01
Be informed
When looking for boat buying bargains, register for email alerts so you are among the first to hear about vessels for sale.
You can access a lot of information on the internet but if you would like an appraisal of your boat’s value, contact us and we’ll be happy to provide you with one free of charge. We have an up to the minute understanding of the current state of the market.
Other ways to keep a step ahead include letting your marine mechanic and other trades know about the kind of boat you are looking for. If you have a favourite marine surveyor, also speak with them.
Be prepared
02
When it comes to negotiation, boat sellers are often attracted to buyers who are ready to move and have pre-approved finance over those who don’t.
Loan pre-approval allows you to get into the purchase process knowing the maximum amount you have to spend on your next boat. It also gives you confidence to buy at auction or negotiate on price and saves you from looking at listings that are not within your price range.
03
Make the first offer
With the best boats receiving multiple offers, try to get a box seat for negotiations. Make the first offer and have the broker agree to come back to you with the final right of refusal to beat the highest offer, or to submit a counter offer.
By making the first offer, you are in a position to negotiate with the broker so that you are the only person given a second offer opportunity.
Conduct a sea trial
04
Once you have agreed on the purchase price with your broker and the paperwork is done, arrange a sea trial as soon as possible. This is your best opportunity to satisfy yourself that your new boat is as good as it appears to be.
Often it is good to get a second opinion from another friend with plenty of boating knowledge, so take them along on your sea trial.
It’s quite normal that the sea trial is conducted with your marine surveyor on board. This is a great way to get an up to the minute feeling for the assessment.
05
Obtain a survey inspection
Once you’ve found the boat of your dreams, or at least one that will help you on your journey, it is always a good idea to engage a marine survey inspection as soon as possible. These are conducted both with the boat slipped (out of water survey) and underway. No one wants any hidden surprises.
Professional inspections can provide you with a very quick insight as to whether that vessel is worth buying. If there is a problem, that simple inspection may save you a lot of pain and money in the long run.
