As a buyer a few years ago I asked for everything before making offer.

 

I answered every question, showed them every receipt, report, etc, attended the survey, and waited until the check cleared my bank. Only then did I give the new owner all of my documentation for the boat along with the boat itself.

 

I asked for everything possible from the seller before closing... Now with almost 14 years of receipts, I would be afraid of scaring off the buyer with the money I have spent. (my wife would kill me if she ever saw them too)

 

What could be the possible down side to giving the buyer the information. I would only give him copies not originals incase the deal falls out and he doesnt get them back to you. The seller of the 506 gave me every thing he had mainly because i was looking for very specific information as to what was done and when for my future planning, not necessarily
for reasons not to buy the boat. I hope this hypothetical deal goes off with out a hitch!
Carpe Diem

 

I’m in the show your cards now camp. By doing so it may make the hypo buyer less critical during the pending inspections. It was the detailed service records that not only brought me top dollar for my last boat but gave the buyer confidence to close the sale quickly.

 

I've had this happen recently on my boat. I've got every work order, receipt, estimate , every scrap of paper confirming what is in my log. My answer was "you are welcome to review the log and receipts here on the boat, but they are part of the boat and they will go with her to her new owner, so I need to keep them here". He mumbled some but agreed. So I took the David Baldacci book I was reading up to the helm and let him alone with the records. In about an hour he came up and said I'm satisfied that you keep great records and that the history is as you described.......I'm also satisfied that you are one anal SOB! He made an offer at the asking price if I'd give him a day's instruction on the boat's operation and systems and I agreed. Then he said he'd have to call his banker to secure financing and he called back that afternoon and said the boat was a bit above his ability to get financing.

Sure glad I didn't let the records leave the boat........

 

No downside unless the broker has made false claims. I don’t think you would allow that to occur.

If a seller tells me they extensive documentation, I am willing to pay more. But I want visibility, in fact I have written this into acceptance terms with an offer and deposit.

Ask yourself, what is the downside of sharing?

Leverage it as a proof of value.

 

personally I would never let anyone take anything until the check clears, I totally agree with Franks approach. Let them see and answer any question and show the supporting documentation, but it stays with the boat.

 

I like Frank's approach. I would never let them off the boat prior to the check clearing in case the deal fell through. And my wife has never asked to see them.

In most sales that wouldn't be a problem but in this hypothetical sale the boat is in WA and the buyer is in British Columbia. The hypothetical buyer inspected the boat once when it was first listed with the broker and again virtually during the boat show. Or so I've been told.

The dollars have all been decided and agreed to. This hypothetical sale only needs the survey and sea trial before it's complete.

 

I like Frank's approach. I would never let them off the boat prior to the check clearing in case the deal fell through. And my wife has never asked to see them.

In most sales that wouldn't be a problem but in this hypothetical sale the boat is in WA and the buyer is in British Columbia. The hypothetical buyer inspected the boat once when it was first listed with the broker and again virtually during the boat show. Or so I've been told.

The dollars have all been decided and agreed to. This hypothetical sale only needs the survey and sea trial before it's complete.

If you need a licensed Captain that has a Nexus card and has been vaccinated...???

 

I would not give originals, just copies, scanned images.

It only makes it our boat more valuable, not sure I see any downside.

 

My buyer (downsizing from a Hatt sport fish) used a well known mechanic with a top drawer clientele to perform the survey of the engines. Just so happens we both used him for our routine service and he is known to keep a computerized service log for his clients. I also had hard copies of the work orders. So there was complete transparency and a high level of trust in the quality of work done and the record keeping. The boat was in Bristol condition and the maintenance was by the book. Selling price was the highest I have seen from sold boat data for the model and the 8.1s commanded a premium over diesel powered boats that were a year or two newer. Proper care pays off. Most people don't really do it.

 

The seller should share those receipts when the buyer asks for them...hypothetically.

 

If asked, share. if not, don't bother -- probably not important to the buyer. Just hand everything over at closing.

 

I am in the process of buying a boat right now and I requested all service records and receipts for work done on the boat before I did any surveys.
As part of my contract after the contract was signed and I gave the deposit all the records on the boat were giving to me.
I want to review all records with the surveyors before we went to the boat, This will tell me the condition of the boat before we even get there.
All the records were emailed to me from the broker.

 

I would send, and when I asked I received electronic copies of the receipts.
I couldn't think of a reason not to send a copy if asked.

