Boat Inspection Trip Tips - Page 12 - SailNet Community
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post #111 of 198 Old 09-08-2009
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Quote:
Originally Posted by JohnRPollard View Post
Curm,

I get the impression that you've never read the standard purchase agreement used with boats sold through brokers.

In the standard boat broker purchase agreement, the contract language is tremendously advantageous to the buyer. As I previously mentioned, the language allows the buyer to survey and sea-trial the vessel, after which the agreed purchase price may be accepted by the buyer, or it may be subject to renegotiation or rescission.
Yes, you can walk away unless the "acceptance date" has passed, less any expenses incurred by the broker or seller.

I don't see the standard agreement as particularly favorable to the buyer. The time is of the essence provision hurts the buyer, as does the warranty disclaimer at the end.
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post #112 of 198 Old 09-08-2009
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Thanks for all the information. I’ve made check list with it.
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post #113 of 198 Old 10-21-2009
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Thank you so much for this post...I am currently in the process of buying my first boat..A Sabre 34 and you have help ease my fears of missing something and have gone ahead and made the offer subject to a survey and sea-trial...

John
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post #114 of 198 Old 11-26-2009
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Sailingdog- this is a great thred. Lots of good info in here.

Charles Gladden
Fishing Guide
Bald Head Island, NC
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post #115 of 198 Old 12-03-2009
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Good post. Probably not a bad idea to go through the list on boats we already own!
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post #116 of 198 Old 12-20-2009
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Based on a recent post I wonder if it is worth the trouble to hoist a tape measure up to the top of the mast to measure how tall it is. I have heard of people cutting the mast down a few inches to eliminate damage.
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post #117 of 198 Old 01-12-2010
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Thanks for that im about to buy my first boat and that is all good info
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post #118 of 198 Old 01-13-2010
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Excellant list. Most helpful. Printing it out in prep for next boating trip next week.
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post #119 of 198 Old 01-23-2010
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It is ironic that the previous comments have forgotten one of the very best sources. Search the web, especially sites devoted to that make and/or model.

I was very interested in a boat not too far from here and by using the Internet, learned that there was post compression, deck leaks, that the new engine didn't match the propeller, and that the sails were NDG. The seller knew all this but did not disclose it to the broker or to me -- at least that is what the broker said. So, apparently the plan was for me to negotiate an offer as if the boat was as advertised, spend several hundred dollars to discover the truth -- best case -- and then try to negotiate a more reasonable price.

I have two rules of thumb when buying used cars -- that I do a lot-- and I think that they apply. The first is that the seller is the most important variable. If you can believe in the seller (previous owner), then 90% of your problems disappear. Second, no one sells a vehicle that they are perfectly satisfied with. That would be ridiculous. If you can identify the straw that broke the camel's back, then you can make a very reasonable purchase. If you can't, then it is still important to rely on your assessment of the seller. Sometimes, it was the last repair they had to pay for -- that is terrific.

In my case, I was able to force the seller to divulge more of what they knew, including sharing the previous survey. I did not buy the boat, but it was purely a difference of opinion about reasonable price.

There are many protections in CA for home buyers, especially regarding disclosure of known problems. There ought to be something similar for boats and cars -- in my opinion. At a minimum, do Internet due diligence and see what you can find.
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post #120 of 198 Old 01-24-2010 Thread Starter
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Yes, owners associations and websites devoted to the boat can be a great resource, but many boats don't have the luxury of having a strong owners association or website devoted to them.

I'd also agree that the seller is a huge variable. The reason they're selling is often key to getting to the truth of what the boat is really like and why it is priced the way it is. I'd disagree that people don't sell boats that they love because there are many reasons for selling a boat, many of which have little to do with the qualities or condition of the boat itself. I've seen boats that were being sold because the spouse wanted it gone... or they were getting divorced, or they were getting married, or they were moving, or they were getting too old to handle it... etc... none of which means has any reflection on whether it was or is a problem boat.

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