Making an offer on a boat
 

"sciman" wrote in message
ink.net...
The obvious is pending an independent survey, but are there other
things?

I would recommend contacting the insurance company you intend to use and ask
them what their requirements are. It is common for the insurance company to
require a survery by one of the people on their "approved" list. You can
save yourself a headache and possibly a lot of money if you use a surveyor
on their list to start with.


In today's market, assuming this is an average asking price, is
coming in with an initial bid at 80% too low?

Try it, the worst that can happen is they will say NO!

I am currently trying to sell a boat. A buyer came in way low, and I
countered just a bit below my asking price, and then they came back and
counter-countered at a much more reasonable amount and I accepted. I can't
blame them for trying! The sea trial I know will go fine, and I hope the
survey doesn't freak them out, and then I will enjoy the second happiest day
of a boat owners life!

Rod

Making an offer on a boat
 

"sciman" wrote in message
ink.net...
This is probably a pretty newbie question, but I have found a boat I like
at
a somewhat reasonable price. We are talking a 40FT boat that is 5 years
old
so this is a considerable investment. In my offer, what should I be
asking
for? The obvious is pending an independent survey, but are there other
things? In today's market, assuming this is an average asking price, is
coming in with an initial bid at 80% too low?


The market is very soft, I've read some of the other posts here stating that
80% might be "high" for a starting price. The problem is, the owner might
owe more than 80%, especially on a boat that's only five years old. He
probably isn't going to accept an offer that will require him to come up
with cash to sell his boat. It isn't the most ethical thing for a broker to
do but they will occasionally give you some information as to the buyers
willingness to negotiate the selling price. He will probably tell you
immediately if the buyer is willing to accept your low-ball offer, assuming
you make an offer with a deposit, i.e.., a serious offer. You might want to
look into some of the price guides out there to determine how close the
asking price is to "market value" With the right set of circumstances you
could buy the boat for 60% of asking price.
John Cairns

Making an offer on a boat
 

"sciman" wrote in message link.net...
This is probably a pretty newbie question, but I have found a boat I like at
a somewhat reasonable price. We are talking a 40FT boat that is 5 years old
so this is a considerable investment. In my offer, what should I be asking
for? The obvious is pending an independent survey, but are there other
things? In today's market, assuming this is an average asking price, is
coming in with an initial bid at 80% too low?

This is a real loaded question.

First thing, if your new to boats, trust me on this, you have no idea
what a used one is worth. You should look at any kind of "Blue Book"
publication to get some feel for what the boat is worth. Next, look at
local papers, broker listings, computer listings
("www.yachtworld.com") anything you can find to start to zero in on
what the boat should go for. Also, pay no attention to "replacement
cost", your not looking at a new boat here. Just because it cost lots
of money when new doesn't mean it's still worth a lot, most boats take
a beating in the first few years when it comes to resale. Try to find
out how long the boat has been for sale for, some boats, like sail
boats, average 2 years to sell (yes, that's correct). If it's been for
sale for a long time it may be over priced, need work, or be an odd
ball type of boat for the area (like a down east boat in Florida).
Find out how bad the seller wants to sell the boat, if it has to go
now you can save a lot of money. Is he selling the boat through a
broker? The boat's going to be priced higher to cover the brokers fee.

After you have done your homework (we're talking after several months)
you should have a good feel for what it's worth. Then make an offer
about 15 to say 20 % less than that, it gives you something to work
with. If the seller is firm on his price, and he's asking too much, do
yourself a favor, it's a boat, not one of your kids, don't fall in
love with it, walk away, come back in a few months, and keep looking
around. If you pay too much for it your going to regret it every time
you make a payment on it.

Making an offer on a boat
 

Dave wrote:

On 4 May 2004 09:39:06 -0700, (John) said:

If you pay too much for it your going to regret it every time
you make a payment on it.


You will regret anything that you paid too much for whether you make
payments or not.

If you have to make payments on it, you probably shouldn't be buying it.

That may not be true. We make payments on our boat, and we can deduct
the interest as for a second home. So a blanket statement to that
effect will not cover all the bases.

Of course it's also true that we don't have a mortgage on our house
which we have lived in for 30 years and is paid off.


grandma Rosalie

Making an offer on a boat
 

Also, What if payments are the only way to get a boat?

I have done them in the past, although I have paid mine off now, I would
finance again. Would take a hell of a boat though,,
but then there is that new 50er.............