How does the sale of a yacht in Colombia work? Yachts are becoming increasingly popular in South America, offering an unforgettable luxurious sailing experience on crystal clear waters and picturesque coastlines. Buying a yacht in Colombia can be a big decision and involves researching and comparing various financing offers, as well as checking the necessary documents and certificates.
To sell a yacht in Colombia , it is important to determine the value of the yacht and prepare a clear and complete sales contract. Brokers can help promote the sale of the yacht by using online sales websites and arranging tours and sea trials for potential buyers. The negotiation and conclusion of the sale of the yacht may also involve the management of offers and counter offers to reach a mutual agreement.
Also read: Rent a small yacht for your vacation
What criteria must be taken into account when selling a yacht?
When selling a yacht, there are several criteria that must be taken into account to ensure the success and profitability of the transaction.
- Yacht size and make – The size and make of the yacht can have a significant impact on the sale value. Big, well-known brands can be more expensive than smaller, lesser-known brands.
- General condition of the yacht: The general condition of the yacht, including its mechanical and aesthetic condition, can have a significant impact on the sale value. Yachts in good condition and well maintained may be more attractive to buyers and sell for a higher price.
- Service and Maintenance History – Service and maintenance history can influence the sale value by showing that the yacht has been regularly serviced and well cared for.
- Yacht equipment and features: The yacht’s equipment and features, such as engines, navigation equipment and entertainment equipment, can influence the sale value.
- The local market: the local market can influence the sale price of a yacht. It is important to know the current market trends and the sales prices of similar yachts in the area.
- Local regulations: local regulations can affect the sale of a yacht, especially in relation to the certifications and permits necessary to sail in the area.
- Selling costs: Selling costs, such as brokerage commissions and advertising expenses, must also be taken into account when determining the final sale price.
What is the best way to determine the value of a yacht for sale?
The best way to determine the value of a yacht for yacht sales in Colombia is to perform a professional appraisal.
- Professional Appraisal: Hire a professional appraiser to inspect the yacht and determine its market value. The appraiser will take into account the characteristics of the yacht, its general condition, its age, its equipment and its benefits to estimate the value.
However, there are other ways:
- Recent Sale Price Comparison – Research similar yachts that have recently sold to establish a realistic price range.
- Using Appraisal Software – Use specialist appraisal software to estimate the yacht’s value based on its features and general condition.
- Online Valuation – Use online valuation tools to get a rough estimate of the yacht’s value.
Read also: How much is a yacht in Colombia
What documents and certificates are needed to sell a yacht?
The sale of a yacht requires various documents and certificates to ensure that the transaction is legal and complies with local regulations.
- Bill of Sale: A bill of sale is a legal document that establishes ownership of the yacht and the transfer of ownership to the new buyer.
- Registration Certificate: Local authorities issue a registration certificate to prove that the yacht is registered and has the legal right to sail.
- Certificate of Conformity: A Certificate of Conformity is issued to confirm that the yacht complies with the rules and regulations of safety, pollution and other legal requirements.
- Build Certificate: A build certificate is issued to confirm that the yacht has been built in accordance with industry standards and regulations.
- Certificate of No Lien: A certificate of no lien is issued to confirm that there are no outstanding debts or charges on the yacht.
- Inspection Report: An inspection report may be required to assess the general condition of the yacht and its state of maintenance.
- Proof of insurance: Proof of insurance may be required to show that the yacht is covered by liability insurance.
Also read: Yachts in San Andres
How can we make sure that the transfer of ownership is legal and complies with local regulations?
In Colombia, the transfer of ownership of a yacht is subject to specific regulations. Here are some steps to take to ensure that the transfer of ownership is legal and complies with local regulations for a yacht in Colombia:
- Check ownership documents: Check that the yacht’s ownership documents are up-to-date and in order, including the bill of sale, certificate of registration, certificate of conformity and certificate of construction.
- Check Compliance – Make sure the yacht complies with all local safety, equipment and pollution regulations, including certifications and permits required to sail in the area.
- Check debts and charges: check that the yacht has no outstanding debts or charges, such as port fees or unpaid repair costs.
- Check insurance – Check that the yacht is covered by adequate liability insurance.
- Hire a Lawyer – Hire a Colombian yacht sales lawyer to check all documents and certificates and ensure that the transaction is legal and complies with local regulations.
- Obtain a sales contract: Obtain a clear and complete sales contract, detailing all the terms of the sale and the conditions of transfer of ownership in accordance with Colombian law.
It is also important to comply with Colombian tax regulations regarding the sale of yachts , including applicable taxes. By following these steps and working with qualified professionals, it is possible to ensure that the transfer of ownership is legal and complies with local regulations in Colombia.