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Purchase and Sales Contract or Offer to Purchase

Posted 3/8/2018

A purchase of a vessel can be a dream come true but in a transaction between two individual’s numerous circumstances can occur that neither the buyer or seller may have anticipated, you will want to make sure that all aspects of the purchase are included in your Purchase and Sales Contract or on your initial Offer to Purchase.

Important factors may escape us when purchasing a vessel, or it may be the lack of knowledge of specific laws in another country that we may not be aware of, these circumstances and other important factors are taken into consideration when we at Legal Marine prepare your contract or offer.

Among the many details of your contract it will also include the reception of funds, disbursement of funds, and lien payment if the circumstances require it.

We, at Legal Marine Inc., with years of experience, will make sure that all of your interests are covered and protected with a customized Offer to Purchase or a Purchase and Sales Contract according to the specifics of your purchase or sale of a vessel.

There is however a difference between an Offer to Purchase and a Purchase and Sales Agreement. The Offer to Purchase is always conditional to certain options, for example, the offer could be subject to a survey and sea trial and this will need to be included in your Offer to Purchase as well as the re-imbursement of any deposit that was transferred in escrow, whether it be to a broker, the seller himself or Legal Marines’ escrow account.

For more information or to discuss your particular needs, please do not hesitate to contact our staff.

From the team at Legal Marine