Jeff_H and all,
I have read and re-read many of the discussions on this board regarding the selling and buying process. I think I have a general feel for how it goes, but this would be my first "large" boat purchase. I have been on boats, raced considerably, and recently bought and sold a newer Thistle. I live and will sail this boat in coastal North Carolina and possibly the west coast of Florida in the next 3 to 5 years.
I have a few questions regarding price. The J/30 I have looked at seems to be in good and realitively clean shape. According to the broker, the boat was never raced and a lot of the hardware is original. (Which is a good point for me, less mistakes by previous owners "upgrading" the boat). The sails are also old and would need replacing, but generally the boat "seems" in good shape. Especially in comparison to a lot of other boats I have been seeing in NC.
One question I have is the boat is listed at the bottom of the scale on yachtworld. I know to make it race-ready would be costly, but we plan to mostly coastal cruise, overnight and do week-long trips on the boat. (We is me and my wife only). The price is below BUC and I guess the question I have is should this scare me or is this a tell-tale sign I should be more wary of. If I make an offer I would do a full survey both structural and mechanical, but the low price still seems too low based on what is offered on yachtworld now. I am aware of there common problems and will certainly find a surveyor that does also.
Second question is how low to go on a first offer. Considering most people interested in this boat are probably one-design racing minded and the boat would probably take 10 to 15k to make it competitive.....Do you have any feel for what is too low to start with? I have seen execellent, up to date boats with good pedegree''s sell between the high 20''s and low 30''s.
Last question is on financing. Figuring the selling price could be between 18.5K (offered price) and maybe 15k or less, what is the best type of loan on a 1979 j/boat? I have been thinking a combination home equity and boat loan. (Unfortunately, we might not have quite enough equity for the whole thing - we''re relatively young and work in education, read - not rich
). Also, can you borrow more on a boat loan for things like new sails, dodger (yes, even on a j/30 if it is easy to remove), fuller, etc?
Sorry for the long message, but thanks in advance for your help.