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Old 06-01-2016, 16:14   #31
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Re: 1st purchase of used vessel

If you are a first time boat buyer, find yourself a great broker because he/she will, in order of importance:
1) help you figure out what you want in a boat and why;
2) provide you with a wide range of options that may satisfy your need;
3) steer you to good buys and away from bad ones;
4) walk you through all of the processes to be sure that the boat is what it purports t0 be;
I had such a broker over a more than 10 year period and I would never consider another sale or purchase of any boat without consulting him. Do yourself a facor and get good help making a life altering series of decisions
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Old 06-01-2016, 16:25   #32
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Re: 1st purchase of used vessel

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Originally Posted by Joyful Noise View Post
If you are a first time boat buyer, find yourself a great broker because he/she will, in order of importance:
1) help you figure out what you want in a boat and why;
2) provide you with a wide range of options that may satisfy your need;
3) steer you to good buys and away from bad ones;
4) walk you through all of the processes to be sure that the boat is what it purports t0 be;
I had such a broker over a more than 10 year period and I would never consider another sale or purchase of any boat without consulting him. Do yourself a facor and get good help making a life altering series of decisions
what he/she said.
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Old 06-01-2016, 16:41   #33
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Re: 1st purchase of used vessel

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Originally Posted by deltaten View Post
What? No boats available in Florida?
One of the major requirements in making the decision on my first/last/only boat was location. If I could not get it to home port alone, in reasonable time and condition; it went off the list.

I "self" surveyed and did the negotiations. Paid cash. Stayed on budget. "Sight unseen"?? No way! I suppose that IF a boat was available aka huge discount (for some reason) that it was still a bargain AFTER a complete refit..mebbe worth persuing?

YMMV, after all, it depends on use, placement and your tastes and budget.


Lots of boats in Florida if your standards are low enough. I ended up buying in Norfolk Va. I found the boats up on Chesapeake Bay were in much better condition and cost about 20% less.
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Old 06-01-2016, 17:00   #34
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Re: 1st purchase of used vessel

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dead wrong. have you never contacted a real estate agent when moving to a new town? do they not go through the multiple listings to find you several houses in your price range?

when i last called the broker about a boat he had listed he said come on down and i will have researched other boats that i might be interested in. by the time i got to his office he had two other boats listed by two different brokers all arranged for us to see. i ended up buying one of the other boats on which he shared the commission happily. he knows he can count on me ringing him up next time i'm in the market. i'll call him even before bothering to look at what's listed because if he doesn't have what i want he'll find it somewhere. he knows i'm not ready to move up yet but he knows what i'll want when i am and he calls me when something comes in that i might like and offers to show it to me even knowing he won't sell that particular boat to me unless he still has the listing a few years down the road. sometimes i waste his time, sometimes i don't but i do like kicking dock fenders when the mood strikes me. i've referred several others looking to buy, especially first timers and nobody has been disappointed.

more often than not as it is with real estate agents, boat brokers end up splitting a fee with another agent who had the listing. in today's market, boat brokers don't need sellers. they've got tons wanting to dump their boats. what they need is buyers and they'll work their butt off for a potential buyer in order to not lose him to a competing agent when even half the commission becomes a crap shoot.

I'm still not sure what you're disagreeing with. If he was showing you other agent's listings he was doing it as your agent. That's why he was able to split the commission. And I'm still not sure what this has to do with the discussion regarding whether it makes sense to assume that a buyer will save 5% by not engaging an agent because the listing agent will reduce his commission.
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Old 06-01-2016, 17:21   #35
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Re: 1st purchase of used vessel

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I'm still not sure what you're disagreeing with. If he was showing you other agent's listings he was doing it as your agent. That's why he was able to split the commission. And I'm still not sure what this has to do with the discussion regarding whether it makes sense to assume that a buyer will save 5% by not engaging an agent because the listing agent will reduce his commission.
sure if you want to say that an agent that i call is MY agent that I'VE engaged to find the boat i want even though i won't be paying for his efforts then we agree. he has a right to half of any commission fee paid by the seller even though he did not list the boat. the seller's agent has a right to the other half.