 

So what do you do with these receipts? What exactly are you looking for?
I have owned my boat for 6 years and have had zero issues with the engines so no records/receipts of maintenance .... a survey will tell you what systems don’t work..on both engines and the rest of the boat... oil analysis will give you an idea about the engine condition.
I replaced most hoses but you don’t need a receipt to tell you that you can just look at them
I have all receipts for oil, filters, hardware, canvas, flooring, duckbill valves, batteries, windshield gaskets, electronics ....if I didn’t I don’t know why I wouldn’t buy my boat

 

I was looking at a boat and one of the receipts mentioned removal of the water heater and quote to replace. I missed it when I inspected the boat. Was able to make that part of my offer. Otherwise consistent maintenance for those that don’t do their own.

 

I was looking specifically for records of the services done to the pods.
And annual maintenance

 

A boat is a like a used car or truck. I have bought them and never seen any such documentation except for Carfax. If you state well maintained and provide all records and something fails the purchaser has all your records and if he finds the failed item was not maintained as per manufactures recommendation then he might sue for the cost of repair. Would you provide all your maintenance records from your house when selling it?

 

Respectfully, these transactions, unless explicitly stated otherwise, are as-is/where-is.

as far as the house comparison, if you had a new roof put on and told the buyer the house has a new roof with an X Year warranty (and assuming it was transferable) wouldn't you provide the buyer with that documentation?

 

The buyer in this hypo sale is well aware of the border issues. He has a mechanic and surveyor that are going to do the surveys and a licensed captain who is prepared to do the sea trial and when this hypo sale is concluded he is going to take the boat up to Vancouver. When that happens the hypo seller is going to be VERY happy and a bit sad at the same time.

 

Not sure receipts are all that important. As long as there is no lien on the boat I would not care to see receipts. I would be very interested in knowing what work has been performed on the boat and how that squares with the service intervals that the manufacturers recommend for the various systems.

 

Obviously the boat was use as a write off for the PO/LLC. That doesn't bother me. Actually it seems as if it could be a open check book boat.

 

Use it as a tool to get the boat sold! However just like Frank it stays with the boat!
Any one that is looking at a boat above 30 feet will understand this and also appreciate the fact that you have a " book" on the boat and will understand that it is part of the value of the boat.

You are selling a dream and a boat and part of the dream of buying a big boat that cost over 100k or more is that your not going to have to put money into the boat right out of the gate for mechanical issues.
What makes the sell is them leaving the boat after looking at it and knowing that they get to spend money on fun upgrade not on mechanical repairs.

I am kinda shocked that your boat and Franks have not sold yet.
These are two examples of boats that are right to buy and with a little bit of a premium.

 

"I am kinda shocked that your boat and Franks have not sold yet.
These are two examples of boats that are right to buy and with a little bit of a premium."

I am too. My boat has 2 HUGE advantages over the other local boats--it is a freshwater boat and it's HERE. The other one this guy has looked at is in the Midwest so it's a freshwater boat but it has to be disassembled and trucked to Seattle. Ca-Ching, there goes $30$-45K.

The buyer is well aware of that.

 

When I sold the 58 in October, I provided copies of all of the engine maintenance records prior to the buyer making his offer. For MAN engines in particular, buyers want to know exactly (date and engine hours) when the 400 and 800 hour services were last performed as well as the annual services. When we closed on the boat I also gave him two 3" binders with ALL of the maintenance and upgrade records and receipts from my 6 years of ownership.

 

A bit of an update on this hypothetical boat sale. All the prices have been agreed on. We're still waiting for the sea trial and survey and possibly a haul out.

The hypo seller is in Seattle where the boat is being sold. The broker was not working today so I talked with the GM to get an update. He "thought" the survey was going to be done next week and the sea trial following that.

He said the broker took the boat out on Lake Washington and ran it around for awhile and was "very happy" with the way the boat ran out. DOH! We ran it 232 (IIRC) nautical miles the day before we delivered it to the brokerage with ZERO problems.

 

.....The broker was not working today so I talked with the GM to get an update. He "thought" the survey was going to be done next week and the sea trial following that.....

Every purchase agreement that I’ve seen and also written is very specific as to when the survey and sea trial must be scheduled and/or completed. I.e: within 5 days, 7 days, 10 days, 14 days etc. from the parties signing the agreement. I’m a little surprised that you are unclear of the timing and have to ask the broker. It’s usually (always?) quite specifically defined.