Buying from a private party, not a broker - Page 2 - SailNet Community
Reply
 
LinkBack Thread Tools
post #11 of 17 Old 03-14-2002
Senior Member
 
Join Date: Dec 2001
Posts: 360
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 15
 
Buying from a private party, not a broker

First, let me say that I have very limited experience when it comes to shopping for a boat. So far, I''ve looked at a few boats with the help of a broker, and have also looked at two boats with the help of the current owner''s. I all cases so far, the owners were more helpful than the brokers. They obviously knew more about their own boat, and were more willing to share the boat''s short-comings.

Perhaps I''ve been lucky in that I''ve dealt with honest owners, but perhaps that''s the norm rather than the exception.

With regard to price, one owner was very clear, that if he could sell the boat without the broker, the price would be less. The boat had some problems I could not live with, so the deal didn''t go through.

I''m currently negotiating another for-sale-by-owner boat. If the rest of the process turns out as good as that done thusfar, I''ll have the boat before the end of the month. I honestly don''t think a broker would have made the deal any better, but of course, we did not go that route, so I can''t be sure. ;^)
928frenzy is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #12 of 17 Old 08-09-2009
Junior Member
 
Join Date: Aug 2009
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
If you put money in escrow you should be safe. I have done all the name and owner change documentation myself. It is not complicated and I can't see paying a service for that.
mikethepilot is offline  
Quote Quick Reply Share with Facebook
post #13 of 17 Old 01-17-2016
Junior Member
 
Join Date: Jan 2016
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Re: Buying from a private party, not a broker

I like to buy directly from owner. Think how the market changes in the housing, in the travel business. Do you need a realtor to sell your house? Think Do you need a travel agent to book your vacation. YES I we don't support the job market. But I have seen to many crook in the housing and recently the way our so call "reprensative of the buyer" acted make me sick. There maybe 10 to 15% of honest brokers and they make their living honestly but to many are from to Old School with old tric suck OH by the way there is another couple who want to buy the same boat (LOL) I am retired not retarded. So, Go on the web. Watch this coming generation. The Internet is in our hand. Are we afraid of paperwork. Look carefully what kind of paperwork you need it is not complicated. We had no choice to buy with a broker the seller was lock with a broker and had to pay 10% of commission. The broker almost did nothing. His secretary send us few sheet of paper and this is it. Don't be afraid of the paperwork it is your money after all. Paperwork isn't complicated you can read you can do it yourself.
When I will sell our boat I will go on the web and find a way to get on the major websites.
I do business everyday on the web without any add in the newspaper or specialized magazine and it works.
Of course if you don't care about the 10% a broker charge go for it and let them do the job. This is your call. Maybe soon brokers will adapt to our needs? Should I hope ?
Picou is offline  
Quote Quick Reply Share with Facebook
post #14 of 17 Old 01-17-2016
Dirt Free
 
boatpoker's Avatar
 
Join Date: Jul 2008
Location: Toronto
Posts: 1,375
Thanks: 18
Thanked 43 Times in 41 Posts
Rep Power: 9
 
Re: Buying from a private party, not a broker

Quote:
Originally Posted by mikehoyt View Post
r"
"We do not normally sell boats that small but I have this Viking 28 that is listed for 11,000 that you can probably buy for 8,000"

Every time I inquired on a boat the brokers were quick to tell me how low I could probably bid. As a buyer that is great. But what about the seller? Why was the first boat listed at 11,000 if it was only worth 8,000? It seems in this instance the broker convinced the owner that he would get one amount.

I would think a realistic owner would check around to see what similar models sell for and then could sell it for 95%
Perhaps the broker it listed at 11k because the unrealistic owner demanded even tho' the broker told him he'd never get more than 8k.

