Evan Gatehouse wrote:
Thomas Wentworth wrote:
How long should it take for a purchase to be completed when buying a
cruising sailboat.

First, find boat and visit boat. Then, go back for second visit.
Meet with owner and discuss the price etc..
Once a price has been agreed to ; draw up purchase and sales,, put
money down,,, try to find a surveyor ,,, get surveyor to come and
look at boat ,,,, make repairs based on survey ,, usually means
going back and forth with owner...

So, how long should all this take?

A month? Two months?

I was just wondering .. no particular reason.

First boat:

Look at boat, make offer 10 minutes later. Broker says go and sit on
the boat for another 1/2 hour so you'll be sure. Go back in 1/2 hour,
make offer, put down deposit cheque. Broker calls owner. We haggle
over the price for 10 minutes and come to an agreement. Survey the
next weekend, money changes hands that day, we own a boat. Total time
= 8 days

2nd boat:

Look at boat, make low ball offer, get call back the next day, agree
on price. self-survey that week one lunch time (I work close to the
boat). Have it 4 or 5 days.

3rd boat:

Go and look at boat. Go and look again in a month. Think a bit and
make an offer. Go back and forth for a few days, agree on price.

Survey in 2 weeks because it's hard to find a place to haul a 23' wide
boat. Survey, haggle over items found, send certified cheque by
courier in a few days. Total time about 3-4 weeks.

Evan Gatehouse

One must assume he has the cash. If a marine mortgage is involved and the
boat is not registered, (I'm talking about the UK, not US), it could take a
faily long time as the various previous owners have to be traced before the
mortgage can be set up by the finance company. About 6-7 weeks in the UK. If
the cash is available, then the only delay is likely to be the survey report
and it's resultant haggling.

If the survey is satisfactory, and a broker is involved, make him earn his
fee by pressurising him to hurry the sale through. Impose penalty clauses in
writing to enforce this. These guys get away with murder, and are employed
by YOU to see that the sale goes through quickly and smoothly. Use 'em!