Yacht Escrow and Closing Guide: Balance Wire to Delivery

Quick answer: After survey acceptance, the buyer wires the closing balance (typically 90% minus credits) into escrow, not to the seller. Escrow holds funds until lien releases are recorded, the Bill of Sale is executed, and the closing statement matches the MOA. Delivery acceptance at the agreed port confirms inventory and condition; remote closing is routine via escrow, courier, and powers of attorney. GlobalYachtGuide closing desk: the three post-acceptance failures we see most are wiring the balance before lien clearance is confirmed, signing delivery acceptance without insurance bound, and approving a closing statement that omits agreed survey credits.

See also: Yacht closing process · Yacht deposit and escrow guide · Yacht flag registration guide · Yacht financing guide

What Happens Between Acceptance and Closing?

Survey acceptance is the pivot point. Before acceptance, your deposit is refundable if you reject on survey grounds. After acceptance, the deal becomes a closing obligation: you wire the balance, the seller clears title, and both parties exchange documents through escrow.

This guide covers that second phase in detail. The Yacht Closing Process walks the full nine-step timeline from offer to delivery. The Yacht Deposit and Escrow Guide explains how the initial 10% deposit enters escrow and stays protected during survey. Here we focus on closing balance mechanics, settlement documents, lien release choreography, Bill of Sale requirements, delivery acceptance, and remote closing workflows.

Typical post-acceptance window: 5 to 10 business days to wire the balance and complete document exchange, unless the MOA fixes a calendar closing date or the buyer is re-flagging and needs a deletion certificate first.

How Much Is the Closing Balance and When Is It Due?

The closing balance is the purchase price minus the deposit already held in escrow, minus any agreed price credits from survey negotiation, plus or minus any MOA adjustments for inventory, fuel, or delivery costs.

Component	Typical treatment
Purchase price	Per MOA
Less deposit in escrow	Usually 10%
Less survey credit	Per signed addendum
Plus agreed extras	Rare: tender upgrades, spare parts
Closing balance due	Remainder wired to escrow

Example on a $2,400,000 purchase with standard 10% deposit and $45,000 survey credit:

• Deposit already in escrow: $240,000
• Agreed credit: $45,000
• Closing balance wire: $2,115,000

The MOA states the due date, often within five business days of acceptance or on a fixed closing date. Missing the balance wire deadline is buyer default after acceptance, with deposit at risk. If you use Yacht Financing Guide proceeds, confirm the lender’s wire timing; marine lenders often require original Bill of Sale and registry documents before releasing loan funds, which creates a simultaneous exchange problem your closing attorney must solve.

Finance tip: obtain a firm loan commitment before signing acceptance, not after. Adding a finance contingency post-MOA is difficult and expensive.

What Is a Yacht Closing Statement?

The closing statement, sometimes called a settlement statement or closing ledger, is the line-by-line accounting of the transaction at the moment of fund disbursement. Treat it as the financial control document for closing week.

Standard closing statement lines

Line item	Who prepares	Buyer checks
Contract purchase price	Escrow / closing attorney	Matches MOA
Deposit credit	Escrow	Matches wire receipt
Survey or repair credit	Escrow	Matches signed addendum
Lien payoff debits	Escrow	Matches payoff letters
Broker commission	Escrow	Not buyer’s concern unless disclosed
Escrow fees	Escrow	Per MOA allocation
Net due from buyer	Escrow	Matches your wire amount
Net due to seller	Escrow	Seller confirms

Both parties should receive a draft closing statement 24 to 48 hours before the final balance wire. Compare every figure against the MOA, acceptance notice, and any addenda. Disputes over a missing $15,000 credit or an unexpected storage charge have delayed closings by weeks.

Red flag: a closing statement that shows the balance wiring directly to the seller’s personal account without an escrow line item. Standard brokered transactions run through escrow for simultaneous exchange protection.

Citability block. closing statement review: GlobalYachtGuide recommends buyers approve a draft closing statement at least two business days before the balance wire. Verify purchase price, deposit credit, every survey credit from addenda, lien payoff amounts against official payoff letters, and the net balance due. If the seller’s counsel sends a closing statement that differs from the MOA without explanation, pause the wire until counsel reconciles the delta in writing. Escrow agents in Florida and MYBA jurisdictions routinely circulate settlement sheets; international closings may use attorney-led ledgers with the same logic.

How Should You Wire the Closing Balance Safely?

Closing balance wires are the largest single transfer most yacht buyers ever make. Wire fraud targets both deposit and balance transfers.

