You end up making the offer based on what you think the condition of the boat is. If they accept the offer, then you find out upon inspection that it isn't in as good of shape as you thought, then you withdraw right then. Bosun makes a good point about the survey.
Sequence of events goes like this:
1. Ask questions of broker about condition of boat.
2. Make offer based on that information.
3. If accepted, inspect the boat yourself (there is a good thread on that here).
4. If you still like it, then you do a sea trial.
5. If you still like it, then you have the boat hauled and surveyed.
Keep in mind that after steps 3, 4, or 5 you can amend your offer. If you see something on inspection you don't like, tell the broker and that due to inspection you would like to renegotiate the price. If they agree, great. If not, you walk. You can do the same after the sea trial or survey as well.
PS: Keep in mind that it is a buyers market. Don't feel pushed by a broker. You have cash in your pocket and are buying in one of the worse boat markets ever and are doing so at the end of the season.
S/V Legacy, Catalina 400 MkII, Hull #328
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Last edited by dhays; 09-14-2011 at 04:49 PM.