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    Boat Purchase Offer Form?-gctid401382

    My daughter and husband are looking at getting into boating. They've been looking at 24-26' cruisers in the 2000-2004 year range. What we're finding is that dealers generally don't give sea trials until there's an accepted purchase offer. I can understand this somewhat in that they can't be taking everybody who's looking for a boat ride out on the water.

    They're quite interested in a boat that happens to be a brokered boat by our marina. The salesman said if you make an offer, be sure and include all the things you want fixed/corrected in your offer. Certainly several things aren't discoverable until the sea trial. So our concern is how do you write up a purchase offer that will let you out of the deal if something is not right (or owner refuses to fix) that is comprehensive and yet not so frivolous as to be rejected by owner , such as "wife doesn't like color now".

    Is there a boiler plate boat purchase offer agreement out there?

    Paul
    2008 Rinker 330 EC
    Twin 350 MAG Bravo 3
    2007 285 (sold)
    350 Horizon Bravo 3

    #2
    You're probably going to get many different opinions and suggestions. When I bought my first boat, a 1996 Bayliner 2355 which was only two years old at the time, I gave the seller an offer on condition of satisfactory sea trial. I told him my definition of "satisfactory" would be that repairs, if any, should not total more than xx dollar. I forgot the number, but I think it was $500. He agreed to that. Depending on age, size of boat and budget, that $500 number could be a lot less or a lot more. Whatever you do, make sure to put it in writing.

    Comment


      #3
      When we bought our boat, we had to give a deposit to prove that we were serious buyers. We stipulated in the contract that finalizing the sale was contingent upon a survey and sea trial that met our satisfaction.

      There was absolutely nothing in it that bound us to the purchase. It was also stipulated that the deposit was to be refunded should we choose not to buy the boat for any reason.

      Remember, you are the one in the drivers seat. You don't have to agree to any contract that you don't like. You are the one who sets the terms of the purchase. The seller has the right to ask you for a good faith deposit so that he knows your not just out for a joy ride. The seller also has the right to receive full payment before transferring the boat to you. The seller can insist on things like surveys and sea trials be done in a timely fashion so that the boat is not off the market for an extended amount of time if you decide not to buy it.

      You are also the one who will have to pay for the survey. A good survey will require that the boat be hauled so that an inspection of the hull can be made. You will probably have to pay for that as well. After receiving the report from the surveyor you can then re-open negotiations over price and/or what repairs you want the seller to make. You can also just say that the boat doesn't meet your satisfaction and walk away. The seller has the right to refuse you request and terminate the sale as well.

      A contract can be anything that you and the seller agree to.

      As Kare L said just make sure it's all in writing.

      Comment


        #4
        There shouldn't be an offer until after a sea trial and a survey. They can do it your way or keep it at the dock, plenty of boats out there.

        Comment


          #5
          Normally, with brokers involved, it goes like this:

          You personally view and inspect boat.

          You like it? Make offer.

          Broker reviews offer with seller. Seller counters. you counter. Sales price is agreed on. You give a deposit to the broker (5 - 10% of price).

          Sales contract drawn up including the following clause: Your offer is contingent upon acceptable (to you) complete in and out of the water marine survey, mechanical inspection and sea trial. Anything negative that shows up, you have the option to walk away from the deal with no loss, renegotiate with seller over repairs or deduct cost of repairs from the final price.

          Tried and true process that works for both parties and has withstood the test of time and legal challenge.

          Comment


            #6
            Telebob is spot on.....The price and buyer expectations need to be agreed before any sea trial. I recommend to customers that the following be added to the offer: "All systems to work properly". That is a bit more specific and gives the option to the seller to deal with any issues uncovered during the sea trial.

            Tom

            Comment


              #7
              telebob wrote:
              Normally, with brokers involved, it goes like this:

              You personally view and inspect boat.

              You like it? Make offer.

              Broker reviews offer with seller. Seller counters. you counter. Sales price is agreed on. You give a deposit to the broker (5 - 10% of price).

              Sales contract drawn up including the following clause: Your offer is contingent upon acceptable (to you) complete in and out of the water marine survey, mechanical inspection and sea trial. Anything negative that shows up, you have the option to walk away from the deal with no loss, renegotiate with seller over repairs or deduct cost of repairs from the final price.

              Tried and true process that works for both parties and has withstood the test of time and legal challenge.
              This is how I buy my boats too !

              Comment


                #8
                dramaminedragon wrote:
                There shouldn't be an offer until after a sea trial and a survey. They can do it your way or keep it at the dock, plenty of boats out there.
                I would LOVE to sell to you.

                You start by putting out about $500 for a survey, then come and make me an offer. I am now bargaining from a pretty strong position since you're already down $500 and far less likely to walk away.

                If you try it that way, you're likely to pour out money on multiple surveys with no idea that any of the buyers will accept your offers. Either that, or you're paying so much for the boat that the buyer is thrilled with your offer.

                Here's a http://"http://www.baylinerownersclu...e: <br /> link to a boat I'm selling now. Come by any time and buy me a survey.