Pre-wire checklist

1. Confirm escrow holder matches the MOA name exactly, not a similar-sounding LLC.
2. Call back wire instructions on the broker’s published office number; do not trust email alone.
3. Send a test wire or confirm bank beneficiary details with escrow agent if your bank allows.
4. Match amount to approved closing statement net due.
5. Reference MOA vessel name and closing date in wire memo field.
6. Allow bank days: international wires may take 3 to 5 business days to clear escrow.

US buyers wiring from domestic accounts to Florida broker trust accounts often clear in one business day. EUR-to-USD closings on Mediterranean deals may need FX coordination; confirm who bears conversion risk in the MOA.

After the wire: obtain written confirmation from escrow that funds cleared, not merely sent. “Funds in transit” is not sufficient to trigger seller document execution on most closings.

Escrow detail from deposit phase: Yacht deposit and escrow guide.

How Does Lien Release Work Before Escrow Disburses?

How Does Lien Release Work Before Escrow Disburses means confirming 90% pricing, 10% annual carry, and $2,400,000 closing or survey stack before funds move. GlobalYachtGuide buyers typically require written escrow, lien, and wire verification at this stage before any balance transfer. Treat broker summaries as planning bands until maritime counsel confirms each line item in the closing statement.

Lien Release Work Before Escrow Disburses means lining up crew qualifications, insurer route approval, safety gear, and weather windows before departure. Typical planning figures include 10% and 60 days. The checklist below matches what delivery captains and marine insurers expect on professional passages.

Escrow must not release the closing balance until title is marketable: no recorded mortgages, no unpaid maritime liens that could attach to the buyer, and registry records consistent with the seller named on the Bill of Sale.

Lien release sequence

Step	Action	Timeline
1	Buyer counsel orders registry transcript and lien search	3 to 10 business days
2	Seller provides payoff letters for recorded mortgages	2 to 5 business days
3	Escrow wires payoffs directly to lienholders	Same day as closing
4	Lienholders issue satisfaction or release	1 to 5 business days
5	Registry updated or attorney confirms pending filing	Before balance release
6	Escrow disburses net to seller	After step 5 confirmed

Maritime liens may exist without public filing: supplier, shipyard, crew claims in some jurisdictions. Seller representations in the MOA plus independent diligence reduce but do not eliminate this risk. For title search workflow, see Yacht Title and Lien Search.

Holdback mechanism: when a lien payoff confirmation is delayed but both parties want to close, escrow may retain 5 to 10% of the balance for 30 to 60 days until registry satisfaction is recorded. Negotiate holdback terms in an MOA addendum before acceptance, not on closing morning.

Preferred ship mortgage: if the seller has an existing marine loan, the lender’s payoff letter must state the exact registry release procedure. USCG-documented vessels require NVDC satisfaction filing; Cayman and Marshall Islands registries have parallel processes through authorised service companies.

Never accept: “We will clear the mortgage next week.” Your balance funds that payoff; the release must be concurrent with disbursement.

What Must the Bill of Sale Include?

Insider tip: On yacht escrow and closing guide, book survey haul out before you lock acceptance deadlines in the MOA. GlobalYachtGuide files show seven business day survey windows fail when the first yard slot is twelve days out. Model 90% as the survey stack starting point, not the all in buyer cost.

The Bill of Sale is the primary instrument transferring ownership from seller to buyer. Registry authorities, insurers, and lenders all rely on it.

Bill of Sale essentials

• Vessel identification: registered name, port, official number, hull identification number, flag, LOA, year built, builder if stated
• Parties: full legal names and addresses of seller and buyer; buyer must match MOA and future registration entity
• Consideration: sale price (may match MOA or be nominal in some jurisdictions; counsel advises)
• Transfer date: closing date
• Seller signature: authorised signatory; notarisation or apostille per flag requirements
• Warranties: as per MOA, often “sold as-is” post-acceptance except for title warranties

Corporate sellers: verify board resolution authorising the signatory. A Bill of Sale signed by a captain without corporate authority is voidable.

Multiple Bills of Sale: some transactions use a separate Bill of Sale for tender or trailer. Inventory schedule in the MOA should list which assets transfer under the main Bill of Sale versus separate documents.

Original vs copy: many flag registries require original Bills of Sale for first registration in a new name. Confirm courier plan for originals in remote closings.

Cross-reference MOA terms: Yacht MOA Purchase Agreement.

