Advice needed on used boat buying process-gctid817657

[fishbayers]

I am hoping to get some general advice on the order of the process that should be taken if buying a late model (2013-2015) used 19-20' deck boat, outboard power.

So my general understanding would be that one would go see the boat, do a general visual inspection to see if there is interest. Would it be typical to make an offer next, contingent on a sea trial and mechanic inspection? Or would it be more typical to sea trial first or even do the mechanic inspection prior to an offer? It seems like it would be important to determine if you are both in the same ballpark regarding price prior to spending time putting the boat in the water. This would likely be purchased from a private party.

Thanks in advance for the advice.

[Jay_Myers]

One of the things I would do is take a soft towel, Ask the seller if you may wipe it down. Then proceed to wipe the whole boat down. You will be able to visually pick up on all the cosmetic flaws. Maybe there is a small crack in the windshield or a crack in the hull that you didn't see. You can see a lot doing a wipe down. Good luck to you

[Pcpete]

If you were to go to a dealer, the offer contingent on sea trial and whatever surveys you decide you want. I see no reason to do less with your 18-20'er.

[drewhaas]

You're on the right track with a sea trial and then an offer contingent on a survey- both of the boat and mechanical. The findings of the survey can then be used to negotiate a final price or to walk away from the deal entirely. DON'T GET ATTACHED TO A BOAT before the survey. You can spend a ton of money foolishly if you buy with your heart and not your head. Fall in love with her after you've gotten the best deal possible.

[Ahaua]

I recently purchased a 3988 and the process was all new to me; luckily, I had a good buddy help me along the way. In my case, my buddy strongly advised me to hire a good and knowledgeable broker. I was fortunate to have a broker who owns the same boat I was looking to buy. When I found the boat I was interested in, we made an offer contingent on a survey, sea trial and mechanical inspection. Having a good surveyor and mechanic is extremely important. Once the survey, sea trial and mechanical are completed, you can re-negotiate the deal or walk away; money well spent. I had looked at a few boats before I found one that I was interested in pursuing since there is an expense to proceed with the process. I would say that you should thoroughly look over the boat yourself and try to have an experienced friend help you out. Proceed only with a boat that looks good to you and with an asking price that is reasonable. My broker was able to look at recent sales so that I had a good idea about market value. All in all, it worked out great for me; I got the right boat at the right price. Good luck!!!

Alex

[Guest]

Ha, rounds these parts 2013 might as well be a new model!

[aluxury1]

The way it works is you educate yourself on what you want to pay for the boat. Offer lower than market value and be willing to walk away. If you make the deal, (finalized price) contingent upon a passing a positive survey" that you approve of" .You will pay for the survey at an independent shop or surveyor. By all means do a sea trial with someone (the salesman) that knows the boat. Ask questions. If you follow all that, its hard to make an awefull mistake. If the dealer or private party won't go down those roads with you, walk away! If you need more coaching, let me know.

[Solandri]

A lot of the process depends on how much money you're talking about changing hands. Cheap old used boat, the seller may demand as-is and not even agree to a sea trial and survey (money he'll receive is not worth his time coordinating for all that). As the amount of money goes up, you'll want to add (roughly in order of low to high sale price) a sea trial, survey, escrow, and engine survey.

[ul]

[li]Sea trial is most important because you want to make sure the boat actually floats and runs.

[li]The survey in particular is important if the boat is expensive enough to have a moderate sized insurance policy. The insurance company is going to want a survey anyway, so you might as well do it during the purchase process so you know exactly what you're buying, and have the option to back out if you're unhappy with the survey (make sure in writing that any offer is contingent on a clean survey - for various definitions of "clean").

[li]At some point in the process you're going to have to give the seller a refundable deposit, then a cashier's check for the actual purchase of the boat. At that point he could theoretically run away and claim he's never met you, so if there's a large amount of money involved you may want to use an escrow service.

[li]The surveyor can also do an engine survey if you pay extra, but my understanding is that it's generally not done unless the engines are particularly valuable or there's some reason to suspect the engines have a problem.

[/ul]

A broker/dealer falls somewhere in this range too, depending on how familiar you are with boats and the purchasing process. If you're completely green, the threshold cost at which point you will want a broker is lower. I drafted the paperwork for the offer and bills of sale myself (listed the engine, boat, trailer, and unattached equipment like life vests, ropes, boat hooks, etc separately for tax purposes - my state assess property tax on boats (minus engine) every year, so I wanted to be sure the engine, trailer, and misc equipment values weren't included in the price of the boat hull). I also got a signed waiver from the seller that all sales taxes at his end were taken care of (he was in a different state), and handled all the registration in my home state myself. It's not exactly hard, but there is a lot of paperwork involved, and a broker/dealer can help you or handle all of it for you. They can also act as (or refer you to) an escrow service.

The Boat US website has some nice guides and sample documents you can use if you want to do it yourself. NADAguide is a decent resource for estimating a boat's value (it's strictly functional value though, doesn't seem to really factor in market demand for "hot" boats or brands). But you should also search various boat sale sites (boattrader.com, boats.com, yachtworld.com, etc) for others selling the model boat you're interested in to get a feel for asking prices. Getting a survey will also get you an estimated market value of the boat using recent past sales resources which are normally only available to brokers and dealers. Brokers and ealers will also have stats on the ratio of asking vs final sale price.

And you want to visit any user forums for that boat's manufacturer (like this one) to see if there are any common problems with the model you're looking at.

[6104696]

Apparently:

1) Research potential boat on internet

2) Find a model that you don't like

3) Join owner's forum

4) Jump on every thread about said boat, telling owners how to deal with problems you know nothing about and bashing the boat at every opportunity.

Just kidding, of course. Peace on earth and good will to all.......

[fishbayers]

Thank you to those that have provided advice, very useful.

6104696, it is not acceptable to harass someone, even if you say "just kidding" afterwords, especially since you have a history of harassing me. The truth is I joined this forum to learn about boating to determine if I wanted to buy a boat. I originally wanted to buy an Element, which is why I joined the forum and researched the Element, particularly the water retention issue. I would not have learned about this issue if it were not for this forum and for that I feel fortunate. I chose to share what I learned about the issue with the forum to try to benefit others and for some unknown reason that bothered you. Sharing ideas is what this forum is about. I would like to request that you raise yourself to the level of the many others on this forum that have made this the best boating forum available.

[6104696]

"fishbayers" post=817765 wrote:
Thank you to those that have provided advice, very useful.

6104696, it is not acceptable to harass someone, even if you say "just kidding" afterwords, especially since you have a history of harassing me. The truth is I joined this forum to learn about boating to determine if I wanted to buy a boat. I originally wanted to buy an Element, which is why I joined the forum and researched the Element, particularly the water retention issue. I would not have learned about this issue if it were not for this forum and for that I feel fortunate. I chose to share what I learned about the issue with the forum to try to benefit others and for some unknown reason that bothered you. Sharing ideas is what this forum is about. I would like to request that you raise yourself to the level of the many others on this forum that have made this the best boating forum available.

Now you are calling me a harasser? So I will call you a liar. Nannynannyfoofoo to you, sir.

[Ruffryder]

Boys can we all just get along...

[aluxury1]

Try another forum for the comedy, I'm either looking for help or sharing my experiences with others. Keep it heading North!!