Should I use a broker to help me buy a boat?

P-Dogg · Post by **P-Dogg** » Fri Jul 01, 2011 12:21 pm

I do not need assistance deciding what kind of boat I want, as I am almost certain that the kind of boat that I want is a mid-engine tricab. I can certainly use the internet to find potential boats. I have read David Pascoe's two books on marine surveys, so I feel that I am in a position to see if a boat is even worth a real survey, or that I should move on to another one. I do not need help securing financing. I have read prodigious amounts about boat maintenance and ownership. I have a moderate amount of experience skippering a 36 ft twin diesel bayliner (http://www.cbayleasing.com), as well as a 38 ft twin diesel Bertram. I have this forum as a resource (thanks guys! -- up to page 60 of 90 something). So that brings me to my fundamental question, what would be the point of using a broker to help you buy a boat, ever?

koviak · Post by **koviak** » Fri Jul 01, 2011 1:02 pm

I have used a broker to both buy and sell boats and also bought many without a broker. Guy I use is a friend and he really could find what I was looking for before it went to a listing. This is how I came to own a 10 meter Trojan at present.

prowlersfish · Post by **prowlersfish** » Fri Jul 01, 2011 1:06 pm

Nothing wrong with using your own broker to deal with the sellers broker , but it will slow down the negations as thing will go thru 4 people not 3 , you to broker to broker to seller . Private sellers may not want to talk to a broker . If a seller is using a broker then of course you have to go thru the broker . trying to bypass the broker wrong as there is a contract .

gettaway · Post by **gettaway** » Fri Jul 01, 2011 2:10 pm

my two cents worth on using a broker.

I bought our F32 about a year ago, the boat had been for sale for months and the price dropped a few times.
I looked at the boat over a 4 month period of time and kind of built a relationship withe the broker (you could do this in less time, but I was not in a hurry)
Over that time, the broker revealed tidbits about the owner, like, why he is selling, he owed back rent on his slip, financial state etc. which helped me form my offer when I did.
The broker knew right where the boat would sell, which was considerably less than asking.

Once the deal went through, the broker, licensed and bonded of course, handled the offer, took the cash payment on behalf of the owner and prior to the owner recieving any money from the sale, made sure any outstanding debts against the boat was paid.

After the sale, and after I paid them, in cash, we went through the normal documentation company that handled the Coast Guard documentation and title transfer etc. however, it took 5 months to recieve the title and documentation.

Well come to find out, the previous owner still owed money on the boat, twice as much as I paid for it. he also owed 6 monrhs of back slip fees and the diver that cleaned the bottom.

I was totally relieved that I had used a broker and he received the money instead of the owner. the broker worked with the bank to "short sale" it, made consessions with the marina and paid the diver. Needless to say, the previous owner didnt see a dime, but I would bet that had this been a person to person deal, I would have been totally screwed.

I will always use a broker for a large boat "yacht" purchase from here on.

wowzer52 · Post by **wowzer52** » Fri Jul 01, 2011 6:00 pm

I bought mine without a broker or survey, a quick simple deal. Day 1, I looked the boat over and checked all the major components. Day 2, I gave him money and he gave me the title. I wouldn't recommend that to anyone else but Ive been boating and wrenching since New York was a corn field and knew what to look for.