising out of this Purchase & Sale agreement shall be
determined by the laws of the State of Florida and shall be brought within the jurisdiction of the State of
Florida. Venue for any legal action shall be brought within the area of the home office of the Broker which is at
present, Broward County.
19. Buyer and Seller agree that the Broker (including the listing broker) may act or be acting as dual agent,
therefore, Buyer and Seller acknowledge that the Broker (including the listing broker) may represent both
buyer and Seller in this transaction.
20. Any funds due the Broker for storage, insurance, repairs, or any other items accrued to the Seller’s account
shall be deducted from the Seller’s net proceeds prior to disbursement of funds to the Seller.
21. The parties agree and expressly stipulate that this agreement shall survive the closing of this contemplated
transaction and shall not be merged in or otherwise be affected by the execution, tender, delivery or
acceptance of the Bill of Sale or any other documents executed or delivered at closing.
22. Seller agrees to sell the described vessel under the terms and conditions stated in the foregoing agreement.
The Seller acknowledges the employment of the brokerage firm(s) . and agrees to pay said
Broker(s) commission as agreed upon. Said commission shall be paid at the time of closing of this
transaction.

Buyer: _________________________________________ Date: ____________________________

Witness: ________________________________________
________________________________________
Printed Name of Witness

Seller: __________________________________________ Date: _____________________________

Witness: ________________________________________
________________________________________
Printed Name of Witness
YACHT PURCHASE AGREEMENT