The etiquette of buying or selling a boat

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andy59 said..
Take them for a test sail
honestly disclose any faults or issues with the boat
Agree on a price for the boat in the condition described in the contract subject to a survey excluding the already disclosed issues
include settlement date
Sign the contract and take deposit 10% usually
all survey costs borne by the buyer including any incidental damage
settle on settlement day with cleared funds.

Great advice Andy.
Seller can honestly disclose all faults directly to the buyer, before the buyer spends money on the survey. Disclosed faults are already known so no further negotiation on price. Buyer can make a more informed choice whether to go ahead or not witha survey. It's a win-win for buyer and seller.
Just another good reason to purchase boats directly from sellers without a broker skimming $$, and claiming they didn't know about faults if buyers survey uncovers deal breaking faults.
Cheers

What about if it is a long way from the vessel for sale to the slipway. For example I am looking at a yacht for sale in Port Douglas but the nearest slipway is Cairns, about 38NM away?

Yeh, thanks Don, that's what I thought as well. Appears there has been some politics happening along the waterfront. The council says the Marina has to supply slipway facilities but the Marina wants to use the slipway area for accommodation units so has closed it. There is talk of moving it further up the inlet but of course no-one knows when that might begin. Meanwhile I am trying to purchase a boat and need to have it surveyed and Cairns is the closest slipway. I suppose I just have to come to some agreement with the seller about who pays for the transfer costs if I end up not buying it.

Just to add to my previous post blokes that I work with that have had a holiday in Cairns rave about the place so perhaps I am just a grumpy old bloke

We we're leaving Hobart airport a few years ago and the person who does the random swabs asked us where we were going to and we told her we were going back to visit family and she commented that we were not going on a holiday but for a family visit so perhaps people who are going there for a holiday have a different mind set

Regards Don

Hi Spurgeon

On yacht hub there is a Adams 10 for sale in Port Douglas that is shown in slings hanging from a crane

I see that there is a crane hire company in Mossman www.kch.net.au/crane-hire-mossman.html and in their photo gallery they show a boat being lifted
so I don't suppose that is a option instead of slipping it in Cairns

Regards Don

Don do you have a link for that Adams. I searched but came up with nothing.

I have bought and sold a number of small through to large boats ranging from $25k through to $225k over the last 10 years, all for personal use.

No agreement on price or even offer prior to a test sail. That is standard and I would not even offer on a boat unless i could feel how it sails running the motor. Yes you will be mucked around by tyre kickers and people just wanting a day out but that is reality. If you really want to sell the boat then deal with it. When i sold my last boat I even chucked in a cheese plate and a few beers during the test sail. If you make it a day to remember for them (particularly with a couple with both husband and wife present) then they are more likely to buy. Just pick a good day with the weather,. Recently I know of a race yacht that was bought with contract signed and large deposit paid, The broker suggested they do a local offshore race during the contracting period and the race was 30 knots upwind slog. New owner got to the destination and got on a plane never to be seen again, lost his deposit and some clothes. Boat took another couple of months to sell again.

Buyer pays all costs for survey and also organises the surveyor (so they are happy with independence). When selling i want to be present during the survey to answer questions so surveyors dont assume anything. Also dont think surveyors know their stuff. No one knows a boat as well as the owner.

If you use a broker be careful. I have had good and bad experiences. They will take somewhere between 3-8 %

The boat needs a comprehensive inventory and that is up to the seller. If its not on the inventory for sale then the buyer does not get it included. However that is why you need to be comprehensive and this is often a point for arguments on pick up when the such and such was not on board. Having it all written down also covers both of you.

I would get a lawyer to write up for contract (or even look over a brokers contract).

If a broker would not start a motor without a deposit then i would run away from that boat, there is something wrong with it or the broker.

I have sold my boat today after a test sail to the first person who looked at it.
Why, Some good photos, the right price and the right buyer.

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UncleBob said..

Bundeenabuoy said..
I have sold my boat today after a test sail to the first person who looked at it.
Why, Some good photos, the right price and the right buyer.

Which one did you sell?

Hi Uncle Bob,
I sold my 23 ft Southern Cross (Miss Cross) on the mooring at Gwawley Bay Taren Point for $4500.
I have sold two shares in my Swarbrick 26 (Sea Ya) for $7000 each, the asking price.
I am expecting to sell one more share to a sailor and keep the fourth for myself.
It great to see these two new partners enjoying themselves.