Looking to purchase a used cat and got questions

[pondering65]

Looking to purchase a used cat – 36ft to 40ft in 2016 in the 200k – 300k range and I am looking for some input. Looking to acquire from Eastern coast, Carb area. as that is intended area for our live aboard.

In looking at yacht world – When I search on all dates I see lots of boats in the North America area, but when I change the search to postings in the last 60 days the numbers are significantly reduce. So my question is the older listings of more than a year are they not likely available and yacht world just not updated? Or is it likely they may still be out there for sale?

Is there another listing I should look at?

I am thinking I need a buyers broker – would they have access to listings not found on yacht world. Thoughts?

Do I find me a broker and then find me a separate surveyor?

What might be what I call hidden costs?, sale tax, property tax, luxury tax, those type of things that I need to account for. Currently reside in the Midwest, so considering a move to another state in gulf area just for the purpose of boat purchase if it helps me avoid any of these costs.

Our plan is to stay associated to a marina or somewhere we can live-aboard for six or so months while we get really comfortable with our new boat and skill-set prior to a more wanderlust approach.

Again thank all of you that reply.

[2Hulls]

Hi ponderings - I'll take a shot at a few of your questions that I feel qualified to address based on my own experiences:

Originally Posted by pondering65

I am thinking I need a buyers broker – would they have access to listings not found on yacht world. Thoughts?

You don't need a broker, but I suspect that individual brokers may know about boats you can't locate yourself. Whether you need a broker depends on your level of knowledge of the boats available, what you want, and your comfort navigating the process, keeping in mind that the seller's broker is involved anyway and he/she will handle the process for both of you. Bottom line, you can be your own broker and have more negotiating power since the selling broker is the only one involved in getting the full commission from the seller rather than splitting it with any broker you have.

Do I find me a broker and then find me a separate surveyor?

You find your own surveyor regardless of whether you have a broker or not.

What might be what I call hidden costs?, sale tax, property tax, luxury tax, those type of things that I need to account for. Currently reside in the Midwest, so considering a move to another state in gulf area just for the purpose of boat purchase if it helps me avoid any of these costs.

In the US this depends on where you will keep the boat. Most states have some form of sales tax, but not all. Some states have personal property tax administered locally in the city or county where you keep the boat. Research having the vessel USCG documented as this may affect other taxes. If you purchase a boat out of the country, and not yet imported, you'll have to pay import duty.

Good luck,
Dave