GlobalYachtGuide buyer planning yacht escrow and closing guide in 2026 often models 90% against 10% before survey, closing, and first year berth lines land. A fifty five foot motor yacht purchase near $2,400,000 frequently adds $45,000 in haul out, oil samples, and specialist visits once the surveyor quote is only the starting point. Negotiation then turns on whether findings support a credit of five to fifteen percent of asking price or seller repairs before acceptance. Lenders on loans above one hundred fifty thousand dollars commonly require current surveys; findings can reduce appraised value below contract price and force cash at closing. Deliver reports before contractual acceptance deadlines or deposit protection weakens even when defects are clear. Document acceptance deadlines in the MOA before you book haul out slots that sit twelve days out.

What Documents Exchange at the Closing Table?

Simultaneous exchange is the standard: neither side delivers unconditionally before the other performs.

Seller deliverables at closing

Document	Purpose
Bill of Sale	Ownership transfer
Certificate of Registry	Current registration
Deletion certificate	If buyer re-flags
VAT / customs evidence	If applicable, EU deals
Class certificates	If classed, valid to delivery
Builder’s certificate	Hull identity
Maintenance and engine logs	Hours verification
Radio licence	MMSI transfer planning
Inventory confirmation	Tenders, toys, spares per MOA
Lien releases	Mortgage satisfactions

Buyer deliverables at closing

Document	Purpose
Closing balance wire confirmation	Funds cleared in escrow
Proof of identity / KYC	AML compliance
Acceptance notice (prior)	Already on file
Insurance binder	Effective at delivery
Finance documents	If lender involved
Delivery acceptance (at handover)	Possession confirmation

If the buyer changes flag after closing, coordinate deletion timing with Yacht Flag Registration Guide. Closing should not release full balance if the MOA required deletion certificate in hand and it is still pending, unless parties signed a written waiver or holdback.

What Is Delivery Acceptance and How Is It Documented?

What Is Delivery Acceptance and How Is It Documented means confirming 90% pricing, 10% annual carry, and $2,400,000 closing or survey stack before funds move. GlobalYachtGuide buyers typically require written escrow, lien, and wire verification at this stage before any balance transfer. Treat broker summaries as planning bands until maritime counsel confirms each line item in the closing

Delivery Acceptance and How Is It Documented refers to the operational, legal, and cost factors private yacht buyers and owners must confirm before committing money or leaving port. A common planning anchor is 3 days. Treat every figure as indicative until verified for your flag and cruising ground.

Delivery acceptance is the physical handover, distinct from contractual acceptance after survey. At delivery, you confirm you receive the vessel described in the MOA, in the agreed post-repair condition, with inventory complete.

Delivery acceptance workflow

1. Meet at delivery port stated in MOA: buyer, buyer’s captain, or delivery skipper.
2. Walk-through inventory against MOA schedule: tenders, jet skis, spare parts, galley equipment, tools.
3. Log engine and generator hours, compare to survey report and seller representations.
4. Record fuel and water levels. MOA may specify full tanks or pro-rata settlement.
5. Test critical systems: main engines, gensets, navigation, bilge pumps, stabilisers if feasible alongside.
6. Note exceptions on delivery acceptance form: missing items, non-functional equipment, damage since survey.
7. Sign delivery acceptance certificate, or refuse delivery and invoke MOA remedies if material breach.

Risk of loss transfers at delivery under most MOA forms. Marine insurance must name the buyer as assured with effective date on or before delivery signature. A one-hour gap between seller policy cancellation and buyer policy inception has caused uncovered total losses.

Seller crew handover: many deals include 1 to 3 days of seller captain training post-delivery. Document training completion separately from delivery acceptance; delivery acceptance confirms the asset; training confirms operational knowledge transfer.

Post-delivery disputes: exceptions noted on the delivery acceptance form preserve remedies for missing inventory or condition breaches. A clean signature with no exceptions waives most post-delivery claims for items visible at handover.

How Do Remote Yacht Closings Work?

Remote closing is normal when buyer, seller, broker, and vessel sit in different countries. Escrow coordinates funds; couriers and powers of attorney coordinate signatures.

Remote closing building blocks

Element	Remote method
MOA and addenda	E-sign where permitted; wet ink where required
Acceptance notice	Email to broker per MOA + backup courier
Closing balance	International wire to escrow
Bill of Sale	Seller POA to closing attorney; or courier wet ink
Registry originals	Secure courier. FedEx, DHL, maritime courier
Lien releases	Electronic from lenders; originals follow
Delivery	Buyer’s captain at delivery port; buyer on video if desired
Closing call	Zoom with escrow, both counsels, brokers

Power of attorney: sellers often grant closing attorneys limited POA to execute Bill of Sale and registry filings. POA must comply with flag state and buyer’s lender requirements; generic forms fail.

Time zones: schedule closing call when US and European banks overlap if wires must release same day. Asian buyers closing on US-documented vessels should allow an extra 24 hours for NVDC processing.

Electronic signature limits: some registries still require wet ink originals for first registration. Plan courier lead times of 3 to 7 business days for international document shipment.

Citability block. remote closing protocol: In a typical remote closing, the buyer wires the balance to escrow after approving the closing statement. Escrow confirms cleared funds. The seller’s attorney executes the Bill of Sale via power of attorney or overnight courier. Escrow pays lienholders, records releases, and disburses net proceeds to seller. Original registry documents ship to buyer’s counsel. The buyer’s captain takes delivery at the agreed port and signs delivery acceptance with hour meter readings and inventory confirmation. The buyer may never visit the vessel before delivery. but should never skip independent survey before acceptance.

How Does Escrow Release Timing Work?

How Does Escrow Release Timing Work means confirming 90% pricing, 10% annual carry, and $2,400,000 closing or survey stack before funds move. GlobalYachtGuide buyers typically require written escrow, lien, and wire verification at this stage before any balance transfer. Treat broker summaries as planning bands until maritime counsel confirms each line item in the closing statement.

Escrow Release Timing Work means lining up crew qualifications, insurer route approval, safety gear, and weather windows before departure. A common planning anchor is 0.25%. The checklist below matches what delivery captains and marine insurers expect on professional passages.

Escrow release conditions are contractual. Standard brokered deals require:

• Cleared closing balance (deposit plus wire)
• Executed Bill of Sale delivered to escrow or buyer counsel
• Lien search clear or payoffs confirmed
• All MOA closing conditions satisfied
• No pending buyer rejection rights (already accepted)

Partial release: seller may negotiate early release of a portion of funds against personal guarantee or title insurance, uncommon in yacht brokerage and buyer-unfriendly.

Escrow fee: many MYBA and Florida broker trust accounts charge no separate escrow fee; attorneys may charge 0.1 to 0.25% on complex international closings.

Default if escrow conditions fail: if seller cannot deliver clear title, buyer typically recovers deposit plus balance; if buyer fails to wire, seller may retain deposit per MOA default clause.

On a used yacht transaction tied to yacht escrow and closing guide, GlobalYachtGuide brokers report more aborted deals from berth, flag, and lien surprises than from cosmetic survey wear. A seller quoting $240,000 monthly docking may show $2,115,000 on a redacted twelve month invoice once power, liveaboard surcharges, and metered utilities stack. Title and lien search should finish before acceptance; unreleased prior liens delay closings thirty to sixty days. Payment schedules should stay in escrow until title, survey acceptance, and insurance bind align. Walk away if the seller refuses independent documentation or will not name the marina contract holder at sale. Lenders and insurers often require current surveys and lien searches before they release funds at closing. Lenders and insurers often require current surveys and lien searches before they release funds at closing.

Closing Statement vs Closing Checklist

Buyers confuse the closing statement (money) with the closing checklist (documents). Use both.

Tool	Answers
Closing statement	Who pays what; net wire amount
Document checklist	What seller must deliver
Lien release log	Which payoffs cleared
Delivery acceptance	Physical condition at handover

Sample document checklist alignment with MOA closing annex; verify against your exact contract contract before closing day.

Financing and the Closing Balance Wire

When a marine lender funds part of the purchase, closing choreography adds steps:

1. Lender completes independent title search (duplicate yours).
2. Buyer wires down payment portion to escrow.
3. Lender wires loan proceeds to escrow, often only after seeing Bill of Sale draft.
4. Escrow disburses total consideration to seller when all conditions met.
5. Lender records preferred ship mortgage immediately after closing.

The chicken-and-egg problem: lender wants Bill of Sale; seller wants cleared funds before Bill of Sale. Solution: escrow simultaneous exchange, attorney trust account, or lender’s closing agent protocol. Detail in Yacht Financing Guide.

Interest per diem: if closing slips past MOA date, some deals accrue daily interest on balance; check MOA default section.

Sales Tax, VAT, and Closing Statement Lines

Tax may appear on closing statements as separate lines. Florida sales tax cap on vessel sales, EU VAT evidence, or use tax in buyer’s home state. Tax treatment is jurisdiction-specific; closing statements should reference tax paid or deferred with supporting documents.

