Purchase Process with and without a Buyers Broker

[33RPM]

Hi. I’m new here and new to boat purchasing. We’re looking for a Ranger Tug 31 CB, about 10 years old. I have found three in my area of within a reasonable range of age, price and engine miles. Since I know the exact model that I want and I have three reasonably similar choices to choose from, I am wondering whether I really need to go through a buyer’s broker for this, or if instead if it seems reasonable to obtain a good surveyor, marine lawyer and escrow/closing company. I’ld appreciate any insights and any additional comments about stepping through the purchase process in the correct order.

 

[William Sanborn]

#1...Visit all the boats and review the options of each on your own. Make a choice of your favorite and do the sea trial, make your offer in writing with all conditions which should include an offer of a deposit (some brokers require a copy of a 10% check), if accepted then do the surveyor, and if good complete the deal. You need a plan in place to complete the purchase, Pay Cash, or Finance, and alert the seller to your plan so they can make plans to accept payment, which might include their need to make a pay off to transfer title.
I like to keep as few people involved, to limit the amount of commission I need to pay out, when I can do it myself. You will also want to check on Insurance and moorage, which could include a copy of the Surveyor Report.

 

[33RPM]

Thank you so much for the helpful outline of steps.

 

[Eagle 2]

For me, the previous records are a big one to know the history. I am primarily a DIY'er, so I don't have invoices, so I use the Yachtwave AP that I house all my services, photos, before and after, parts lists, and documents. It demonstrates an organized approach to a maintenance record. (Not affiliated, just a fan) I update as I go.

 

[33RPM]

Great tip! Thanks.