KNOW THE PROCESS
Receive offers from various brokers world wide. Check registry of the vessel including complete details with plans,photos, proof of Light Weight & Other material information
If the sellers terms are to sell the vessel on 'AS IS Where IS Basis' we request for the delivery cost from our Ship Managers After reviewing all the details & doing our costing we place the initial offer with the broker based on the seller's terms
Sellers then evaluate our offer and send a counter price to all the buyers or top cash buyers depending on the seller will. After receiving the counter we either have to accept or give a revised offer to the sellers in which the broker guides us on what he feels could be the closing price. After sending revised offer they may recounter or accept the offer
Once offer is accepted the broker sends an confirmation email to all the parties.On acknowledgement of the confirmation letter the broker will prepare a recap of the whole deal which both sellers & buyers have agreed to avoid any misunderstandings in future.
After the recap is confirmed, the sellers will provide a draft MOA. Nowadays the draft MOA terms a re sent at first along with the vessel details which all buyers need to agree and accept the terms before bidding. The MOA is signed by both the parties via email communication.