Boat Too Cheap to get a Buyer's Broker? - Page 2 - SailNet Community
 6Likes
Reply
 
LinkBack Thread Tools
post #11 of 27 Old 07-11-2013
Broad Reachin'
 
kwaltersmi's Avatar
 
Join Date: Aug 2006
Location: Grand Rapids, Michigan
Posts: 1,934
Thanks: 1
Thanked 17 Times in 17 Posts
Rep Power: 9
 
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.

Catalina 34

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
kwaltersmi is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #12 of 27 Old 07-11-2013
Junior Member
 
Join Date: Mar 2000
Location: Aurora, KY
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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.
sailrj is offline  
Quote Quick Reply Share with Facebook
post #13 of 27 Old 07-11-2013
4ksb specialist.
 
SHNOOL's Avatar
 
Join Date: Jun 2007
Location: East Stroudsburg, PA
Posts: 1,606
Thanks: 11
Thanked 77 Times in 73 Posts
Rep Power: 9
 
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.

"Rum Line" an S2 7.9 - cheap, fast, trailerable, and paid for.

Last edited by SHNOOL; 07-11-2013 at 09:22 AM.
SHNOOL is offline  
Quote Quick Reply Share with Facebook
post #14 of 27 Old 07-11-2013
ASA and PSIA Instructor
 
Join Date: Apr 2000
Posts: 3,565
Thanks: 7
Thanked 24 Times in 24 Posts
Rep Power: 16
 
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.

Certified...in several regards...
sailingfool is offline  
Quote Quick Reply Share with Facebook
post #15 of 27 Old 07-11-2013
TQA
Bombay Explorer 44
 
TQA's Avatar
 
Join Date: Apr 2009
Posts: 2,909
Thanks: 0
Thanked 79 Times in 75 Posts
Rep Power: 7
 
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.
TQA is offline  
Quote Quick Reply Share with Facebook
post #16 of 27 Old 07-11-2013
4ksb specialist.
 
SHNOOL's Avatar
 
Join Date: Jun 2007
Location: East Stroudsburg, PA
Posts: 1,606
Thanks: 11
Thanked 77 Times in 73 Posts
Rep Power: 9
 
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).

"Rum Line" an S2 7.9 - cheap, fast, trailerable, and paid for.
SHNOOL is offline  
Quote Quick Reply Share with Facebook
post #17 of 27 Old 07-11-2013
Senior Member
 
sailpower's Avatar
 
Join Date: Jun 2008
Location: Fort Lauderdale
Posts: 296
Thanks: 1
Thanked 8 Times in 8 Posts
Rep Power: 8
 
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.
sailpower is offline  
Quote Quick Reply Share with Facebook
post #18 of 27 Old 07-11-2013
Senior Member
 
shadowraiths's Avatar
 
Join Date: Nov 2011
Location: On my sailboat
Posts: 263
Thanks: 28
Thanked 13 Times in 13 Posts
Rep Power: 4
 
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.
shadowraiths is offline  
Quote Quick Reply Share with Facebook
post #19 of 27 Old 07-11-2013
ASA and PSIA Instructor
 
Join Date: Apr 2000
Posts: 3,565
Thanks: 7
Thanked 24 Times in 24 Posts
Rep Power: 16
 
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.

Sent from my DROID RAZR using Tapatalk 2

Certified...in several regards...

Last edited by sailingfool; 07-11-2013 at 07:21 PM.
sailingfool is offline  
Quote Quick Reply Share with Facebook
post #20 of 27 Old 07-11-2013
Senior Member
 
davidpm's Avatar
 
Join Date: Oct 2007
Location: Madison
Posts: 3,995
Thanks: 249
Thanked 61 Times in 52 Posts
Rep Power: 8
 
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?

The lesson from the Icarus story is not about human failing.
It is a lesson about the limitations of wax as an adhesive.
If you have an engineering problem solve it.
davidpm is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
buyer's broker payment questions fowlerpb General Discussion (sailing related) 24 10-29-2012 04:38 PM
Buyer's Broker Question AleksandarB Boat Review and Purchase Forum 5 03-16-2011 10:10 PM
Choosing a buyer's broker sprattstrp Boat Review and Purchase Forum 10 05-31-2010 08:14 PM
Buyer Broker East Coast kmahren Boat Review and Purchase Forum 4 08-25-2008 05:14 PM
Buyer broker and Initial Bidding Strategy artbyjody Boat Review and Purchase Forum 26 03-26-2008 10:40 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome