Buying First Boat Advice Needed On Offer Process - Page 2 - SailNet Community
 3Likes
Reply
 
LinkBack Thread Tools
post #11 of 61 Old 09-14-2011
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,703
Thanks: 110
Thanked 207 Times in 190 Posts
Rep Power: 10
 
Dock
Quote:
Originally Posted by Boasun View Post
But one minor detail, You will have the onus of paying for the survey and haulout. This was close to a thousand dollars for both on the vessel that I've gladly acquired. So how enthralled are you with this boat??
These costs depend on the size of the boat, what marina you use for the haul out and how much the surveyor charges. Our haul out and survey wasn't anywhere near a thousand dollars.

But yes, the prospective buyer pays AND eats the cost if he or she decides not to by the boat. But don't give up the survey even if you bought the boat. You paid for it, it's yours. If the boat owner wants a survey he or she can pay for one. I have heard of owners asking if they can have the survey if the buyer decided against the boat.
Boasun likes this.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #12 of 61 Old 09-14-2011 Thread Starter
Junior Member
 
Join Date: Jul 2011
Posts: 20
Thanks: 1
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Thanks to all who have offered advice. Do I have to get all of this in writing from the broker? That I can back away post inspection, post survey, post sea trial or is this a given? Deposit is 100% refundable at any point prior to actual agreement of sale? As for the offer, I manage and train comodity buyers, so it is not lost on me that it is the mother of all buyers markets and it is end of season. Sellers will be more likely to want to clear the books so as to avoid winter storage. Additionally, it is an estate sale.
Sailski3 is offline  
Quote Quick Reply Share with Facebook
post #13 of 61 Old 09-14-2011
Learning the HARD way...
 
eherlihy's Avatar
 
Join Date: Jan 2007
Location: Boston / Ft Myers Area
Posts: 4,029
Thanks: 158
Thanked 106 Times in 103 Posts
Rep Power: 9
 
If you are dealing with a broker, he or she will have an offer form that you need to complete and sign, and accompany with a 10% check. If it is the standard YBAA form, you can walk away for just about any reason - within reason .

However, I read in your previous post that there is already an offer on this boat. If there is already an offer, why are YOU looking at it? Yes, I know that the offer may be rejected. If so, then there is no offer on the boat. DON'T let the broker use you for leverage.


Ask the broker if the other offer is still being considered. If it is, tell the broker that you need to look at other boats. The broker should only tell you about this boat if, and only if, the other offer is rejected. If ANYONE has the right of first refusal, it puts both buyers at a disadvantage. I would only enter into negotiations if I were the only one making an offer on a boat.

I had an experience with another member of sailnet where the other member was selling a gorgeous boat, that I would have loved to purchase. However, he told me that another person had made an offer, and he granted that person the right of first refusal. I never made any offer for that boat, and have no regrets. I have nothing but respect for the other buyer, and the seller of that boat. I can only hope that they respect my decision not to initiate a bidding war.

Last edited by eherlihy; 09-14-2011 at 05:36 PM.
eherlihy is offline  
Quote Quick Reply Share with Facebook
post #14 of 61 Old 09-14-2011
Senior Member
 
apogee1mars's Avatar
 
Join Date: Aug 2011
Location: Bakersfield CA.
Posts: 100
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
 
Quote:
Originally Posted by DRFerron View Post
These costs depend on the size of the boat, what marina you use for the haul out and how much the surveyor charges. Our haul out and survey wasn't anywhere near a thousand dollars.

But yes, the prospective buyer pays AND eats the cost if he or she decides not to by the boat. But don't give up the survey even if you bought the boat. You paid for it, it's yours. If the boat owner wants a survey he or she can pay for one. I have heard of owners asking if they can have the survey if the buyer decided against the boat.
You can make a pre arrangement with the seller to split the cost of a survey. The advantage for the seller is that a recent survey is good for the prospective buyer if you opt out. It is just part of the dance. It is the same with aircraft.
apogee1mars is offline  
Quote Quick Reply Share with Facebook
post #15 of 61 Old 09-14-2011
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,703
Thanks: 110
Thanked 207 Times in 190 Posts
Rep Power: 10
 
Dock
A good broker will tell you all that upfront and it will be in the agreement you sign.

