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How to Make an Offer on a Yacht

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How do you make an offer on a yacht?

To make an offer on a yacht, you put it in writing as a purchase and sale agreement. A deposit of around 10% backs it, held in escrow. You make the offer subject to a satisfactory survey, a sea trial, and clear title. Those conditions keep your deposit refundable if the boat doesn’t check out.

That’s the whole idea in a sentence. Below we walk through the written agreement, how much to offer, and the deposit. We’ll also cover the contingencies that protect you and what happens once the seller says yes.

Put your offer in writing: the purchase and sale agreement

A yacht offer isn’t a handshake or a verbal number. It’s a written contract, and the document that carries it is the purchase and sale agreement. Most brokers use a standard form, such as the Yacht Brokers Association of America (YBAA) agreement. That keeps the terms familiar to everyone at the table.

A complete agreement spells out the essentials:

  • The parties, meaning the full names and addresses of buyer and seller
  • The boat, described by make, model, year, and hull identification number
  • An inventory list of exactly what’s included in the sale
  • The offer price and how you’ll pay the balance
  • The deposit amount and where it’s held
  • Key dates for acceptance, survey, and closing
  • Contingencies that let you walk away with your deposit

Once both sides sign and the deposit lands in escrow, the boat is “under offer.” That written clarity is what protects you, which is a big part of why buyers work with a broker. If you’re buying without one, our guide on how to buy a yacht privately walks through the paperwork in detail.

How much should you offer on a used boat?

There’s no fixed rule, but there is a smart way to arrive at a number. Base your offer on evidence, not emotion.

Start with what comparable boats have actually sold for, not their asking prices. Your broker can pull recent sold-price data on the same make and model. That’s the single best anchor for a fair offer. From there, weigh the specifics. Look at the boat’s condition, its engine hours, how long it’s been on the market, and any deferred maintenance you can see. A boat that’s been listed for a year invites a stronger negotiation than one priced right and freshly listed.

Leave a little room, too. Your survey may turn up items worth renegotiating later, so your opening number isn’t always your final one. The goal is a credible offer that opens a conversation, not a lowball that ends one.

How much deposit do you need?

The standard deposit on an offer on a yacht is 10% of the offer price, held in the broker’s escrow account. Escrow matters. Your money sits with a neutral third party, not in the seller’s pocket, until the deal closes or you cancel.

Plan to fund the deposit quickly once your offer is accepted, often within about three business days. Pay by check or wire. A prompt, verifiable deposit signals that you’re a serious, prepared buyer. And because the offer is contingent, that deposit stays refundable right up until you accept the vessel, provided you cancel for a reason the agreement allows.

Contingencies that protect you

Contingencies are the conditions that make your offer safe. They give you defined exits, each of which returns your deposit. Most offers on a yacht include a few standard ones:

  • Survey. The sale hinges on a satisfactory marine survey by an accredited surveyor. Read Do You Need a Marine Survey When Buying a Boat? for what that inspection covers.
  • Sea trial. You get to see the boat perform on the water before you commit. Our guide to how a boat sea trial works explains the on-water test.
  • Clear title. The seller must be able to deliver clean, unencumbered ownership, free of liens.
  • Financing. If you’re borrowing, you can make the offer subject to loan approval. Our guide to yacht financing covers how that works.

Spell these out clearly in the agreement. They are the difference between a protected offer and a risky one.

What happens after your offer is accepted

Acceptance isn’t the finish line. It starts the clock on two key dates written into your agreement.

The first is the acceptance-of-vessel date. By that day, you complete your survey and sea trial, then give the seller one of three answers. You accept the vessel and move toward closing. You reject it and take your deposit back. Or you request a price adjustment or repairs based on what the survey found, which reopens a short negotiation. Specific findings with repair quotes carry real weight here.

The second is the closing date. On that day the balance is paid, the documents are signed, and ownership transfers to you. For everything that happens at that final step, our post on closing the deal walks through financing, insurance, and documentation.

Common mistakes to avoid

A few missteps trip up first-time buyers when they make an offer on a yacht. Steer clear of these:

  • Offering verbally. Until it’s in writing with a deposit, you have nothing to hold the boat.
  • Skipping contingencies to look stronger. Waiving your survey or sea trial to win a deal can cost you far more than it saves.
  • Lowballing on a fair price. An evidence-free offer can sour the negotiation before it starts.
  • Dragging on the deposit. A slow deposit can cost you the boat if another buyer is ready.
  • Guessing at value. Offer against real sold-price data, not the asking price.

Frequently asked questions

How do you make an offer on a yacht?

You make an offer on a yacht in writing, using a purchase and sale agreement, backed by a deposit of around 10% held in escrow. The offer is made subject to a satisfactory survey, a sea trial, and clear title, so your deposit stays refundable if the boat doesn’t check out. Once both parties sign and the deposit is in escrow, the boat is under offer.

How much should you offer on a used boat?

Base your offer on what comparable boats have actually sold for, not asking prices. Your broker can pull recent sold-price data on the same make and model. Then weigh condition, engine hours, time on the market, and any deferred maintenance. Leave some room, since your survey may reveal items worth renegotiating before closing.

What is a boat purchase and sale agreement?

A purchase and sale agreement is the written contract that carries your offer. It names the buyer and seller, describes the boat and its included inventory, states the price and deposit, and sets the key dates and contingencies. Most brokers use a standard form, such as the YBAA agreement, so the terms are clear to everyone involved.

How much deposit do you need to make an offer?

The standard deposit is 10% of the offer price, held in the broker’s escrow account rather than paid to the seller. You typically fund it within about three business days of acceptance, by check or wire. Because the offer is contingent, the deposit stays refundable until you accept the vessel, as long as you cancel for a reason the agreement allows.

Can you back out after making an offer on a yacht?

Yes, as long as you cancel for a reason your contingencies allow, such as an unsatisfactory survey or sea trial, before the acceptance-of-vessel date. In that case your deposit is refunded. Once you formally accept the vessel and waive your contingencies, backing out can mean forfeiting the deposit, so review the dates carefully.

Talk to a broker

A well-structured offer is where a good broker earns their keep, from pulling the sold-price data to writing airtight contingencies. Our team brings 150+ years of combined experience and includes Certified Professional Yacht Brokers (CPYB). We have offices in Kemah, League City, and Key West.

Found the boat? Let’s put together an offer that protects you.

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