Deposits and final purchase funds are held in a dedicated, secure escrow account by the licensed marine closing agent or escrow provider the buyer and seller choose — not by YachtPact. Funds are only released once all closing conditions are met and both parties have signed off.
The closing agent or escrow provider you choose performs title and lien searches as part of the closing process.
From Bills of Sale to Transport Canada or USCG registration paperwork, the closing agent or escrow provider you choose prepares the documents needed to complete the transaction.
Many closing agents let you review and sign documents securely online.