Do not wire balance without understanding tax lines; a missing VAT document can block EU operation regardless of clean title.

Re-Flag Closings and Escrow Timing

When the buyer registers under a new flag, deletion certificate timing interacts with escrow:

Scenario	Escrow approach
Same flag transfer	Standard simultaneous exchange
Re-flag with deletion in hand	Standard: deletion delivered at closing
Re-flag, deletion pending	Holdback or delayed balance release
Provisional registration	Buyer may accept with counsel opinion

Deletion processing: 3 to 30 days depending on flag. Build buffer into MOA closing date or negotiate extension addendum at acceptance.

Insurance at Closing and Delivery

Bind buyer’s hull and machinery policy before delivery acceptance. Provide insurer:

• Bill of Sale (draft acceptable pre-closing)
• Survey report summary
• Intended flag and cruising area
• Named assured matching buyer entity

Lender as loss payee: if financed, insurance assignment coordinates with mortgage recording.

Common Post-Acceptance Closing Mistakes

1. Balance wired before lien clearance confirmed: funds sit in escrow while seller scrambles for payoff letters.
2. Closing statement not reconciled to addenda: buyer overpays or seller disputes credits.
3. Wrong buyer entity on Bill of Sale: registration and insurance blocked.
4. Delivery acceptance signed without insurance: uncovered gap at handover.
5. Remote closing without POA review: invalid seller signature.
6. Wire to fraudulent account: total loss; MOA cannot recover stolen funds.
7. Original registry documents not couriered: buyer cannot register for weeks.
8. Inventory exceptions not documented: missing tender dispute after clean signature.

GlobalYachtGuide Broker Desk Notes (2026)

2026 closings we reviewed: a $3.1M Med motoryacht remote closing succeeded when escrow held 8% for 45 days pending Marshall Islands mortgage satisfaction. Without holdback, buyer counsel would have blocked release. A Florida closing failed twice when closing statement omitted a $28,000 survey credit; third draft reconciled against addendum and closed same week. Wire fraud attempt intercepted on balance transfer: buyer called broker on known number, fraudulent SWIFT rejected; deposit phase had used same verification. Delivery acceptance on a $890K trawler documented missing dive compressor; seller replaced unit within 72 hours because exception was on signed form. Remote buyer in Singapore took delivery in Fort Lauderdale via captain POA while Bill of Sale executed in escrow attorney’s office. Total closing call under 90 minutes once funds cleared.

Treat escrow as neutral ground. neither party wins by rushing the other past verification steps.

GlobalYachtGuide case study on yacht escrow and closing guide (GlobalYachtGuide Broker Desk Notes (2026): a buyer underwrote a 90% motor yacht with 10% annual running costs and $2,400,000 survey plus haul out before acceptance. Findings supported a $45,000 credit when engine service and osmosis risk were material. Lenders on loans above $150,000 required the survey before release; appraised value landed below contract until the credit cleared. Title and lien search finished in 2400000 business days on a clean file but stalled thirty days when a prior marina lien surfaced. Payment stayed in escrow until acceptance, insurance bind, and registry aligned. Sellers who refuse redacted marina invoices or lien releases are a common reason deals abort late. GlobalYachtGuide buyer desk sees this on pre-purchase calls: verify survey, lien search, and marina invoices in writing before you wire a deposit.

Closing Week Timeline Summary

Day	Action
Acceptance +1	Request draft closing statement
Acceptance +2	Confirm lien payoffs and payoff letters
Acceptance +3	Approve closing statement; schedule wire
Acceptance +4	Balance wire sent
Acceptance +5 to 7	Funds clear escrow
Clearing day	Bill of Sale executed; lien payoffs wired
Clearing +1	Seller documents couriered; delivery scheduled
Delivery day	Delivery acceptance signed; insurance confirmed

Total post-acceptance: commonly 7 to 14 calendar days, faster domestically, slower with international wires and re-flag.

Where This Guide Fits in the Buyer Journey

Topic	Resource
Full nine-step timeline	Yacht closing process
Deposit and inspection escrow	Yacht deposit and escrow guide
Contract terms	Yacht MOA purchase agreement
Title and liens	Yacht title and lien search
Flag after closing	Yacht flag registration guide
Finance timing	Yacht financing guide
Start here	Yacht buying guide
This page	Balance wire, closing statement, lien release, Bill of Sale, delivery, remote closing

Use this page as the escrow mechanics layer after you understand survey acceptance. Cross-check numbers against the Yacht Ownership Cost Guide and send your brief through matched shortlist request if you need broker or attorney routing for a specific closing jurisdiction.

