Buying boat that is out of water for the winter

[jbinbi]

Hope to be putting in an offer on a boat in MA that will be out of the water before I can it surveyed. So will have no idea if sails go up, engine starts, etc.

What wording do I want in the P&S? Does the money stay escrowed the whole time, or at least a hold back on it?

28' daysailor for 40k.

Thanks,

[more]

Originally Posted by jbinbi

Does the money stay escrowed the whole time, or at least a hold back on it?

28' daysailor for 40k.

Thanks,

Of course if seller accept your rules. Also ask seller buy you new Ford F250, a marina slip , pay insurance for all your life.
everything is possible if seller accept your offer.

Sorry, today i drive 10 km for meeting with one buyer.
i don't understand this people. if i say the price is fix why ask discount wasting my time and your time.

for you you can pay return boat in water and again preparation for winter if seller accept this your offer, but also 40k for used 28 ft daysailor is a lot maybe not for 10 year old

[jbinbi]

Originally Posted by jbinbi

What wording do I want in the P&S? Does the money stay escrowed the whole time, or at least a hold back on it?



Thanks,

Oops, that was meant to say, a hold back on SOME of it. Like 10k stays in escrow until the spring?

[Knotical]

40k for a 28’ daysailor? 😳

You have the whole winter to scout boats, if his boat is still not sold by spring (highly likely) put in an offer at that time, his sale price would have come down anyway.

[GreenWave]

I don't think I would ever buy a sailboat that I couldnt put through the ringer in the water... unless it were brand new and had a warranty.

[jbinbi]

Sigh. I just want an answer to my question on the P&S. Don't really need comments on the price/value prop. BTW, 40k would be a steal for an Alerion 28' day sailor. Maybe I am in the wrong forum?

[boatpoker]

Make the offer contingent on an out of water survey satisfactory to you with a negotiated holdback til' a satisfactory sea trial can be completed.
This is a pretty standard way of doing it here in Ontario.

[jbinbi]

Thank you! Any idea on what a hold back amount should be. What I am worried about is engine not going smoothly into gear, not running well, etc., and sails working well...

[boatman61]

The survey is no problem if its on the hard.. as for the sea trial, that's depends on whether your up for paying for the launch and lift back out unless you sail her home after a good sea trial.
Suggest that waits for the survey result.
For the rest, talk to the owner and broker tho' I doubt he'll be prepared to hold the deposit over the winter for a buyer who may not follow through.
He wants to sell, not pay another winters storage.

[jbinbi]

Would pay most of the price. Just holdback like 5-10k. Sea trial can't happen until the spring. No problem paying for the launch of it, it needs to be launched anyway. Most sea trials here are just done while the boat is in the water and then the out of water survey is just a hang, so it is a short haul of an hour or so.

[boatpoker]

Originally Posted by jbinbi

Would pay most of the price. Just holdback like 5-10k. Sea trial can't happen until the spring. No problem paying for the launch of it, it needs to be launched anyway. Most sea trials here are just done while the boat is in the water and then the out of water survey is just a hang, so it is a short haul of an hour or so.

WAG ... based on the value of the boat, I'd guess $5k would not be out of line but it all comes down to your negotiation skills and your personal aversion to whatever risk you may perceive.

[goboatingnow]

This is not complex. You pay to put her back in the water , survey her trial sail etc. You complete the deal or not , and you pay to winterise her.

What’s the problems buyer always pays for survey and associated costs

No need for escrow

[boatpoker]

Originally Posted by goboatingnow

This is not complex. You pay to put her back in the water , survey her trial sail etc. You complete the deal or not , and you pay to winterise her.

What’s the problems buyer always pays for survey and associated costs

No need for escrow

That wouldn't often work here in Ontario if the boat is at the back of the yard with 200 other boats in front of it. Also at this time of year the yards would refuse because they have hundreds of other boats to lift before weather shuts them down.

[goboatingnow]

Then it will be up to the seller to decide how he wants to play the deal. You can suggest any compromise you like if he goes along with it. The survey should give you enough confidence to proceed (Or not ) then agree a holding payment , which you could ESCROW if you wanted say 10% till Re launch time and complete the sale then. I wouldn’t go over about 10 % ( ie the typical P&S deposit ) of there’s a broker then it could be held in a client account for the duration

[Cheechako]

The sails can be inspected anywhere.. The engine can usually be ran on the hard. Why not specify he leaves it in the water or allows you to hear the engine run at the dock before pulling it out?