Grab Bag Sailboats, Inc.
P.O. Box 675 Mayo, MD 21106
(301) 261-4079

Boat Year, Length, Make & Model
Boat Reg No.          
Titled Owner(s)
Asking Price
The Undersigned, hereafter referred to as Owner, appoints Grab Bag Sailboats, Inc d.b.a. G.B.S. hereafter referred to as Agent, to act on his behalf in selling the above described yacht. It is agreed that the Agent will exercise every reasonable effort to obtain a buyer and will negotiate for the owner to conclude a sale at the price specified and/or acceptable to the Owner. In the event the Agent is the sole Agent involved in the sale of the yacht, h/she may act in the capacity of Dual Agent, representing the interests of Owner and Purchaser under such circumstances. The Owner agrees that such representation shall not render this agreement voidable or result in any change of commission due as provided herein.
Agent's insurance does not cover boats not owned by G.B.S., an Agent is not responsible for losses incurred to Owner's property as a result of theft, vandalism, pilferage, accidents, storms, fires, or other acts of God. IT IS THEREFORE STRONGLY SUGGESTED THAT OWNERS MAINTAIN PROPER INSURANCE COVERAGE. (Outboard motors should be removed from boats. Inside storage is available for $25.)
Responsibility for the care, custody, and control of the Yacht remains entirely with the Owner. Although the Agent may recommend storage, maintenance, and other providers of service, the final decision to employ such services remains with the Owner. The Agent may not be held responsible for damages suffered by the Owner as a result of employing such services. Dry storage is payable when billed, ask for current rate. To maximize the possibility of a sale the Agent is authorized at Owner's expense to spend up to $100 for any incidental repairs and clean up. Travel lift fees, blocking and power wash are billed separately.
Should a Lien exist on the boat, the Owner will 1) provide the approximate amount of the outstanding balance and the loan account number 2) authorizes Agent to pay off the balance from Owner's share of the proceeds and to obtain title from lender for Owner's signature. Owner agrees to deliver to Agent all title and/or proof of ownership documentation for boat and/or trailer, or photocopies thereof, at the time the listing agreement is signed or shortly there after. This authorization constitutes and exclusive listing and shall remain in effect until terminated by written notice, with termination taking effect 30 days thereafter. THE OWNER WARRANTS HAVING GOOD TITLE AND THE LAWFUL RIGHT TO CONVEY SUCH TITLE TO THE YACHT.
In the event of a sale, Agent will be entitled to a commission of 10% of sale price or a minimum of $1750. In the event Owner should sell the boat himself, Agent will be entitled to a 3% sales commission and payment for cleanup, repairs, storage and transportation charges, if applicable. Should Owner provide Agent with the name of a prospect who later buys the boat, Owner will receive a 20% commission rebate. Should owner advertise boat himself he agrees to use Agent's asking price. If Owner cancels this agreement, all charges for repairs, storage, transportation, etc. will be paid before the boat is removed. If a sale is consummated within 90 days after termination of this agreement with a party procured through the efforts of the Agent, said Agent shall nevertheless be entitled to full commission.
Owner authorizes Agent to operate the vessel whose registration is attached using Owner's registration which shall be kept current by Owner until transfer of ownership pursuant to sale of the vessel or termination of this agreement by written notice.