OFFER PROCEDURES
Offers are accumulated weekly through each Monday at 4:00 PM ET. In the event a particular Monday is a Federal Holiday, the deadline is extended an additional 24 hours. The high offer on a particular vessel is submitted to the Seller for consideration the following business day. The Seller, at its sole option, may accept or reject with or without a counter offer. Responses typically occur within 48 hours, no response constitutes a rejection of theoffer.
Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 1 business day to deposit into National Liquidators escrow account, the greater of 10% of Gross Offer or $1,000.
Upon notification of acceptance of an offer (either verbal or electronic), successful Bidder has 5 business days to complete any and all conditions listed above in the “Conditions Of Offer”. In any case, any remaining amounts due must be deposited into National Liquidators escrow account, within 5 business days after notification of acceptance of an offer (either verbal or electronic). Successful Bidder’s failure to fund the total offer price within 5 business days after notice of acceptance will result in forfeiture of any deposits. In these instances, the vessel will be placed back into the auction cycle.
After funding the total offer price, Successful Bidder must remove the purchased vessel from National’s storage facility within two business days or make storage arrangements with National. Storage charges will accrue on ALL purchased vessels until each is removed from National’s storage facility. Standard storage rates apply; refer to http://www.yachtauctions.com/services for currentrates.
All vessels are sold AS IS, WHERE IS, with no warranties or representations, express or implied, as to condition or fitness for a particular purpose.
NOTICE REGARDING TITLING OR US COAST GUARD DOCUMENTATION
National Liquidators makes no guarantees, representations or warranties as to title or the ability to document or register the vessel. National Liquidators are acting as a broker only and issues as to title, documentation and registration are between the Buyer and the Seller, owner or lien holder. The required $399.00 administrative fee covers National’s efforts to obtain titling and documentation information from the Seller; it does not include transfer of title or documentation to Buyer. National Liquidators can process transfer of title or documentation to Buyer an additional fee. Buyers that are interested in this service can contact National’s title department for details, including charges. Ohio Law requires National to transfer title (not USCG documentation) directly to Ohio residents only, a $150 fee is charged for this service.
IMPORTANT INFORMATION REGARDING SALES TAX
Purchasers must pay sales tax at the applicable rate in their respective states. Dealers that wish to be treated as tax-exempt are required to provide a state sale tax number, valid marine dealer’s certificate, sign a Resale Certificate or Statement for Exemption of Purchase, and any other required documentation.
METHODS OF PAYMENT
All payments required herein must be in certified funds or bank check drawn on a US bank, wire transfer or cash. Personal checks or credit cards are not acceptable.
