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Old 09-14-2011
Sailski3 Sailski3 is offline
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Question Buying First Boat Advice Needed On Offer Process

Hi All,

After a few months of searching, I've found "The One". An Ericson 27. Since I am a boat-buying virgin, I need some help on what is customary. I am not willing to rely strictly on the Broker for advice as they are after max commission. (sorry to any brokers out there).

I will make an offer subject to personal inspection, survey and sea trial and a reasonable amount of time to launch the boat to new destination (till end of current month). Those are really the only stipulations I can think of as I am a cash buyer and have no other boat to sell.

What else do I need to know? What is the customary deposit to hold a boat through inspection? Do I have to be specific about what is not acceptable with the survey report or is it up to my discretion upon survey review? Is the offer a written or verbal process? Under what conditions is my deposit at jeopardy if the boat does not meet with my approval upon survey?

Anything else you seasoned boaters can suggest would be very much welcome information. I am hoping to make the offer today.

Thanks in advance.

Mike
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