BoatBanter.com - How Long ???

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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.

All I can say is that I know of at least one case where it has been
done very successfully in way, way, less time than I've been following
your posts on the subject.

--

Roger Long

"Thomas Wentworth" wrote in message
news:SVoPf.6291$Rv1.4145@trndny07...
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.

On Tue, 07 Mar 2006 23:44:50 GMT, "Thomas Wentworth"
wrote:

How long should it take for a purchase to be completed when buying a
cruising sailboat.

Based on my own experiences buying various boats over the years, I'd
say that 4 to 6 weeks is probably typical, sometimes a bit longer.

It can go a lot quicker of course if you hurry the process along but I
think it's to the buyers advantage to take your time, negotiate a good
price, write up a solid contract with lots of time and an airtight
escape clause, do the survey and sea trial, digest the results,
renegotiate the price, etc.

It's a buyers market, take your time, and be prepared to walk away,
maybe twice. It is a powerful negotiating strategy.

Well, in my case, two weeks for every thing you mention and 6 months to
convience the wife.

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.

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.

There are certainly cases where it does get prolonged, but it doesn't
have to be that way. The two boats that I bought used were negotiated
in a few hours, the survey was within a few days (they are used to
working on short notice), and consummated within a day after the
survey. The last purchase I think we were told about the boat on
Tuesday, went aboard on Wednesday, surveyed on Friday, and wrote the
check that night. My last sale was handled long distance though a
broker with some give and take, but I think that took under two weeks
from the time the boat was shown.

The only reason for it to take a long time is if there are unresolved
issues from the survey, such as an engine that can't be started; this
can require an escrow. A friend bought an older boat after the survey
showed rot under the deck. I think that purchase was delayed about a
week so that estimates could be made and the price adjusted downward
about $5K. But still, it was all handled in well less than a month.

Purchasing at a distance can be a problem because you have to find a
surveyor, but if its local, you should already have a surveyor lined
up. Never, ever ask the selling broker if he can recommend a
surveyor, unless you only want a good report for insurance/loan
purposes. What you really want is a survey the has 10 pages of
problems reported on a boat that looks perfect. Personally, I don't
think this should be used to lower the price unless there is a
specific serious problem uncovered, but the survey should provide you
with several years worth of odd jobs.

On Tue, 07 Mar 2006 20:45:36 -0500, Jeff wrote:

Personally, I don't
think this should be used to lower the price unless there is a
specific serious problem uncovered,

I disagree. If the survey and/or sea trial turns up issues that you
did not know about at the time of your offer, you are perfectly
entitled to renogotiate. Some sellers will stone wall on that. If
so, excercise your purchase contract option to reject the vessel and
notify both the seller and broker via fax and letter. You did include
that clause in your agreement, right?

That will usually get things moving again quickly. The broker is
eager to see the deal go down and will put a lot of pressure on the
seller.

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!

Roger,,,, if the Captain of the Titanic had taken his time, slowed the ship
down, and avoided the iceburg;

YOU WOULDN'T BE VISITING THE WRECK 21/2 MILES UNDER THE SEA!

Patience Roger ...

==================

ps... I like your posts,, they always get me going.

---

instead of
"Roger Long" wrote in message
...
All I can say is that I know of at least one case where it has been done
very successfully in way, way, less time than I've been following your
posts on the subject.

--

Roger Long

"Thomas Wentworth" wrote in message
news:SVoPf.6291$Rv1.4145@trndny07...
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.

Hey, Roger .... if the boat deal falls through ,,, there is always Spring
Break!

================

CHICAGO - The American Medical Association is warning girls not to go wild
during spring break. All but confirming what goes on in those "Girls Gone
Wild" videos, 83 percent of college women and graduates surveyed by the AMA
said spring break involves heavier-than-usual drinking, and 74 percent said
the break results in increased sexual activity.

The women's answers were based both on firsthand experience and the
experiences of friends and acquaintances.

Sizable numbers reported getting sick from drinking, and blacking out and
engaging in unprotected sex or sex with more than one partner, activities
that increase their risks for sexually transmitted diseases and unwanted
pregnancies.

The AMA is trying to call attention to underage drinking among women because
their bodies process alcohol differently and put them at greater risk for
health problems, Dr. J. Edward Hill, AMA's president, said Tuesday.

The AMA-commissioned online survey queried a nationwide random sample of 644
college women or graduates ages 17 to 35 last week.

Kathleen Fitzgerald, a 21-year-old junior at Illinois State University, said
the AMA's effort to raise awareness is a good idea, but probably won't do
much to curb drinking during spring break.

"I think a lot of students wouldn't really pay that much attention to it,"
Fitzgerald said. "They would just be like, `Duh, that's why we do it.'"

About 30 percent of women surveyed said spring break trips with sun and
alcohol are an essential part of college life.

Also, 74 percent said women use spring break drinking as an excuse for
"outrageous" behavior that the AMA said could include public nudity and
dancing on tables.

Of the 27 percent who said they had attended a college spring break trip:

_More than half said they regretted getting sick from drinking on the trip.

_About 40 percent said they regretted passing out or not remembering what
they did.

_13 percent said they had sexual activity with more than one partner.

_10 percent said they regretted engaging in public or group sexual activity.

_More than half were underage when they first drank alcohol on a spring
break trip.

The AMA said the findings highlight the need for alternative spring break
activities. For example, the University of Nebraska, Lehigh University in
Bethlehem, Pa., and the University of Wisconsin offer spring break "service"
trips.

Gemma Kite, a 21-year-old Lehigh junior, is in Brunswick, Ga., for spring
break this week, helping build a house for Habitat for Humanity.

"It's so much fun. We're working outside in the sun," Kite said.

She said many students see spring break as "your chance to go wild and crazy
in a different country where no one's going to know you." Kite admitted
those trips have a certain appeal, and she hopes to take a more
party-oriented vacation next year.

"I like to have my fun," Kite said.

___

"Roger Long" wrote in message
...
All I can say is that I know of at least one case where it has been
done very successfully in way, way, less time than I've been following
your posts on the subject.

--

Roger Long