Why a BYSC survey can save you a lot of money when buying a yacht.

The survey by a BYSC inspector provides without a doubt a list of defects in the inspected yacht.

The statement ‘in perfect condition’ by the seller is simply never accurate. This does not necessarily mean that the seller is ill-willed, it may also be that he was unaware that there were defects.

In any case, it is simple: the price for ‘in perfect condition’ is not the same as the price for the current condition with a list of defects. The seller will have to take the defects into account in his price and either reduce his price or remedy the defects.

The price of a survey at BYSC is immediately recouped by the lower price, or by the repairs of the defects paid by the seller.

An example: for a 10m yacht you pay 340 Euro for an inspection. Without a doubt, this provides a list of defects. With this list in hand, it is not uncommon in negotiations between buyer and seller to earn back ten times this amount. A 5 to 10% reduction on the asking price is the norm. In addition, the price of an inspection is nothing.

That is why calling in BYSC is certainly a good thing when buying a yacht.

Golden tip: have an article included in the purchase / sale agreement whereby you have the right to have an expert perform an inspection within a certain period (10 days for example) and where it is agreed who will compensate for the defects found. It is also best to mention that if the defects are too great (for example more than 10% of the asking price), you have the right to terminate the agreement unilaterally.

Do not forget to mention who pays the costs of inspection, drying out, etc.