My offer has been accepted!!

charlg

charlg

New Member
Jan 7, 2007
745
Newton, MA
Boat Info
2000 280 Sun Sport
/ Raymarine C80 w/ Radar / Sirius weather
/ SH GX5000S VHF
Engines
Twin 350 Mags / B1's
/ Corsa exhaust
As I've written in a few posts, I made a low offer on a 2000 280 SunSport. Well, after 3 months, it has been accepted. I got the call today, and told him that I would get back to him tomorrow to confirm.

What do I do next? I do want to get a survey done, but what do you do if there are issues? The boat is being sold through a broker, will he be making up a contract? If so, what should I look for?

Thank you.
 
Charlie, a lot of boating could have taken place in 3 months, is it still worth the offer you made earlier in the year? Was is sitting in the lot or being used on the lake?
 
Dancin Dave said:
Charlie, a lot of boating could have taken place in 3 months, is it still worth the offer you made earlier in the year? Was is sitting in the lot or being used on the lake?
Click to expand...

It was sitting with the shrink wrap on it all summer, still winterized. The broker recently (within the last 3 weeks) took the wrap off so I could be shown. I had made a really low offer at the beginning of the season, to which they countered. But, I visited the broker this past weekend and told him that I was sure the boat is worth more than my offer, but if accepted, I could afford to own 2 boats while I sell mine and take delivery next week.
 
very nice!!!! Congrats! get some pics......Where is the boat, in MA?
 
Congratulation on the deal. Now reread all of Frank W. post on purchasing a boat :)
 
chuck1 said:
Congratulation on the deal. Now reread all of Frank W. post on purchasing a boat :)
Click to expand...

That's the info I need. I'll start the searches.
 
No. . .I got the joke. I thought it was funny.

In all seriousness, this is NOT the point to lower your price.You presented a price, it was accepted.

Now you sign a contract and flash some cash. Expect to put down about 10%.

In terms of what to expect:

The contract should have clauses that allow you to walk -and get your money back- if you are unhappy after seatrial and survey. Make sure the terms allow you to be flexible and somewhat arbitrary. i.e. if you don't like the sound of the trim tabs, you can walk.

Hire a hull surveyor. This should be someone you pick, paid by you. You may (depending on the money involved) hire a seperate mechanic to do an engine survey. Hull surveyors and engine surveyors are not necessarily the same people. Make sure the contract allows you to do the surveys you want.

You may not need both surveyors. I went without the engine survey; but the hull surveyor still shot IR temps on the engines and determined that the risers "looked good, but are old enough to require replacement". A mechanic probably would have removed the risers and made the same determination.. . but would also have told me if the risers had leaked into the engine (a bad thing).

The hull surveyor will inspect the entire boat, and test every switch on the boat. This is a great time for you to tag along and ask questions. This guy works for you. . .if you don't like his approach. . hire someone else.

Ensure that you can seatrial the boat. This is a joyride with the surveyors aboard. Owner or broker will probably drive. Allow the surveyors to do their work (like check engine temps, look for rattles). Boat should run for at least five minutes at W.O.T. But also make sure you like how the boat handles, comes on plane, maneuvers. Should take an hour or two for the whole thing.

Part of the survey will be both in water and out of water inspections. I would expect the SELLER to pay for launch, haulout, and fuel, as well as dewinterizing the boat. YOU will pay for the surveyors. (these points are negotiable, but need to be spelled out in the contract).

Winterizing after survey, if you buy the boat, is naturally your bill. It will be YOUR boat at that point. If you don't buy. . . .ummm. . .make sure the contract is clear on who pays for winterizing. I would expect the SELLER to pay, but don't balk if they make you pay.

The Surveys WILL have findings. There WILL be issues. You are paying someone to find them. . and they want you to think they did their job. I would not expect the seller to pay for anything cosmetic. I would expect the seller to pay for anything mechanical to make the boat run well. If there is really big stuff. . the owner may balk at paying. Negotiations will then ensue.

When I bought, there was a problem with the shifters and the neutral start lockout. There was a problem with the trim tab indicators. These were fixed by the seller without any discussion. The risers/elbows were identified as "not leaking and servicable, but due for replacement". That job was estimated at roughly 10% of purchase price. We agreed to split the cost. I paid for new zincs and bottom painting. A few lights were out on the dash. Cabin speakers didn't work. I fixed those items.
 
Who writes the contract? Is there a standard form?
 
If you are dealing with a broker . . .expect them to have a "standard" contract. 95%+ probability the contract is fine. Read it carefully. Understand who pays what. . . and under what terms you can weasel out of the contract (if necessary).

Considering that you haven't driven the boat. . .you want some latitude. If you don't like some particular term or condition. . . change it. Cross it out, rewrite, and initial. Keep in mind that you are still negotiating, right up until the point you sign the contract and cough up the deposit. Once that act is done: Negotiations are pretty much over. Note that the broker/owner may not accept any revised terms and conditions - -> hopefully, there won't be anything really outrageous in there that needs correcting, but you need to make sure.

I read the contract (it was short) presented by the broker selling the boat I bought; It took 10-15 minutes. It had the right weasel words for my purposes, and I made no changes.

You can provide your own contract. . . that is fine as well, but I would not expect a broker to use it in place of his own.
 
charlg said:
Who writes the contract? Is there a standard form?
Click to expand...

Either party can write it, but both have to agree to it. Do you have anything in writing yet? Do a quick google search for boat sales contracts. I'm sure Frank W. has a couple different versions. One when he is the buyer, One when he is the seller.:thumbsup:

I made a low offer on a 2000 280 SunSport. Well, after 3 months, it has been accepted.
Click to expand...

How was the offer made?
 
oh. . . .and remember. . .this is a used boat. Don't sweat the small stuff. Anything fixed by a dealer will be expensive. Don't be surprised if you spend one or two boat units getting the boat out the door. . .




One boat unit = $1000.
 
chuck1 said:
Either party can write it, but both have to agree to it. Do you have anything in writing yet? Do a quick google search for boat sales contracts. I'm sure Frank W. has a couple different versions. One when he is the buyer, One when he is the seller.:thumbsup:



How was the offer made?
Click to expand...

The offer and counter were made verbally. I am bringing the 10% deposit on Friday.

Should I push for winterization and storage for the winter from the broker (they are also a boat yard)? The season is basically over.
 
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