See full version: Beyond the Glitz and Glitter
After the survey, avoid letting a broker rush your decision. They all say that if you don't sign today, they got someone who will tomorrow. Its the oldest con in the book. Surveyors need time to consider their findings, and the survey is not really finished until he has written his report. Most surveyors get their reports done in a day or two, so give him adequate time to finish his job. here
If the seller warrants that he will repair any defects, make sure that you get that in writing, preferably with a maximum dollar amount attached. It is not wise to allow the seller to repair deficiencies himself. The reason should be obvious, but many buyers overlook the possibility that the repairs that the seller makes may not be satisfactory. Indeed, they often aren't. The best procedure is to negotiate a dollar reduction to the sales price and make the repairs yourself, even if there is an element of uncertainty as to cost. Of course you should get cost estimates on deficiencies, and better still a contract price. [links]
Marine surveyors universally recommend new boat surveys, not just because they want the business, but because new boat surveys often turn up as many defects as used boat surveys. Not only can the surveyor tell you a lot about the quality of the boat you're buying, but he can help you get those problems fixed before you take delivery and head off warranty problems before they become problems. See also More on Cores. here
Once you've decided on several possibilities, take a tour of a marina or boat yard and see how the products of those builders hold up over the years. Talk to their owners and see what they have to say.
If you can't get away from the seller making repairs, at least stipulate in the contract that the repair firm must be mutually agreeable to both buyer and seller. What you're looking to avoid is the shade-tree mechanic who doesn't do the job right. [links]
We once heard that trawler owners are some of the most experienced boaters in the world. While we have no hard evidence to confirm this, we can attest to the fact that most owners we've spoken with over the past 10 years have achieved an impressive résumé of cruising experience. Like us, their experience had progressed over time and has included some degree of trial and error.
UNDERESTIMATING THE COST OF OWNERSHIP more
NOT LISTENING TO THE FIRST MATE [links]
Purchase agreements do not include any type of warranty by the seller or brokers and used trawlers are sold “As-is, where is” – it’s a take it or leave it arrangement, but some sellers will work with buyers to help with minor repairs if that’s what it takes to get the deal done.
The Trial Run is often a short trip from the marina to the ship yard and needs to be long enough for the marine surveyor to test the steering and run the necessary on board equipment. [links]
The rules for marketing a boat vary from state to state, in California, for example, a broker cannot advertise or promote a boat for sale without a signed listing agreement. In other states this “rule” does not apply and you will see brokers “listing” trawlers for sale by “picking them up” from the MLS (multiple listing services) and soliciting inquiries. It is important for you as a buyer to identify who the broker or brokers are who have direct access to the seller in order to keep the process more streamlined and reduce the numbers of players (hands out) in the transaction.
For sale by owner, or FSBO, is exactly as it sounds. Nobody knows their trawler better than the owner and so many owners try to sell on their own. The major drawback is getting the word out – promotion through multiple listing websites like Yachtworld.com and Yatco.com do not permit FSBO listings so private sellers have a tougher time getting broad exposure. here
As the buyer you pay all of the costs associated with your evaluation. [links]
An Open listing is similar to an Exclusive, except that the seller can select more than one broker to market their trawler. This can create confusion in the market place, especially if the same trawler is listed at different prices. more
There are so many parts and pieces to a boat, it’s often impossible to make sure you check them all out before you buy. That’s why a sea trial is so important. You never know what you’ll learn about a boat while running it—maybe the steering is a lot looser than you’d like, the throttles are sticky, who knows what else? So the number-one rule about buying a used boat is: never sign on the dotted line until you’ve gone for a ride.
In this rather extreme example, the fittings have corroded away and the rubrail has come loose, exposing the hull to deck joint completely. Don't expect this one to keep the water out. here
Naturally, these top the list. Buy a boat with a bad engine, and you’re in for a serious disaster. So pull the dip-stick and check the oil to make sure it’s in good condition and isn't milky (which indicates water in the oil). Check the plugs to make sure they aren't encased in carbon. Listen to how smooth it sounds while running. Show up 15 minutes early for the sea trial, so the seller doesn't warm it up ahead of time. But most importantly, if you don’t know very much about engines bring along a friend who does, or better yet, get your mechanic to go along for the ride. more
The owner of this used boat unsuccessfully attempted to seal these deck cracks with resin; water leaked through and saturated the foam in the hull. The give-away was the fact that even when unloaded, the boat's scuppers sat at the waterline instead of above it.
Often, you can ID cabin leaks easily by seeing watermarks. But not always, especially if the seller has done a thorough job cleaning the boat. To see if any hatches, ports, or seams leak, take a hose and spray it full-blast at these potential leak spots. Then go down below, and check for any unexpected moisture.
What we’re most worried about here, of course, is bilge pumps. You may be able to flip a switch and make sure it runs, but that doesn't mean the float switch works. Access the bilge and trigger it manually, to be sure. Obviously, you should also run washdowns, heads, and anything else that’s powered by a pump. more