Why would anyone ever buy a yacht?

Beware of Scam!

Even if you have viewed the boat and signed the sales contract, it is not certain that you will actually receive your goods. The boat does exist, but there are still plenty of opportunities for fraudsters to deceive. The sellers often offer to have the action run through an escrow service. This guarantees the buyer security and in the event of an improper process he will get his money back.

There are now several options for escrow services. The first possibility is that the seller is serious, then the broker will also be serious. A second variant is that the escrow service is completely fake and you transfer the money directly to the fraudster's account. Most of such websites are very professionally designed and users log on cluelessly. Not all alleged sellers make the effort and design a website to imitate an escrow service. Often it is sufficient to give the buyers an account details and to claim that these are the bank details of an escrow service. In reality, the money is then also transferred directly to the seller, who can then freely dispose of it. He won't deliver the boat.

But even if the escrow service is genuine, this does not constitute a guarantee. The seller can forge necessary documents and thus illegally withdraw the money before the boat has been handed over. Once paid out, the money is lost. Such accounts are not only offered for sales, some sellers want to use them for a viewing. the buyer should transfer money to an escrow account in order to be allowed to inspect the boat. In the case of serious sales, it is unusual to have money deposited in an escrow account for viewing a boat.

Do not accept such an offer. If you want to use an escrow account for the purchase, choose the right agent yourself and use the escrow service offered by the seller. If this insists on a certain service, be suspicious and rather forego the offer.