Join Date: Feb 2003
Location: New England USA
Thanked 2 Times in 2 Posts
Rep Power: 15
Ok, So you have found "Your" boat. Great, now is the time to let your cooler head prevail.
Take a step back and list all the issues you have and review them with your broker. If he is unsure of the yard''s guidlines, find out who DOES know. Usually a walk up to the yard office, introduce yourself as a potential purchaser of said vessel, and ask to speak with the yard manager or someone who can cover your concerns.
You should make sure that your contract reads exactly how you want it to. You sould cover all the items you expect to recieve during the transaction, and any deficiencies you are aware of that will not constitute a deal breaker. Things like you know the stereo does not work or that the Shore Power connector needs to be replaced.
Then as long as the surveyor does not reveal any earth shattering information, you can proceed. You may want to set aside an amount in escrow for agreed upon repairs etc. Anything that will result in a significant repair, say over $1,000, (and it needs to be in writing) and you should be able to either renegotiate the deal, negotiate a reduction in selling price, or the set-up of the repair escrow, or the cancellation and return of your deposit.
In general, the sea trial and survey will be at your expense. So if splashing the boat and then hauling her again needs to be done, be prepared to pony up for that. Same deal for the $500 (or more) for a competent survey of the vessel.
Good luck, and remember that YOU are in control, not the sellers and the brokers. You are the one paying here, so you need to make sure you are protected and that all the parties realize who the customer is. And remember, THE CUSTOMER ALWAYS COMES FIRST!!!!