Buying a boat in winter.

[Ross]

Jim, I said start it, run it ,shift the tranny, if it works

the test is done. You shut off a diesel engine it stops real fast if it is good. If it is bad it spins down like a turbine, or it smokes, or it is hard to start, It is all going to depend on the selling price. A 7500 dollar boat or a 75000 dollar boat. The more you spend the more careful you are.

 

[Ross]

Jim, I said start it, run it ,shift the tranny, if it works

the test is done. You shut off a diesel engine it stops real fast if it is good. If it is bad it spins down like a turbine, or it smokes, or it is hard to start, It is all going to depend on the selling price. A 7500 dollar boat or a 75000 dollar boat. The more you spend the more careful you are.

 

[Jim]

Sorry Ross.....

I have a lasy eyeThat is what I say!

 

[Jim]

Sorry Ross.....

I have a lasy eyeThat is what I say!

 

[Doug Burton]

2 things

that I screwed myself on when I bought. 1. the broker never shut the engine off during sea trail, turned out the batteries were junk and had been on a charger till we untied the lines. 2. Engine ran warmer than it should. That should have tipped me off but I and the surveyor felt it wasn't a big deal. It wasn't till I needed it and then overheating became a real issue. HOLD some money back till you get it under a load!

 

[Doug Burton]

2 things

that I screwed myself on when I bought. 1. the broker never shut the engine off during sea trail, turned out the batteries were junk and had been on a charger till we untied the lines. 2. Engine ran warmer than it should. That should have tipped me off but I and the surveyor felt it wasn't a big deal. It wasn't till I needed it and then overheating became a real issue. HOLD some money back till you get it under a load!

 

[Brian D]

So, let me get this straight...

Say, the negotiated and accepted price is, oh, $27,000. And you want to escrow say, oh, $7,000 or that for possible engine repairs after a belayed sea trial. So you give the guy $20,000, hold the other $7,000 and if everything is tip-top, you pass over the remaining $7,000. Else some of it is used for repairs.Is that what I am understanding? This is all so new to me. Someone needs to write a book with complete step by step instructions on how to negotiate and buy a boat. There is probably one already out there.Thanks

 

[Brian D]

So, let me get this straight...

Say, the negotiated and accepted price is, oh, $27,000. And you want to escrow say, oh, $7,000 or that for possible engine repairs after a belayed sea trial. So you give the guy $20,000, hold the other $7,000 and if everything is tip-top, you pass over the remaining $7,000. Else some of it is used for repairs.Is that what I am understanding? This is all so new to me. Someone needs to write a book with complete step by step instructions on how to negotiate and buy a boat. There is probably one already out there.Thanks

 

[Pete]

Now you have it sort of.

Brian, That is the correct concept except you don't hold the 7k back personally. That is what the broker gets paid for and part of what he does to to earn his fee. That way a "unbiased" (supposedly) third party acts on behalf of you and the seller. If you would find an engine problem you will need to provide repair bills or at least an estimate from a real mechanic (as opposed to your brother in law who does all the work on his own boat) or a marina, If a Yanmar engine my recommendation is that you have a Yanmar engine dealer check it out and make any diagnosis of any repairs needed. That way any repairs can be mutual agreed upon by both seller and buyer.Communication goes a long way in keepng these things smooth, need to establish clear understanding in written of what is expected. for example will you expect the seller to purchase a new $3.99 radiator cap ? Probably not a realistic demand however repairing or paying for a bad alternator is reasonable. Remember it is entirely possible that the engine is in excellent shape and the seller will receive the funds held back at closing. The other option here is to just go to contract and WAIT until a land and sea trial can be done,put a deposit on the boat and agree to do it as soon as the weather allows. However let me caution that buyers remorse or "I found another boat" could result in a loss of deposit. I still contend that most sellers and brokers are familiar with this process and it is normal in the cold weather parts of the country. This is common with new boat purchase as well I doubt to many people pay in full at a boat show. Most boat shows in New England are held in January, it is standard to close on the boat in the spring (even if it is a used boat). My suggestion is you need to talk to the seller and broker and get his this worked out. It should not be a big deal. If you were the seller would you really expect someone to purchase and pay for something they could not test like an engine ? Most people are reasonable and you should not have a problem doing this. Again there is ALWAYS another boat and maybe to will be more of a deal then this one ! It is your hard earned money you need to be proactive to protect your self unless money does not mean anything to you and you can afford a new engine with out having hard feeling or missing the money. You are the buyer and this should be your deal within reason. Just my opinion ! !

 

[Pete]

Now you have it sort of.