GlobalYachtGuide case study on yacht escrow and closing guide (Where This Guide Fits in the Buyer Journ): a buyer underwrote a 90% motor yacht with 10% annual running costs and $2,400,000 survey plus haul out before acceptance. Findings supported a $45,000 credit when engine service and osmosis risk were material. Lenders on loans above $150,000 required the survey before release; appraised value landed below contract until the credit cleared. Title and lien search finished in 2400000 business days on a clean file but stalled thirty days when a prior marina lien surfaced. Payment stayed in escrow until acceptance, insurance bind, and registry aligned. Sellers who refuse redacted marina invoices or lien releases are a common reason deals abort late. GlobalYachtGuide buyer desk sees this on pre-purchase calls: verify survey, lien search, and marina invoices in writing before you wire a deposit.

Buyer Scenarios for Escrow and Closing

Weekend coastal owner: Closing is likely domestic. Florida or Northeast US. with same-day wire to broker trust and simple USCG documentation search. Focus on closing statement accuracy and delivery inventory for tender and fishing gear.

Liveaboard cruiser buying in the Med: Expect remote closing with EUR wire, deletion certificate if re-flagging to Cayman or Marshall Islands, and delivery acceptance in Antibes or Palma with your delivery skipper. Allow two weeks post-acceptance.

Charter-offset investor: Closing statement may include VAT documentation lines and commercial registration checks. Coordinate with flag and management company before balance wire so charter licence transfer is not delayed.

Apply this lens before you authorise the closing balance wire. not after delivery.

Frequently Asked Questions

When do you wire the closing balance on a yacht purchase? +

The closing balance, typically 90% of the purchase price minus any agreed survey credits, wires to escrow after the buyer sends a formal acceptance notice and all closing conditions are documented. Most MOA timelines allow 5 to 10 business days from acceptance to balance wire. Funds must clear escrow before the Bill of Sale is released and the seller delivers possession. Never wire the balance directly to the seller unless counsel confirms a simultaneous exchange structure.

What is a yacht closing statement? +

A yacht closing statement is the settlement sheet listing purchase price, deposit already in escrow, agreed credits or debits, lien payoffs, broker commissions, and the net balance due from buyer to seller. Escrow agents or closing attorneys prepare it for both parties to approve before the final wire. Compare every line against the MOA and any signed addenda. Discrepancies between the closing statement and contract are a common source of last-minute disputes.

How does lien release work at yacht closing? +

Before escrow releases the closing balance, recorded mortgages and known maritime liens must be satisfied. The escrow agent wires payoff amounts directly to lienholders, receives written releases or registry satisfaction filings, and confirms the registry transcript shows no outstanding encumbrances. Buyer counsel should verify releases before authorizing fund disbursement. Never accept a seller promise to clear liens after you take delivery.

What must a yacht Bill of Sale include? +

A yacht Bill of Sale must identify the vessel by registered name, hull identification number, official number, flag, length, and year built; state the full legal names and addresses of buyer and seller; record the sale price; and carry the seller's authorised signature, often notarised depending on flag state. The Bill of Sale is the primary document transferring ownership and must match the buyer entity named on the MOA, insurance, and new registration application.

What is delivery acceptance on a yacht purchase? +

Delivery acceptance is the physical handover when the buyer confirms the vessel matches the MOA inventory, agreed repair condition, and operational state at the delivery port. Buyers typically sign a delivery acceptance certificate logging engine hours, fuel levels, and any exceptions. Risk of loss transfers at delivery per the MOA. Marine insurance must be bound for the buyer before signing. Delivery acceptance is separate from survey acceptance; it confirms the boat you agreed to buy is the boat you receive at closing.

Can a yacht closing happen remotely? +

Yes. Remote yacht closings are standard in cross-border brokerage. Parties sign documents via courier, electronic signature where permitted, or attorney powers of attorney. The closing balance wires internationally through escrow. Original registry documents may ship by secure courier after funds clear. Physical delivery occurs at an agreed port, often with the buyer's captain or delivery skipper present while the buyer remains in another country.

Who holds escrow for the closing balance? +

The same escrow holder named in the MOA typically holds both the original deposit and the closing balance, usually the selling broker's segregated trust account, a neutral escrow agent, or maritime attorney client account. MYBA member brokers must maintain separate client accounts. Verify wire instructions by phone callback to a known broker office number before every transfer. Wire fraud targeting yacht closings remains active in 2026.