Buying a Boat?

The search for your dream boat should be painless and fun, not stressful in any way. The process is simple, just four steps to finding your dream boat.

1

Step 1:

Talk with & Discuss Key Questions

We’ll sit down in-person or over the phone, talk through the process of buying your dream boat but before we start searching and doing a deep dive. We’ll have to consider some key questions like…

1. How will you use the boat 80% of the time for the next 3-5 years?
2. Who will be your crew 80% of the time?
3. Where will you keep the boat?
4. How will you pay for your boat?
5. How much are you planning to spend?
6. Are you going to finance your boat or use cash?
7. What is the bank willing to lend you?

2

Step 2:

Market Analysis
& Getting Aboard​

We’ve covered the key questions; now we’ll start looking at the criteria for your boat. Things like performance, comfort, ease of maintenance, price, or conditions. What are your must-haves, and what can you go without; outboards, in-mast furling, generator, air-conditioning. Not sure? Don’t worry; we will discuss the pros and cons of each option.

Then after we compile a list of all the possible boats that are within your criteria, next, we’ll hit the road, and look at the boats on our list! You can try them out and see if it feel right or not, I will continue to recommend boats until we find the right one for you. We will investigate every inch of the boat and get an understanding of the condition.

3

Step 3:

Making An Offer

Before making an offer on any boat, we will study the market to learn what similar boats are available and what like models have sold for in the recent past. We will learn as much as possible about the boat’s history.
Armed with this information and the results of our initial investigation, you will feel confident that you know the true value of the boat. When you make an offer on a used boat, you are required to make a 10% refundable deposit and to sign a purchase agreement.
The offer is subject to a survey by an accredited marine surveyor and sea trial (the sea trial done at the same time as the survey). After the initial offer is submitted, the negotiations begin.

Many buyers get nervous during this time. There will not be much for you to worry about because we will have done our homework and discussed a strategy before making the offer. When buying a depreciating asset, it is important to “make your money up front,” and that is all done in the negotiation. It’s common to save clients thousands of dollars by doing the homework and having a plan. Once we have a deal, it is time to survey and sea trial the boat.

4

Step 4:

Survey, Sea Trial
and Closing

The survey and sea trial are one event conducted by an accredited surveyor in your presence. The survey/sea trial typically happens within a week of agreeing on the price of the boat.

It is important to know that the surveyor will find items on every survey. With the results of the survey in hand, we will now have a clear understanding of the condition of the boat and can go back to the negotiating table if there are areas of serious concern.

Once we have decided the best course of action and come to an agreement with the seller, the buyer will sign the “acceptance of yacht” document and move on to the closing. The boat is almost yours!

The final step is to gather the required items for the closing: proof of insurance (don’t worry we’ll help you with that too), a copy of your driver’s license, etc. You will wire the remaining balance and come to the office to sign the closing documents in person or close remotely via FedEx.

Congratulations! You now own your boat!

Need To Sell First?

Receive a free boat valuation to help get 

the selling process started

Need Assistance?

Let us assist You! A free 15 minute
consultation, at your convenience.