A "realistic" owner is of a kind that I have rarely come across. The last Viking 28 sold from Yachtworld
sold for $3,440

Be the man Sharon thinks I am - wg
I can do that
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
- wg
Be the master of your own disaster - wg
If you're not laughing, you're not doing it right. - wg
if you can live with the consequences, go for it. - wg
I yam what I yam an' thats all that I yam. - Popeye

Last edited by boatpoker; 01-17-2016 at 07:57 PM.
boatpoker is offline  
Quote Quick Reply Share with Facebook
post #15 of 17 Old 01-17-2016
Just another Moderator
 
Faster's Avatar
 
Join Date: Sep 2005
Location: New Westminster, BC
Posts: 18,330
Thanks: 129
Thanked 460 Times in 437 Posts
Rep Power: 10
     
Re: Buying from a private party, not a broker

Quote:
Originally Posted by boatpoker View Post
Perhaps the broker it listed at 11k because the unrealistic owner demanded even tho' the broker told him he'd never get more than 8k.

A "realistic" owner is of a kind that I have rarely come across. The last Viking 28 sold from Yachtworld
sold for $3,440
Agree with your point, BP, but did you notice you quoted a post from 2002? (even so.. we sold a pretty basic, outboard equipped Viking 28 in 1992 for under $10K)

Ron

1984 Fast/Nicholson 345 "FastForward"

".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
Faster is offline  
Quote Quick Reply Share with Facebook
post #16 of 17 Old 01-18-2016
HANUMAN
 
RobGallagher's Avatar
 
Join Date: Aug 2001
Location: Noank, Connecticut, USA
Posts: 2,304
Thanks: 23
Thanked 59 Times in 58 Posts
Rep Power: 16
 
Re: Buying from a private party, not a broker

If I ever buy a bigger boat, say one that requires a deposit of over $5K, I will get a lawyer.

I put down 3K on boat, pending survey, etc. The boat failed the survey so bad that the surveyor let me out for a reduced fee without completing the survey.

The broker stopped returning my calls and I was on the verge of getting a lawyer.

This was a Beneteau dealer and, lucky for me, the boat I decided to purchase was listed with another Beneteau dealer. I'll drop a name here...Tim Wilbricht at Annapolis Yacht Sales was a big help getting my deposit back and did everything else a broker should do, plus a lot more.

You would not buy a home without a lawyer. Why would you buy a 100K sailboat without a lawyer?

HANUMAN
'88 C&C 30 MKII
NOANK, CT
RobGallagher is offline  
Quote Quick Reply Share with Facebook
post #17 of 17 Old 01-18-2016
Senior Member
 
Join Date: Jun 2012
Location: Earth
Posts: 200
Thanks: 8
Thanked 4 Times in 4 Posts
Rep Power: 5
 
Re: Buying from a private party, not a broker

We have owned two boats. They were both FSBO, and relatively inexpensive. When we looked at boats we stayed in a local-ish area.

As to the relationship with the owner, as stated before, one can learn a lot about the boats history from the PO.

When we were looking at boats we were straight forward an respectful, we did a bit of our own survey before we hired a pro to do the formal survey, we look at everything, tapped decks, look at the rigging crawled into corners looked at hull to deck joints, checked for leaks, etc. etc. this helped cull the herd as it were.

In both of our purchases neither owner cared how much we poked around, as it should be, they were good folk and it showed in their actions and asking price.

The actual monetary exchange was easy, a basic contract spelled out with what was needed by both parties, the refundable deposit was made, the surveyor did his work, we then agreed on the final price, wrote the check and took possession of the boat and brought it home.

We spoke to a three of brokers while looking, one struck us as a bit shifty, and one was uninformed, the last guy was quite honest in his assessment of the boat we looked at with him.

If an owner is restrictive about you crawling around their boat pre official survey to scope things out it is a bad sign on multiple fronts, and one should likely move on imo.

1977 Bristol 29.9 #17
A slave to the wind

Last edited by Pegu club; 01-18-2016 at 12:33 PM.
Pegu club 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
Yacht Broker "Certification" GordMay Boat Review and Purchase Forum 3 01-26-2005 12:59 AM
Broker and buying a boat gdwyer Boat Review and Purchase Forum 2 06-17-2004 03:59 AM
How do I buy a boat without a broker? BobMacey Boat Review and Purchase Forum 1 03-25-2004 04:39 PM
Best way to use a broker? I''m 0 for 2. dnr Boat Review and Purchase Forum 14 11-26-2002 05:40 AM

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