Jus Cruisin
Well-Known Member
Good point.
Survey - what are the rules ?
- Thread starter Blueone
- Start date
Yacht purchase surveys consist of Hull and Engine which are separate surveys.
Both surveys require an out of water inspection and sea trial.
If a buyer settles for less then not only will they have difficulty on financing but also insurance plus all of the misses. I think I had around $4k in surveys on my 52.
Wow… I hope that was worth it ?
Jus Cruisin
Well-Known Member
I'm just nervous that my survey and sea trial will be done the moment the boat hits the water. Everything I was using was working last fall but I wish I could have a chance to go through the systems beforehand.
Just be there yourself during launch and make sure everything works. I wasn’t and broker started to try fix things that weren’t broke… thinking he was helping
Jus Cruisin
Well-Known Member
For sure I will be there and I will pilot the boat.
- Aug 20, 2021
- 1,313
- Boat Info
- Started out as MAYBE A DANCER
Became a Dancer - 12/23/21
- Engines
- 450 DA Sundancer running CAT 3126
Here's an even simpler view:
visible or known to buyer before he made the offer and prior to survey - not negotiable
unknown safety issues - negotiable
unknown operational issues - negotiable
Buyer has skin in the game - as in the costs of haul out & survet, travel etc.
Seller has a valuable buyer on the hook, how long before the next one comes along and what of THOSE results?
When I bought my first big boat, the Broker, Sal Scalia (R.I.P.) explained it well:
"The seller likely paid way more for this boat than it's being sold for (depreciation/diminished value) and the boat is full of memories, good times and getting them safely home"
"The buyer wants to get a boat as perfect as possible, and at the best price possible"
"It's an emotional sale for the seller and an emotional purchase for the buyer"
"My job is to take the emotion out of the process, convince the seller of the realities of not loosing the sale, how many legitimate offers have you received, the diminished real current value of the boat, and the results of the survey to the buyer, ANY BUYER"
"For the buyer, again, its take the emotion out of the purchase, reduce the impact of the wear and tear items as related to the age, and to share the realities of the costs for the haul out and survey, which he'd be walking away from"
"In the end, it's a good deal if both parties feel they didn't get what they wanted, but given the realities for both, that the final negotiated number made sense"
I would also add that it's not unusual for a broker to give up a % of his end of the del to show good faith to buyer AND seller and to get the deal done.
Nobody wins if it doesn't get sold
Hope this helps,
BEST !
RWS
visible or known to buyer before he made the offer and prior to survey - not negotiable
unknown safety issues - negotiable
unknown operational issues - negotiable
Buyer has skin in the game - as in the costs of haul out & survet, travel etc.
Seller has a valuable buyer on the hook, how long before the next one comes along and what of THOSE results?
When I bought my first big boat, the Broker, Sal Scalia (R.I.P.) explained it well:
"The seller likely paid way more for this boat than it's being sold for (depreciation/diminished value) and the boat is full of memories, good times and getting them safely home"
"The buyer wants to get a boat as perfect as possible, and at the best price possible"
"It's an emotional sale for the seller and an emotional purchase for the buyer"
"My job is to take the emotion out of the process, convince the seller of the realities of not loosing the sale, how many legitimate offers have you received, the diminished real current value of the boat, and the results of the survey to the buyer, ANY BUYER"
"For the buyer, again, its take the emotion out of the purchase, reduce the impact of the wear and tear items as related to the age, and to share the realities of the costs for the haul out and survey, which he'd be walking away from"
"In the end, it's a good deal if both parties feel they didn't get what they wanted, but given the realities for both, that the final negotiated number made sense"
I would also add that it's not unusual for a broker to give up a % of his end of the del to show good faith to buyer AND seller and to get the deal done.
Nobody wins if it doesn't get sold
Hope this helps,
BEST !
RWS
OOPS I doubled what was already for both surveys. Fixed.
But that brings up a good point - how many boats does a purchaser want to survey. Only one. So if like me I went on the boat three times before committing to an offer, getting a contract in place between myself, the broker, and owner then on to surveys and sea trials. I knew that boat pretty well before the offer. BTW the broker who I also purchased my other boats through ran the boat with me before we inked an offer - that was a plus.
RBB
Well-Known Member
- Dec 18, 2019
- 2,080
- Boat Info
- 2004 480MY
2006 44DB
2019 Sea Doo GTX 155
Pelican Kayak
2004 390 MY Sold
- Engines
- Cummins QSM11 680Hp
Cummins QSC 500
Our 480MY is traveling tomorrow from Sandusky to Cincinnati, where it will be reassembled and launched.
Friday our 44db is getting surveyed and sea trial. The buyer is out of TN.
This buying/sellng process has been trying this time around.
Friday our 44db is getting surveyed and sea trial. The buyer is out of TN.
This buying/sellng process has been trying this time around.
Omg…. I am sitting here right now losing my mind…. Literally. Contracts going back and forth because I keep correcting mistakes….. this shit should not be this phucking hard. I told my wife this is it I am never selling another boat thru a broker so you better be happy with the new one
RBB
Well-Known Member
- Dec 18, 2019
- 2,080
- Boat Info
- 2004 480MY
2006 44DB
2019 Sea Doo GTX 155
Pelican Kayak
2004 390 MY Sold
- Engines
- Cummins QSM11 680Hp
Cummins QSC 500
What boat you have your eye on?
48 Sundancer… sea trial this week. That part of this nightmare is going well…. Guess why?….. no broker
RBB
Well-Known Member
- Dec 18, 2019
- 2,080
- Boat Info
- 2004 480MY
2006 44DB
2019 Sea Doo GTX 155
Pelican Kayak
2004 390 MY Sold
- Engines
- Cummins QSM11 680Hp
Cummins QSC 500
Is it in lake Erie
No need to truck it
Smashpjp
Active Member
Well in ohio if you want to sell new or used cars, you have to be bonded, take a class, get fingerprinted, oh and you cant be a felon...
What happens to all the used car sales men that get a felony? They become boat brokers... Pay your $50 annual and make sure Ohio gets its sales tax and you are good...
I am Not joking...
Steve S
Well-Known Member
- Jun 5, 2007
- 3,140
- Boat Info
- 2000 400 Sedan Bridge with twin CAT 3116's
2000 340 Sundancer - SOLD!
210 Monaco 1987 - SOLD!
- Engines
- Twin Caterpillar 3116's 350 HP straight drives
I would disagree slightly. When I purchased my 400DB, any unknown safety or operational issues needed to be corrected by the seller - non-negotiable or the deal was off. I needed a safe operational vessel to ferry home. Example - the horn did not work and there was an issue with an alternator. He fixed those. The cabin door would not latch closed - I fixed that.
Jus Cruisin
Well-Known Member
So I have no complaints using a broker up to this point. He showed the boat on his day off instead of pawning it off on another sales associate. He felt he knew the boat the best (he does). He worked out the survey/sea trial day that was a sticking point for a bit. I'm nervous about demo'ing the boat right out of winter storage. I don't have water on it. I'm hoping there will be water and hose close by to get enough in to show it's working. Everything that I was using was working last fall. Now? It should but.... I'll have plenty of butterflies Tuesday, I'm sure.
