Trading Real Estate for a Yacht

**TomWhitt** · 06-06-2009, 08:01 PM

I am a boat broker. No jokes please. Twenty years with a Fortune 50 company and a Rotarian. I am a good boat broker.

I am trying to determine if there is a standard legal vehicle to trade a yacht for real estate.

I am not a real estate broker and therefore I am limited on how I can be in the transaction. I however know this type of transaction has happened before.
Anyone have any ideas please? I also need a memorandum of understanding to assure my financial participation.
The property is currently listed with a real estate broker. The yacht is listed with a yacht broker. I have the client wanting me to put it all together.

Any help would be appreciated.

And for your time I will donate a portion, to be determined, to the charity of your choice, in your name.

Thanks.

Hope life is good for you.

Sailboattom

**TheDenverRealEstateGuy** · 06-13-2009, 05:25 PM

I don't know the answer, but will be watching this thread closely to learn.

**Greg** · 06-14-2009, 03:33 AM

An offer/contract to purchase the real estate with the purchase price being the yacht. You would probably have to use an addendum to declare which yacht is being used for the purchase to make sure the description is accurate.

This is definitely a matter for an attorney to handle as there are a lot of ways for both parties to get screwed over if it is not worded just right. Get a letter of intent signed by both parties and send it to a real estate lawyer.

Talk to the broker who has the house listed and see if you can get a commission agreement from them to protect you on that end.

I would think there has to be an exchange of some money just to cover the expenses but then if all the parties involved have enough cash this won't matter.