Although it's good to approach a broker with eyes open, they aren't all bad. We had an extremely good one who was open with us and stopped us from making some potential mistakes.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is offline  
Quote Quick Reply Share with Facebook
post #16 of 61 Old 09-14-2011
Senior Member
 
apogee1mars's Avatar
 
Join Date: Aug 2011
Location: Bakersfield CA.
Posts: 100
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
 
Quote:
Originally Posted by DRFerron View Post
A good broker will tell you all that upfront and it will be in the agreement you sign.

Although it's good to approach a broker with eyes open, they aren't all bad. We had an extremely good one who was open with us and stopped us from making some potential mistakes.
A good surveyor will do the same, and is unbiased towards the sale.
apogee1mars is offline  
Quote Quick Reply Share with Facebook
post #17 of 61 Old 09-14-2011
Senior Member
 
dnf777's Avatar
 
Join Date: Jun 2007
Posts: 320
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
 
can someone comment on how surveyor's fees are structured? Is is a flat rate based on boat size, or a percentage of surveyed value? Or something else.

I'm also considering an upgrade to a boat in the 9k range, and in this economy plan on offering around 5k. Boat is a mid-80s Cal24, so prone to age issues. I don't want to pay more for a survey than the boat, but don't want to blow 5k on an irreparable problem, either. I don't mean to hijak, but thought these tied in to the OP's question.
thanks
dnf777 is offline  
Quote Quick Reply Share with Facebook
post #18 of 61 Old 09-14-2011
Senior Member
 
apogee1mars's Avatar
 
Join Date: Aug 2011
Location: Bakersfield CA.
Posts: 100
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 4
 
can someone comment on how surveyor's fees are structured? Is is a flat rate based on boat size, or a percentage of surveyed value? Or something else.

I'm also considering an upgrade to a boat in the 9k range, and in this economy plan on offering around 5k. Boat is a mid-80s Cal24, so prone to age issues. I don't want to pay more for a survey than the boat, but don't want to blow 5k on an irreparable problem, either. I don't mean to hijak, but thought these tied in to the OP's question.
thanks[/QUOTE]

Depends on the arrangement you make with the surveyor.
apogee1mars is offline  
Quote Quick Reply Share with Facebook
post #19 of 61 Old 09-14-2011
Senior Member
 
tommays's Avatar
 
Join Date: Sep 2008
Posts: 4,296
Thanks: 1
Thanked 30 Times in 30 Posts
Rep Power: 7
 
If you don't have and idea how the boat sails the sea trial is not the correct way to find out

The further you get into the deal the more difficult it is to back out without losing money UNLESS there is a true deficiency in the boat that shows up in the survey OR the sea trial which is at least around here the final part of the deal

For example on Long island i payed 300 just for and insurance survey in my driveway BUT you cant get real marine insurance without a survey from someone accredited with SAMS or its equivalent as a big part of the deal is them putting a value on the boat that can be justified

You surely don't want to be paying for several surveys as a way of weeding out boats

1970 Cal 29 Sea Fever

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

1981 J24 Tangent 2930
Tommays
Northport NY


If a dirty bottom slows you down what do you think it does to your boat
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Last edited by tommays; 09-14-2011 at 06:12 PM.
tommays is offline  
Quote Quick Reply Share with Facebook
post #20 of 61 Old 09-14-2011
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 11,106
Thanks: 46
Thanked 229 Times in 214 Posts
Rep Power: 7
   
Quote:
Originally Posted by dnf777 View Post
can someone comment on how surveyor's fees are structured? Is is a flat rate based on boat size, or a percentage of surveyed value? Or something else.
I've only paid for a survey based on a quote, which in turn is based on LOA. I did pay by the hour once, but it was capped at that quote based on LOA. I stopped the survey about mid way, rejected the boat and saved money.

On another point made, that seller did ask for the partial survey. I did not provide it. They could have bought it from me, however. The boat was not as represented in many way, which is why I rejected it.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Minnewaska is offline  
Quote Quick Reply Share with Facebook
Reply

Tags
boat buying process , first boat purchase help

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Boat buying advice needed phughes200 Boat Review and Purchase Forum 9 05-21-2010 03:21 PM
Education On the Buying Process Please blackjenner Boat Review and Purchase Forum 9 02-23-2010 11:30 AM
Boat Buying Process MGFraser Boat Review and Purchase Forum 6 11-06-2005 12:37 PM
Questions about boat buying process... slimqs Boat Review and Purchase Forum 7 03-27-2004 12:07 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome