How to Buy a Boat
First, you must research the different types of boats available. Then you must determine which type of boat is best for your purposes as well as your enjoyment as a boater.
- Search the different types of boats available. There are many websites that offer boats for sale. They also offer different categories of boats, so that you can pinpoint exactly which type will suit your needs. For instance, www.boatnationusa.com is one such site. In the boat search category, you can search for all types of boats for sale. Here you will find fishing boats, family cruisers, day boats, sailboats, as well as yachts.
- Educate yourself on the value of your purchase. www.nadaguides.com can be very helpful in learning the value of your boat. Sellers of boats seemingly always expect a better price for their boat than the actual value. www.nadaguides.com gives the buyer an upper h as well as in the deal.
- When negotiating the price of a boat, expect to pay 10% less than the asking price. This 10% difference is what is expected by most brokers as well as dealers.
- Upon striking a mutual deal on the price for a boat, expect to be required to give a 10% deposit to continue the deal. After a deposit as well as purchase as well as sales agreement has been executed, the buyer has right to an inspection, survey, as well as sea trial. It is recommended that the buyer finds the surveyor as well as pays for his/her interest to be protected.
- If all checks out on the boat as well as you are ready to move toward the closing, request copies of the documentation for the boats as well as hire a company to do a "clear title search." This ensures that you are receiving clear documentation on the boat. Note: if the seller's boat is financed, it may be necessary to make any closing check payable to the financing institution instead of the seller. If all documentation is free as well as clear of liens, proceed with the purchase.
- Always request copies of the seller's driver's license (or any other picture identification) along with the boat documentation. Some state registration offices will require this to register the boat.
- Make sure all documents that require notarization are notarized.
- Check out any brokers or dealers that you are doing your transactions through. Make sure they are in good st as well as ing as a corporation as well as as a broker.
- Please take the time to thoroughly inspect the boat you are buying.
- Never purchase a boat "sight unseen."
- Never allow the broker or seller to provide a surveyor.
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Added: Thu Feb 02 2006
