How to Purchase a Far Away Boat

[Stu Jackson]

Originally Posted by OrangeCrush

I think I'm with you and Cheechako on this point. But perhaps my original idea of a vague question like, "Is your price firm or flexible?" might be helpful to prevent a wasted trip?

1. Turn the table around. How would YOU, as the seller, feel if a buyer asked that question? Many boats are listed as "firm" or "obo" which is the first clue. This is Negotiating 101. Maybe ask The Donald.

2. If your finances are improving over time, perhaps that could be part of "The Deal" - you don't know if the seller could carry some of the price, do you?

You've received tons of advice, some of it conflicting, all of it good.

Now is the time for YOU to go do something.

Good luck.

[Cheechako]

Originally Posted by OrangeCrush

I think I'm with you and Cheechako on this point. But perhaps my original idea of a vague question like, "Is your price firm or flexible?" might be helpful to prevent a wasted trip?

Maybe just query "how much cushion do you have on your asking price?"
As far as offending the owner, some people are real touchy and others aren't. At least if you have inspected the boat first, you have a basis for an offer.
I have offered as low as 50% of asking price before. I usually come up with some reasoning for doing so.
"There have been 3 listed in the last year, none have sold and some are already 20% less than your asking price..You have a lot of equipment on board but much of it is aging...."
or stuff like that.
Ask a bunch of questions about things that often go wrong... you will usually strike gold with one question that the owner has worried about:
"have the tanks ever been replaced? The one in the bilge is a bit of a worry"
"any idea how much work it would be to get those chainplates out for replacement?"
"have you ever had blisters?"
"have you noticed water in the rudder at all?"
"Have the keel bolts ever been changed out or inspected?"

[Stu Jackson]

Monday Never

Go to the beginning.

[OrangeCrush]

Originally Posted by Stu Jackson

Now is the time for YOU to go do something.

Good luck.

Agreed, but as usual I'm glad I ran it by the forum first. Thanks again.

[Terra Nova]

Originally Posted by OrangeCrush

Quote:
Originally Posted by Terra Nova View Post
There is no reason to talk $ until you have seen the boat.

I think I'm with you and Cheechako on this point. But perhaps my original idea of a vague question like, "Is your price firm or flexible?" might be helpful to prevent a wasted trip?

What part of "no reason" do you find confusing?

[OrangeCrush]

Originally Posted by Terra Nova

What part of "no reason" do you find confusing?

Jeez that got unexpectedly snippy. A lot of people gave me conflicting advice and I've sided with you. I'm just trying to see if there is a middle ground.

[1affiah]

Please keep in mind, that with the age of internet advertising, ebay, fsbo websites, etc., the owner has probably been already offered: "cashiers checks" in excess of asking price, "brother-in-law" inspections, swampland in Florida, and been promised proceeds from the Jamaican Lottery.
If your first inquiry is to ask for the lowest possible price sight unseen, you are putting yourself in that category, whether deserved or not.
You cannot possibly determine the best price without seeing the boat, ready to make the deal.
It would be hard to believe than any seller would not have some wiggle room built in. Homework needs to be done, effort put forth & money spent to get the best outcome.

[Terra Nova]

Originally Posted by OrangeCrush

Jeez that got unexpectedly snippy. A lot of people gave me conflicting advice and I've sided with you. I'm just trying to see if there is a middle ground.

I had the vague feeling I should have included a happy face.

Play your cards close to your vest. There is simply no reason for you to ask a seller if his asking price on his months-old listing is negotiable.

[OrangeCrush]

Originally Posted by Terra Nova

I had the vague feeling I should have included a happy face.

Play your cards close to your vest. There is simply no reason for you to ask a seller if his asking price on his months-old listing is negotiable.

Ah ok, no worries. Glad it was me that took that the wrong way, and point taken.

But wait you mean I can't trade my swampland for sailboats?

[Terra Nova]

Only if it's in Florida.

[Cadence]

Originally Posted by Stu Jackson

1. Turn the table around. How would YOU, as the seller, feel if a buyer asked that question? Many boats are listed as "firm" or "obo" which is the first clue. This is Negotiating 101. Maybe ask The Donald.

2. If your finances are improving over time, perhaps that could be part of "The Deal" - you don't know if the seller could carry some of the price, do you?

You've received tons of advice, some of it conflicting, all of it good.

Now is the time for YOU to go do something.

Good luck.

Stu,

I don't think anything is firm. That can be a ploy.

[Stu Jackson]

Originally Posted by Cadence

Stu,

I don't think anything is firm. That can be a ploy.

Reason I u=put it that way is that we see many many ads for boats in Latitude 38 and I've been reading it since it started. Firm and obo appear regularly. My experience, both personally and with friends is that the firm guys almost always have a boat that's worth it, and those ads disappear the next month. Other ads have run for more than three months. I was trying to explain the fol to the OP.

Ploy = Negotiating 101, too.

[Cadence]

Originally Posted by Stu Jackson

Reason I u=put it that way is that we see many many ads for boats in Latitude 38 and I've been reading it since it started. Firm and obo appear regularly. My experience, both personally and with friends is that the firm guys almost always have a boat that's worth it, and those ads disappear the next month. Other ads have run for more than three months. I was trying to explain the fol to the OP.

Ploy = Negotiating 101, too.

Yep, OBO has probably been on the market and is a " fixer upper " or spend your money someplace else. One considerationn is an older boat requires cash.

[Manos1955]

i had this exactly same situation last year- I was living in New York City then and I was trying to buy a boaty in North Florida (San Augustine)- Lessons learned
1- Be with the surneyor while the survey, else you may miss important items unchecked (if you read a survey report, you will see that the surveyoir holds no responsibiliy for anything- his survey is good only at the time of the survey- a day later, bye - bye)
2- You cannot seriously negotiate without seeing the boat- BUT after you see her, you can negotiate at least a 30% discount of the asking price- be bold and try it- it is always working for me
3- A weekend to do all this jobs is not realistic- I spent 4 days in San Augustine for the same job
4- Insurance! The (purchase) survey to buy the boat is DIFFERENT from a survey to buy insurance for the boat- actually it is cheaper to make a survey to insure the boat- for a 56 steel sailing boat I paid $200 for the insurance survey BUT $600 USD for a PRE Survey. YES you do not have to do a full survey in the beginning. You can make a pre survey where the surveyor checks only the vital issues, like the engine, the rigging, the sails, and the hull and deck. This usualy cossts you some $ 150-200 USD
If you are happy you go on with a full pre purchase insurance, Make sure that the Surveyor you found belongs to a good assosiation ! He must be scared to lose his reputation!
Prices for pre purchase surveys are usualy $xxx$ per foot, 15 US $ per foot being an average price
At your disposal for any further assistance

[OrangeCrush]

Originally Posted by hellosailor

You might also want to see if there are any other interesting boats in the area, so that while you are there, if this one doesn't pan out, the trip isn't totally wasted.

I didn't think seeing another viable boat on the same trip was gonna work out, but this Morgan 384 just popped up on Yachtworld in the same town. It's not as high on my list because my preference is a cutter, but this boat does look to be in extremely good shape.

Hopefully both of them are still around in three weeks when I can get down there.