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Old 06-14-2011
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Found our dreamboat, now the rest of the story

After six months (I know, not a long time) of looking at boats, surfing the web, reading the paper, talking to friends about leads, and hoping that we checked every boat that was remotely like what we wanted anywhere near (and sometimes not so near)at hand, we finally found the boat we wanted.
This is not our first boat, but it is the first boat we've searched for and found and negotiated for.
Now to begin the process that results in our boat sitting in a slip near us.
First of course, we had to "make an offer". We were tempted several times to make really low ball offers on boats, just to see how low we could go, but decided that there were two outcomes we didn't want: 1) they take our offer and we've got a boat we really didn't want! or 2) the seller's time is wasted and we still don't find out how low the boat would sell for (for us this seemed pretty unethical, but I'm not going to judge others if they take the risk)
We did end up wasting some sellers/brokers time, I guess any time spent showing a boat to someone who doesn't buy it is a waste, but necessary for a seller I guess, when we looked more than once at several boats.
One boat we'd liked on paper, but hadn't seen, was bought the week before we went to look at it, to a buyer who offered sight unseen. That seemed kinda risky to us, due to our misconception that the only two reasons to back out of a deal thats accepted by the seller would be if the survey showed something wrong that hadn't been mentioned by the seller, or if the sea trials showed some serious flaw in the boat. We were surprised to learn that "personal inspection" of the boat can be grounds for rejection of the boat if you haven't seen it previously, though at that point you've spent some money just getting to the boat to inspect it.
The negotiation for final price involved us making a low ball offer, the owner countering, us re-countering, the owner re-re-countering, us making a FINAL OFFER and the owner accepting. We wanted the boat as inexpensively as we could get it, and the buyer wanting as much as he could get for the boat. We met somewhere in between, with us hoping he'd accept the low-ball and the owner hoping to get the asking. So neither one of us was completely happy (I'm only assuming the buyers emotions. He may have thrown a party after the acceptance, laughing at our neophyte attempts at "wheelin' and dealin'.") though we got the boat for about 25% less than asking.
Now the fun part. And please forgive me for sounding like a tightass but at this point money began to be spent (Well, technically it began when we started looking at boats!) that wasn't totally anticipated.
The boat is 350 miles (as the boat sails) away, 9 hrs. drive time, 1 hr. and $350 flight distance.
So I scanned and faxed the Offer Statement, ($5 at OD), and wire transferred the earnest money to the brokers account ($30 wire transfer fees)
To be continued...
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Old 06-14-2011
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Now to begin lining up everyone needed to do the survey and sea trials
Survey If near at hand I'd have looked in the Yellow pages, called a few, maybe talked to friends about who they'd use, and go with one. with the boat being so far away, I went to the above link, called four and talked, then just picked one.
We'll see if it works out. He sent me a survey agreement, I printed, signed. scanned, and e-mailed back a document that basically said the surveyor wouldn't be responsible for anything he missed, but that he wouldn't send me any report or talk to me until he got paid. $564 (plus $15 paypal fee, which was cheaper than a wire transfer)
The surveyor suggested a yard to haul the boat in, near to it's berth, so we google it, look at where it is in relation to the boat berth, and contact and make arrangements for hauling on Friday. Lift for a "few" hours and water blast bottom - $400 I estimated up front when negotiating a cost on the boat that the survey would cost about $1000, not a lot cheaper, and I'll bet there are hidden costs I haven't anticipated yet.
I decide to drive over, with a friend. My wife is mad because she has to work, I'm mad because all the hotels near the boat would be great to spend with my wife but I'm going to be travelling with my friend, a crabby old South Pacific sea captain who fortunately has lots of good stories, but whom I'm hoping won't make obscene noises in his sleep, since, to save money, I'm getting a motel room with two double beds.
Driving over and back estimated $150 in gas, $80 for the motel. Food - somehow I don't think my friend Miles is going to accept burgers.
As an aside, Miles is along to look at the boat because he is the most knowledgeable person I know about boats, and is going to help me bring her back. (this for relatively free)
Hopefully I haven't missed anything so far, if so I'll update before we leave on Thursday.
Thanks for any input you may have!
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Old 06-14-2011
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Thanks for sharing the details of your experience. Having only been through it once myself, and looking forward/dreading next time, it's nice to hear the other stories.
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Old 06-14-2011
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Quote:
Originally Posted by pinayreefer View Post
We wanted the boat as inexpensively as we could get it, and the buyer wanting as much as he could get for the boat. We met somewhere in between, with us hoping he'd accept the low-ball and the owner hoping to get the asking. So neither one of us was completely happy
Welcome to capitalism. Sounds like a perfectly normal, successful transaction. Congratulations!
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Old 06-14-2011
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Take heart, your experience sounds fairly typical so far. Yes, the hassle and cost of the survey are a pain, but worth every penny.

In our case, we found a significant structural problem with the boat and I nearly backed out. The surveyor saved the day and convinced me to continue with the survey after the problem was found. I'm glad that I did - we reduced the purchase price by five digits and I fixed the problem for $250 and 35 hours labor.

You will have more hassles and cost. Count on it. Just take a long view, be patient, take it one step at a time, and put your ego aside. In a short time, you'll be on your new boat and sailing.
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Old 06-14-2011
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Add zincs, replacing rusted keel bolts, and anything else you notice once the boat is on the hard, rudder damage, prop clean rebalance, driveshaft, worn out cutless bearing, epoxy scrapes and gouges in hull from last grounding, etc... Can add another thousand.

Then you will add the start of your need to fix list during the survey, some of my original "need to fix" is still on the list.

Good Luck! Buying a boat is a long painfull and expensive process, but the look of absolute joy, and relief on the seller's face, when he gets a hold of your check makes it all worth it.
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Old 06-14-2011
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Pinay you need a blog. Well written description of the process.

You better get used to shelling it out 'cause you will, as long as you're in the boating busines.
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Old 06-14-2011
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Are you going to let us in on the secret.....What boat did you buy......Red
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Old 06-14-2011
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Quote:
Originally Posted by CapnBilll View Post
Add zincs, replacing rusted keel bolts, and anything else you notice once the boat is on the hard, rudder damage, prop clean rebalance, driveshaft, worn out cutless bearing, epoxy scrapes and gouges in hull from last grounding, etc... Can add another thousand.

Then you will add the start of your need to fix list during the survey, some of my original "need to fix" is still on the list.

Good Luck! Buying a boat is a long painfull and expensive process, but the look of absolute joy, and relief on the seller's face, when he gets a hold of your check makes it all worth it.
Now I know how pirates originated; "Aaaarggghhh", when they get the boatyard bill! And losing an arm and a leg when they pay it!


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Are you going to let us in on the secret.....What boat did you buy......Red
Oops...... our search started here
Looking for Mr. Goodboat
But then:
Now What?
The boat is an Allied Princess 36'
In a "Tale of Two Princesses", we had another boat which needed more work and had nearly made an offer but decided to offer on the better maintained Princess instead. In the meantime, I bought "This Old Boat" in preparation for buying the "fixer-upper" when the deal went through. Something tells me I'll be wearing the covers off the book before it's all over!

Last edited by pinayreefer; 06-14-2011 at 05:04 PM.
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Old 06-14-2011
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Sweet boat, good luck sailing it.....Red
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