Boat buying

C

Capt J

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Joined
Dec 2, 2011
RO Number
32809
Messages
21
When buying a used boat is it better to have a broker representing you or should I just rely on the sellers broker to handle all the details involved?
 
I don't know that it matters. The seller is paying the commissions regardless. Just make certain that whichever broker you have representing you is an honest one.
 
What are you looking to buy?
A 19' open boat or a 58' Viking that you rarely plan to use?

I always opt to do it on my own.
I myself never look at a boat with out my moisture meter, mallet, and mag lite. I always wear clothing that allow me to crawl all over a bilge.

I am out of the game though, I no longer sell and I have owned the same boat for almost 2 full seasons now!

I am curious to see the response from others in different regions - just out of curiousity.
 
Only a handful of listings are not available for co brokerage so you have nothing to loose by having your own broker representing you. It will smooth out some of of the negotiations, paperwork, closing, etc. Plus your broker will usually be the one holding your deposit in escrow

Obviously it depends on the boat size and value, probably an overkill on a used 25 footer...
 
Use Boat US or some other independent escrow service, not the selling dealer.
 
I usually concur with Pascal and learn a great deal at the very same time. As to two brokers involved instead of one; I try to keep the number of players at the trough to a minimum. The fewer familys to feed the more aggressive the sellers and their reps can be. Which leads me to - who does the broker represent or who do the brokers represent? I mean if you're a judge in a civil trial, how would you answer that question? I believe in most situations they are acting as the seller's agent -that's who pays them.
I know from personal experience what can happen when the buyer's broker has control of the dollars. (A Michigan broker comingles escrow money with other busness account. MY MONEY!! He later gets in serious trouble with his bank; criminal charges are brought.) I have never used BOAT/US or an attorney, However, I probably would next time. In these times there are a lot of small busness people that are living hand to mouth. I don't want to be there when the last dollar is gone.
When do I use a broker? To sell. I don't want to deal with the hassle and my broker has a lot more contacts than I do. He really is good.
 
There are pluses on both sides. On the selling side, I deal with all of the nonesense associated with showing the boat. For a buyer, it is helpful to see what other boats have actually sold for. That database is accessible to a YW broker.

As far as negotiation, a buyers broker has no emotional involvement and if they are good, they are looking to negotiate the best deal for their client without respect to the commission.
 
Bliss-

Out of curiousity, which marina in Michigan did you have issues with?

Sorry, i dont mean to hijack the threaf!
 
Personally, I would never rely on information from any broker, buyers or sellers. All they know is what they are told. It's the Surveyor I would be most concerned with. Hire the best and do a thorough inspection from bow to swim platform, hull, systems and mechanical.

Bob
 
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