When purchasing a 40 + foot boat, a yacht in my opinion,..one must act like he is purchaseing a yacht. That will mean that the purchaser is aware of HIS responsibilities as well and the sellers responsibilities.
You find the boat ( Yacht ) you think is the one you want to purchase.
You make a contracted offer.
Offer contingent on :
1.Inspection to Your satisfaction,,,sure you have already seen the boat but did you Inspect it.
2. Boat to be surveyed by YOUR surveyor and if there is anything that shows up you can walk. period.
3. Good title to be shown before survey, no good to spend mony on survey and then find out that the boat has a loan for more than you are willing to pay for it. Or there are hidden partners
4. Seatrial to YOUR satisfaction. Doesnt matter if the boat sails well and motors well, if the seller said it was a great boat to sail and you go out for seatrials and find out it's under ballasted or say modified some how, or better yet, the engine has been replaced with a lower HP than original .... YOU must be satisfied or you walk.
Best to have surveyor with you at sealtrials and seller on board if possible.
5. AND THIS IS A BIGGIE....Insurance to Yours, the Banks, and all parties involved will be available before and bound by closing at a resonable cost by a reputable state certified insurance company. Period,
If for any reason insurance is not bound by closing, such as huricane in area, closing will be delayed till insurance is bound.
6. FULL DISCLOSURE REQUIRED,,,,when you purchase a house, it is the law that the seller's agent or seller makes full disclosure to the purchaser of any problems they are aware of with the house. THIS is NOT the law with boats in most states, especially FLORIDA.....You can make it the law by contract. YOU want full disclosure from the seller, you want him to tell you, show you any damage he is aware of,,old huricane problems, repairs, ect.
In most cases, the seller will not tell the truth, the broker can not tell the truth, and you the purchaser pays for the truth...Get the whole story or WALK......
Doese it sound like I am on a tangent hehe.
I was a Yacht broker for 30 years, after a 12 year stint inland, My wife and I went looking for a boat in Florida, I was appalled at the dishonisty of the Yacht Brokerage industry down here.
They have thrown ethics OUT th window and most of the brokers are inept.
So I hope some of this helps you......I really enjoyed selling boats when the seller-buyer and myself could all be involved, seatrialing, surveying and just being honest with each other,,,most deals used to be that way, now I dont think so, make your deal that way or WALK there are plenty of boats out there.
One more point. If you are thinking about Living aboard this boat, Make sure you have a live a board slip BEFORE you buy the boat. They are getten very hard to find. AND in fact, living aboard your boat is being legislated out in a lot of areas. So just be diligent, and use a good broker if you can find one
O and I almost forgot, I was about to purchase a Hunter 42 before I stumbled onto this 42 Endeavour,,, I loved the Hunter, I used to be a Hunter dealer and they are a lot of boat for the money, just arnt for every one, so that's YOUR decission.