Brian, That is the correct concept except you don't hold the 7k back personally. That is what the broker gets paid for and part of what he does to to earn his fee. That way a "unbiased" (supposedly) third party acts on behalf of you and the seller. If you would find an engine problem you will need to provide repair bills or at least an estimate from a real mechanic (as opposed to your brother in law who does all the work on his own boat) or a marina, If a Yanmar engine my recommendation is that you have a Yanmar engine dealer check it out and make any diagnosis of any repairs needed. That way any repairs can be mutual agreed upon by both seller and buyer.Communication goes a long way in keepng these things smooth, need to establish clear understanding in written of what is expected. for example will you expect the seller to purchase a new $3.99 radiator cap ? Probably not a realistic demand however repairing or paying for a bad alternator is reasonable. Remember it is entirely possible that the engine is in excellent shape and the seller will receive the funds held back at closing. The other option here is to just go to contract and WAIT until a land and sea trial can be done,put a deposit on the boat and agree to do it as soon as the weather allows. However let me caution that buyers remorse or "I found another boat" could result in a loss of deposit. I still contend that most sellers and brokers are familiar with this process and it is normal in the cold weather parts of the country. This is common with new boat purchase as well I doubt to many people pay in full at a boat show. Most boat shows in New England are held in January, it is standard to close on the boat in the spring (even if it is a used boat). My suggestion is you need to talk to the seller and broker and get his this worked out. It should not be a big deal. If you were the seller would you really expect someone to purchase and pay for something they could not test like an engine ? Most people are reasonable and you should not have a problem doing this. Again there is ALWAYS another boat and maybe to will be more of a deal then this one ! It is your hard earned money you need to be proactive to protect your self unless money does not mean anything to you and you can afford a new engine with out having hard feeling or missing the money. You are the buyer and this should be your deal within reason. Just my opinion ! !

 

[shorty]

Wait

IMHO (if there is such a thing as a humble opinion) do not forgo the seatrial & engine check. With the economy the way it is, I doubt that buyers are lined up down the block, although it always seems so when you WANT THAT BOAT!Take surveyors with a sack, not a grain, of salt. Mine poo-poohed the 1/2" play in the rudder and I replaced it 1-1/2 years later. I have also found multiple other small things that he did not even check. Fortunately nothing else major. Oh, except for the genoa that blew out 1/2 way through the first year.

 

[shorty]

Wait

IMHO (if there is such a thing as a humble opinion) do not forgo the seatrial & engine check. With the economy the way it is, I doubt that buyers are lined up down the block, although it always seems so when you WANT THAT BOAT!Take surveyors with a sack, not a grain, of salt. Mine poo-poohed the 1/2" play in the rudder and I replaced it 1-1/2 years later. I have also found multiple other small things that he did not even check. Fortunately nothing else major. Oh, except for the genoa that blew out 1/2 way through the first year.

 

[Jim]

Wow! How about a little cheese with

that wine. You not going to find everything on a sea trail. There are always problems after the fact. If he wants the boat and it is a good deal, he better act or someone else will!

 

[Jim]

Wow! How about a little cheese with

that wine. You not going to find everything on a sea trail. There are always problems after the fact. If he wants the boat and it is a good deal, he better act or someone else will!

 

[dave]

buyer, slow down....

BrianJust go slow...DO NOT do as these guys suggest, just "because you want the boat" do away with the sea trial, survey and some common sense.Sea trial the boat or put aside $$$ to do so in the spring.Survey the boat and make an offer you ar comfortable withJust because an engine starts and stops, does not make it acceptable.Slow down, and think about this...logically..Ignore the thought of just buying the boat with out these tests...it will be a mistake in the long rundave

 

[dave]

buyer, slow down....

BrianJust go slow...DO NOT do as these guys suggest, just "because you want the boat" do away with the sea trial, survey and some common sense.Sea trial the boat or put aside $$$ to do so in the spring.Survey the boat and make an offer you ar comfortable withJust because an engine starts and stops, does not make it acceptable.Slow down, and think about this...logically..Ignore the thought of just buying the boat with out these tests...it will be a mistake in the long rundave

 

[Tony]

Escrow to the Max

Would you buy a car you intended to use, ANY CAR AT ANY PRICE, without driving it?Plaintiff rests

 

[Tony]

Escrow to the Max

Would you buy a car you intended to use, ANY CAR AT ANY PRICE, without driving it?Plaintiff rests

 

[Landsend]

Plenty of good advice...

Don't let your lust for this sailboat get in the way of common sense.

 

[Landsend]

Plenty of good advice...

Don't let your lust for this sailboat get in the way of common sense.