First Boat Concerns

[seancrowne]

Ok well the old lady and I have found the boat of our dreams. We are waiting for the loan approval and are ready to put the money down.

The boat is in the Bahamas,Fl and we are in oahu, Hi. we have as of now not seen the boat in person but we would make a trip in december after putting down the money and drawing up the purchase agreements.

I am now wondering what i may be overlooking, registration(state or federal uscg), insurance( noone wants to insure a boat in hawaii?). transportation to and from( how long will it take (est..). What to look. what we ofer. ( we were thinking about 15 % below asking, to feel it out but willing to go to just 5% below. ( boat is very fairly priced). How much do i exspect to pay for a survey ?


Alot running through my head during this stressful but exciting time. like a kid again and the feeling you get when you realize its a week or two till christmas and you want to be on extra good behavior.

[Cheechako]

Wow... I'm without enough words... Think carefuly. The bahamas are a long ways from Hawaii. There must be a lot of boats on the West Coast. ? See the other recent threads about buying for what to offer... generally 30% less or more.

[harryrezz]

So what exactly is the boat? As was just mentioned, there are a LOT of boats on the market, and it is a long way from the Bahamas to HI. Perhaps there is a similar boat closer to you that would not require as much investment (view it as additional purchase price) to get to where you are???
If you are convinced that "this is the one" (we were), offer about 20% under asking (worth a shot in this market) - leaves both parties some "wiggle room".
By all means, make it VERY clear that the offer you are making is contingent upon a survey and a sea trial. Have the surveyor go with you on the sea trial. That way if evereything is not as advertised or if something turns up that you do not like you can get out of the deal and get your deposit back. If you do put down a deposit, make certain that it is with a reputable holding agency, such as the listing broker. DO NOT give the deposit directly to the seller!
Once you have seen the boat and it has passed the inspections, etc. you can take the final steps to get it insured, etc. .... but, as a final note, do not sign the papers to take ownership without having proper insurance in place.
Whether you register the boat with the state or document it with the Coast Guard (or both) depends on how you want to use it. Investigate both options before making a commitment.
Good luck - and [lease give us more specific info if you want more guidance.

[Duke 48]

When I purchased my boat three yrs. ago (it had a FL registration) I had to move it out of FL within ten days or pay FL. sales tax on the purchase price.

[seancrowne]

the boat is a 30 foot richard woods design catamaran. I do realize the distance and fees involved with the sailing to hawaii. an unfortunate donside to island life. it is somthing that has bothered both of us as my ife ould not be making the crossing. we have been researching and looking for some time now and are rather picky about exactly what we are looking for. We made a list of possible boats , and boats we have seen sailed, and dreamed about. (long list) and have come down to two boats. this one being our favorite so far. yeah we are both in the "without words" catagory right now, same thing everyone said to us when we decided to leave new york city and move to hawaii. Live life now. is all i can really say and well i aint livin till i'm sailing.

[camaraderie]

Sean...be prepared to pay around $30 a foot for a cat survey and get yourself someone from Florida to do it. If I am right you are looking at a 30 year old home-built catamaran and it could have many issues.
If you are taking out a loan you will need to have the boat documented through the coast guard and most loans won't be granted without a survey by an ABYC or SAMS surveyor AND an insurance policy in force. The insurance for a home built 30 year old boat and blue water voyage with inexperienced captain and crew and outboard engine will be most difficult to obtain. Traveling to other countries will also require documentation.
Do your homework before you sign the papers!!

[imagine2frolic]

If all things go well with the sale. You have a wonderful sail home to look forward to. Almost all of it on the quarter, or beam. Where are you planning to start your trip from to the canal? From the east end of Cuba to Trinidad there are a lot of choices....i2f