Starting the process

[Hansdg53]

I am interested in buying a particular boat and of course the broker has the policy that I first have to make an offer before I can take it out for a test. I would not make an offer unless the boat has been surveyed and I have a report in my hands. So is that really the sequence, having the boat properly surveyed, get an appraisal and then make an offer, followed by a test sail? Also, how is an offer handled? Do we put money down, and what happens to the down payment if, after the test, I decide I don''t want to buy. Could anyone advice me, where I could get information on the best process to follow?

Many thanks in advance!

[Bluesmoods]

Sure:

First, find the boat that you are most interested in. Make an offer. The dealer will give you a one or two page "contract". a check for 10% of the purchase price most accompany the offer. You may create addendums that will be part of the contract offer such as : Pending Survey, Sea trial and financing with rates between 6.7 and 7.9 percent.

If the survey is not to your satisfaction, then either pass on the boat and get your deposit back fron the dealer, or adjust your final offer down accordingly. You can also insist that the current owner fix the items that created the discrepency on the survey. The owner may not comply in which case you get your 10% back.
The same goes for sea trial. If the boat does not sail/motor or otherwise handle to your satisfaction, you can also get your money back. It is YOUR OFFER you control the deal not the broker or the owner.

Remember you must pay all expenses related to the survey incuding haul out. So, make sure you have found "your boat" prior to starting the whole process. You keep doing this and you won''t have any money left to purchase and maintain your new boat!

Best regards,

Andy

[Hansdg53]

Andy

Many thanks for your advice. Yes, you don''t want to repeat this process too often or otherwise you end up with no money left to buy anything!

Cheers

Hans

[wannasail]

Was in your position sevral months ago.
Looked at new, went with used. Much more for the dollar.
Broker made the same pitch. Need to make an offer prior to survey & sea trial.
Went to this site and got good advice and copies of several contracts, standard and customized. Really helpful. Also requested copy of contract the broker used.
With this info. in hand I proceeded.
As buyer you can back out if things don''t go your way. Meaning inspection, survey, sea trial, unable to access loan.
Don''t let broker or current owner try to bully or make unheard of demands.
Good Luck

Dream Catcher
Rock Hall, MD

[scnicklefritz]

With so many boats for sale out there, why go through a broker???

The price is going to be inflated to cover the broker''s commission.

[Hansdg53]

Good question. I guess it comes down to convenience, plus, if you have a broker with some reputation to maintain, it gives some peace of mind.

I did make an offer on a 93'' Tayana 37, albeit with some trepedation, since the Tayana seems to have some metallurgic problems. A counteroffer came back (10% less) but I have repeated my original offer, since that is what I feel comfortable paying for the boat.

Thanks for all the advice