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Go Back   SailNet Community > On Board > Boat Review and Purchase Forum
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  #11  
Old 07-11-2013
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Re: Boat Too Cheap to get a Buyer's Broker?

I don't think you need (or want!) a broker or buyer's agency agreement in that price range. In my experience, they'll muck up what could be an otherwise simple transaction.

Call your local brokers and tell them what you're looking for and ask for a phone call if they hear of anything that matches your needs. I've done that several times over the years. Some brokers are happy to add you to their call/email network to notify you.
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Old 07-11-2013
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Re: Boat Too Cheap to get a Buyer's Broker?

I've purchased 3 boats over the years, the first being a 22' and the last a 35'. Did not use a broker for any, but did have a survey on the 35'. Genea smaller boat does not have the systems and amenities of a larger boat, which equates into less that can have a problem. Most boat owners will be upfront about the condition if you ask the right questions. By the time you look at several, you will be able to know the ones that have been taken care of and the project boats- and the ones in between. Lastly, if you know any sailors- ask for their input. Most will share their knowledge and experience.

Don't know where you are located, but our marina manager here on Kentucky Lake was telling me about a 1980's, 30', Catalina, new engine- but does need some TLC. Asking $8000, suspect $6000 will buy.
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Old 07-11-2013
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Re: Boat Too Cheap to get a Buyer's Broker?

Quote:
Originally Posted by FlyingJunior View Post
If you find a sailable 30-footer for $3k I wanna see that boat. 25' ok, maybe even 27'.
Wake up and smell the depression:
1981 Pearson 26 One Design sailboat for sale in Michigan
1968 morgan m-30 -01 sailboat for sale in New Jersey
82 Catalina Sailboat sailboat for sale in South Carolina
1972 CAL 27 sailboat for sale in Virginia
1967 Pearson Triton sailboat for sale in Massachusetts
75 ODay 27 sailboat for sale in Massachusetts

I didn't even look that hard. Sure some of these are projects, but the scary part, is NOT as big a project as you'd think.
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Re: Boat Too Cheap to get a Buyer's Broker?

Quote:
Originally Posted by tibido View Post
Hey everyone, first post.

I'm planning to buy my first boat this summer. I've read a handful of books with a lot of advice on what to do, including getting a buyer's broker.

The type of boat I want to buy will be a 25'-30' daysailer / weekender costing not more than $3k. For a purchase in this price range, is it still advisable to enlist the help of a buyer's broker? Do you expect any respectable buyer's broker would engage in a deal with such a low selling price?

Thanks for any input.
-tibs
I have yet to see any evidence of a buyer's broker in the boat business. You as a buyer, can chose a friendly broker, and work with him/her regarding the purchase of any listed vessel ala Yachtworld (similar to a RE MLS), but that broker will be compensated by the seller from the sale proceeds.

Perhaps you can find someone willing to help you find a boat for a fee out of your pocket, but I doubt anyone who has yacht broker credentials would get so invovled.
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Re: Boat Too Cheap to get a Buyer's Broker?

That Morgan looks like it could be a good deal for someone who can lift it and has space to store it while they work on it.
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Re: Boat Too Cheap to get a Buyer's Broker?

Actually shocked myself how many boats I quickly found under $4000.
Be wary though, especially NJ/NY lots of damaged boats around after Sandy, most are very wisely marketed as such. Even those can be deals too though (for someone willing to put some work in).
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Old 07-11-2013
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Re: Boat Too Cheap to get a Buyer's Broker?

Quote:
Originally Posted by chuck53 View Post
I think most brokers charge 10% commission with a minimum of $500. So a $3000 boat will have a commission of $500 split between 2 brokers for $250 each. I've met brokers who wouldn't walk down the dock for $250.

For the money you are looking to spend, I think Bljones is right, you going to be doing your own tire kicking and dealing directly with sellers - no brokers involved.
It's actually worse than that as the house takes half of the $500. That leaves $250 to split two ways = $125 per broker.
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Re: Boat Too Cheap to get a Buyer's Broker?

When I purchased my boat, there were potential title problems, so I contacted a broker. They would have done the title search + all the transfer paper work for $250. After more research, I did the title search myself (to ensure there were no liens). It was touch and go, at first, but with persistence, and due diligence, I was able to acquire my boat, sans broker.

So, to the question, why would you need a broker? Primarily to ensure a clean title. Though, again, and imho, you can do that sort of footwork, yourself. ymmv, of course.
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Re: Boat Too Cheap to get a Buyer's Broker?

As a rule if the boat is listed with a brokerage, you will work with a broker on its purchase and it is not your choice.

In general if the boat is not listed with a broker you will not work with a broker on its purchase.

Period. You really don't get to chose. Whether the boat is listed with a broker decides it.

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Last edited by sailingfool; 07-11-2013 at 07:21 PM.
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Re: Boat Too Cheap to get a Buyer's Broker?

Quote:
Originally Posted by shadowraiths View Post
After more research, I did the title search myself (to ensure there were no liens). It was touch and go, at first, but with persistence, and due diligence, I was able to acquire my boat, sans broker.
How did you do the title search?
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