                Comment


                  #9
                  whiskywizard wrote:
                  I would LOVE to sell to you.

                  You start by putting out about $500 for a survey, then come and make me an offer. I am now bargaining from a pretty strong position since you're already down $500 and far less likely to walk away.

                  If you try it that way, you're likely to pour out money on multiple surveys with no idea that any of the buyers will accept your offers. Either that, or you're paying so much for the boat that the buyer is thrilled with your offer.

                  Here's a http://"http://www.baylinerownersclu...e: <br /> link to a boat I'm selling now. Come by any time and buy me a survey.
                  Off topic but..Mike ..you going larger?

                  Yea...first look.......then offer.....get a price settled......on condition of survey and sea trial meeting your criteria.

                  Comment


                    #10
                    lolar3288 wrote:
                    Off topic but..Mike ..you going larger?.
                    Depends on who you ask, Larry.

                    I say we need to go bigger. Admiral says no. Then she lists off all the things she wants on the next boat. It won't be very long before she sees the light and I'll be trying to hold HER back. We do have to be careful though. We're at 47.5' now, and just over 50 with the dinghy on the Sea Weed lift. We have to be thoughtful when we plan our visits to other places. Much bigger and we'll lose access to some places we really like.

                    Sorry for the detour Paul [/HIJACK]

                    Comment


                      #11
                      There is an established normal process that everyone in the industry should know and follow. You can get purchase forms from the Boat US web site, and also find a surveyor there. As a first-time cruiser buyer, you really must get a survey, which is like a home inspection.

                      1. View boat.

                      2. Make offer pending sea trial and survey.

                      3. Offer is accepted or countered.

                      4. When you have an agreed price, schedule a sea trial and a survey to follow.

                      5. If sea trial passes, continue with survey, if not, cancel survey.

                      6. If survey passes, deal is complete. If problems are found, re-negotiate the repairs or price reduction.

                      Comment


                        #12
                        We just went thru all of this trying to buy a boat nonsense. In my opinion some boat brokers and salesmen are the biggest drawback to buying a boat. They take all the fun out of it. You do it their way or it doesn't go anywhere. Period. I wonder if the boat owners realize just how hard some brokers and salesmen are to work with. We started looking for a boat to buy after the Seattle Boat Show and just last week bought and took delivery of a 3258. Along the way we made offers on 3 other boats, looked at half dozen more, had calls not returned, had appointments stood up, get this. We looked at and made a deal on one boat only to have the dealer say he would send a sales agreement so I could send him a check every 3 days for a month. On that one someone had suggested I put in my offer that it had a clear title. That one causes a lot of salesmen to pause. I had one broker tell me when I asked what they knew about the boat "Ah He-- I don't know nuthin about this boat, but why don't you make me an offer". Least she was honest. Bottom line is there are some GREAT brokers out there to work with. It's your money. There are lots of boats. Get a good referral from an owner. If we ever get together over a cool one I have some boat buying stories that will have you holding your sides. By the way. Paid less for the boat I bought then what I offered on the others. Good Luck. Sylvan

                        Comment


                          #13
                          I don't think sea trials are common on trailer boats. It's just too time consuming and expensive. I've bought several new and used trailer boats and have yet to sea trial one.

                          I just sold a boat a few weeks ago and did take one person out on the lake for a sea trial, only because he was a friend of a friend, and I only live a mile from the lake. I still wasted a couple hours of my time and probably $20 in fuel, and a few days later he told me he changed his mind because he thought it better that he pay off his truck first.

                          I've had other people call me and ask me for test rides and I told them give me $100 and I will take them out and apply it to the purchase price if they buy it. No takers on that so that just tells me they were not that interested in buying, and I wasnt interested in taking people for free boat rides.

                          Boats do not have suspension, alignment, frames, etc. If the engine runs and it shifts in and out of gears, you should be good to go.

                          If you are not mechanically inclined and don't have knowledge about boats, make an offer contingent on a survey.

                          Comment


                            #14
                            Beyond offering $20 bucks for fuel, i wouldn't pay anything for a test ride. I bought my boat from a broker and did not have to pay a dime for anything before i decided the boat and price were right for me. He hauled it to ramp, drove it out and back and then loaded it back up. I wanted it more then ever after that.

                            Comment


                              #15
                              Props R Me wrote:
                              wanted it more then ever after that.
                              Yup, it's very hard to keep the emotions in check. What is it with boats, cars, trucks, bikes etc that hooks us like that? Worst thing we can do is fall in love with the boat before the deal is done. And a savvy seller can tell when you're getting too attached. It makes it much harder for you to strike the best deal you can.

                              This doesn't apply to trailer boats so much, but when you find a really good broker, you find that he/she is really useful. They separate you from the other party, reducing the emotional problem, and for sellers, they pre-screen potential buyers. With a capable broker, you perform seatrials for high-potential buyers, not just taking tire-kickers (fender-kickers?) for free boat rides.

                              And for buyers, they pre-screen boats so you don't have to go see the crappy stuff. They know all the other brokers too, and know who the idiots are.

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