Steve Hall’s checklist for contract-to-close clarity, from escrow timelines to documentation audits

When a yacht goes under contract, clarity beats speed. The calm, methodical path protects your money, your time, and the integrity of the asset. Here is Steve Hall’s contract‑to‑close checklist—used daily by Great Southern Yacht Company—to bring order to complex yacht transactions from Florida’s Emerald Coast to South Florida and nationwide.

1) Establish the deal framework on day one

• Confirm the governing agreement: Most Florida transactions use the IYBA Purchase and Sale Agreement; ensure both sides are referencing the same version and exhibits.
• Define decision milestones: Deposit due dates, survey window, sea trial date, acceptance deadline, and closing.
• Capture all inclusions/exclusions: Tenders, loose gear, decor, fishing equipment, and electronics—list serial numbers where practical.
• Set communication cadence: One lead decision-maker per side, with the broker coordinating daily status.

2) Escrow, funds flow, and timeline integrity

• Escrow setup: Verify licensed escrow holder, wiring instructions (call-back verification to prevent fraud), and the deposit due timeline.
• Calendar the deal: Build a shared calendar that tracks every deadline with buffers for weather, yard availability, or travel delays.
• Contingencies management: Clarify what triggers extensions and how they’re documented—amendments, not emails.

3) Survey and sea trial, executed like a mission

A thorough survey is your risk audit. As private yacht consultants, we structure the day to surface reality—not to “sell” a result.

• Pre-brief: Review prior service records and known squawks; agree on expected sea conditions and duration.
• Team selection: Hull surveyor, mechanical/engine specialist, rigging expert for sailboats, oil analysis lab; choose pros with class/brand experience.
• Haul-out logistics: Reserve lift capacity at a suitable yard; confirm sling points and LOA/beam.
• Sea trial plan: Cold start, full systems check, RPM ladder with load readings, vibration/IR scans, generator and inverter tests, helm electronics, windlass, stabilization systems.
• Documentation of findings: Written survey with photos, engine reports, oil analysis, and a prioritized deficiency list (safety, structural, operational, cosmetic).

4) Documentation audits and lien clearance

Title work is where many yacht deals falter. We validate ownership and lien status before acceptance when possible.

• USCG Documentation or state title: Pull an Abstract of Title (documented vessels) or state title history; confirm HIN and engine serials match the vessel.
• Lien search: Identify mortgages, Notice of Claim of Lien entries, UCC filings on equipment, and tax holds; obtain recorded satisfactions and payoffs with escrow control.
• Ownership chain: For entities, review corporate authority docs and resolutions; for trusts, trustee authority.
• International or foreign-flag considerations: Duty status, export paperwork, and de-registration timing if applicable.
• Registration plan: Coordinate NVDC filing or state titling, registration numbers, and sales/use tax documentation for the closing set.

5) Acceptance, repairs, and credits—choose clarity over improvisation

• Acceptance election: On or before the deadline, issue Acceptance, Rejection, or Conditional Acceptance per the contract.
• Remedies: When deficiencies arise, we compare three paths—seller repairs, price credit, or escrow holdback—with attention to yard schedules and cruising plans.
• Paper trail: All concessions documented via addenda with clear scope, cost, and completion standards.

6) Insurance, financing, and tax positioning

• Insurance binding: Secure a binder effective at closing with navigation limits, lay-up terms, crew coverage if required, and hurricane plans (critical for Florida).
• Financing: Coordinate lender survey requirements, valuation, and preferred mortgage recording; ensure lender approves the closing statement early.
• Tax: Align on applicable sales/use tax, reciprocity, and delivery location rules. We collaborate with your tax advisor to avoid surprises.

7) Logistics, delivery, and marina/slippage advisory

Whether you’re closing in Destin, Miramar Beach, 30A, South Florida, or across the country, logistics are central to real ownership readiness.

• Delivery plan: Captain delivery, crewed repositioning, or overland transport; route, permits, insurance COI, and weather windows.
• Condition at handover: Fuel levels, spare parts inventory, manuals, keys/fobs, nav chip custody, dinghy/title sets.
• Marina placement: On the Emerald Coast, slip availability varies with season. We advise on marina waitlists, private docks, and interim solutions and can secure temporary slippage while permanent space is arranged.

8) Closing package and funding day

• Final walkthrough: Verify condition is substantially the same; confirm agreed repairs and inventory.
• Closing statement: Review purchase price, tax, payoffs, commissions, yard bills, and pro-rations for moorage and insurance.
• Funds flow: Wire verification procedures, payoff letters, and escrow disbursements; issue Bill of Sale, Coast Guard forms, and lien satisfactions into record.
• Post-close filings: USCG Certificate of Documentation issuance or state title application; MMSI updates and EPIRB re-registration.

9) After closing: onboarding that accelerates confidence

• Owner orientation: Systems walkthrough, maintenance calendar, spare parts plan, and vendor introductions.
• Operating checklists: Start-up, shut-down, storm prep, and seasonal maintenance.
• Long-term service plan: Engine/gear service intervals, haul-out cadence, varnish/finish cycles, and software updates for electronics.

Regional nuance: what matters in Florida and nationwide

• Emerald Coast and 30A: Shifting inlet conditions and seasonal storms shape survey/sea trial timing; marina capacity and storm plans require early planning. Working with a Destin yacht broker who understands local yards and slippage saves weeks.
• South Florida: Yard schedules can be tight; plan haul-outs well in advance and expect rigorous insurance criteria during hurricane season.
• Nationwide purchases: Cross-country deliveries and state tax differences make timeline discipline essential; our brokers travel to showings, surveys, and sea trials to personally represent you.

Why a fiduciary-first broker changes the experience

Great Southern Yacht Company is brand-agnostic and dedicated solely to client interest. As a Florida yacht brokerage and private yacht consulting team, we disclose everything known and everything discoverable—so buyers searching “buy a yacht Florida” and sellers thinking “sell my yacht” can move forward with full information. Our licensed brokers, including USCG Master Captains and IYBA members, manage the process end-to-end with the same care we would use for our own vessels.

Ready to navigate your purchase or sale with clarity? Contact Great Southern Yacht Company for a private consultation with Steve Hall and the team.