i've never heard of a boat buyer or a home buyer paying a 5% fee or any fee to an agent to buy a home. i know that buyers of high end aircraft often hire experienced consultants to do their looking for them and i suppose the same might be true of high end mega yachts but even there the seller always pays any commission. at closing the buyer has certain fees to be paid besides the remainder of the price less deposit which is in escrow but those amount to taxes and licensing fees for the most part but i've never heard of a buyer paying commission fees.
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Old 06-01-2016, 17:37   #36
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Re: 1st purchase of used vessel

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sure if you want to say that an agent that i call is MY agent that I'VE engaged to find the boat i want even though i won't be paying for his efforts then we agree. he has a right to half of any commission fee paid by the seller even though he did not list the boat. the seller's agent has a right to the other half.

i've never heard of a boat buyer or a home buyer paying a 5% fee or any fee to an agent to buy a home. i know that buyers of high end aircraft often hire experienced consultants to do their looking for them and i suppose the same might be true of high end mega yachts but even there the seller always pays any commission. at closing the buyer has certain fees to be paid besides the remainder of the price less deposit which is in escrow but those amount to taxes and licensing fees for the most part but i've never heard of a buyer paying commission fees.
Excellent, we agree! The buyer does not pay the listing broker's commission. If the buyer engages a broker to represent him the buyer does not pay that broker's commission. If the buyer does not engage a broker to represent him that does not mean that the listing agent will reduce his commission & the seller will pass that reduction on to the buyer.
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Old 06-01-2016, 18:27   #37
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Re: 1st purchase of used vessel

I'm a Florida licensed broker and I love working with first-time buyers. I am also a sailor and sailboat owner (some brokers only know about powerboats). The most important part to all this is to get a survey and mechanical inspection from reputable folks. Boats FSOB are not necessarily less expensive than broker-listed boats as has been talked about above. A broker can also help you establish fair-market-value because we have software access to that information about boats that have sold (like MLS in real estate.) Florida and California are the only two states that require brokers to be licensed, if that means anything to you. I'm happy to give free advice, call if you like. At the end of the day it's all about relationships with people, good, bad, and even people who are non-boaters
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Old 06-01-2016, 18:34   #38
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Re: 1st purchase of used vessel

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I'm a Florida licensed broker and I love working with first-time buyers. I am also a sailor and sailboat owner (some brokers only know about powerboats). The most important part to all this is to get a survey and mechanical inspection from reputable folks. Boats FSOB are not necessarily less expensive than broker-listed boats as has been talked about above. A broker can also help you establish fair-market-value because we have software access to that information about boats that have sold (like MLS in real estate.) Florida and California are the only two states that require brokers to be licensed, if that means anything to you. I'm happy to give free advice, call if you like. At the end of the day it's all about relationships with people, good, bad, and even people who are non-boaters
well said. indeed fsbo is not necessarily less expensive. in fact my experience is that most are dreaming about what the market is for their boats.
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Old 06-01-2016, 19:22   #39
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Re: 1st purchase of used vessel

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Originally Posted by dochip View Post
I'm a Florida licensed broker and I love working with first-time buyers. I am also a sailor and sailboat owner (some brokers only know about powerboats). The most important part to all this is to get a survey and mechanical inspection from reputable folks. Boats FSOB are not necessarily less expensive than broker-listed boats as has been talked about above. A broker can also help you establish fair-market-value because we have software access to that information about boats that have sold (like MLS in real estate.) Florida and California are the only two states that require brokers to be licensed, if that means anything to you. I'm happy to give free advice, call if you like. At the end of the day it's all about relationships with people, good, bad, and even people who are non-boaters
Can you tell us what the typical commission is for a listing & if it's normal to take just half of it if you don't have to split it with another broker? Also, does your software allow you to run statistical market analysis regarding median list price/sale price ratios. Absorption rates, months of inventory & median days on market would also be valuable information. There have been a lot of heated threads here full of anecdotal evidence & assumptions on whether this is a seller's market & what kind of offer is reasonable. Real statistics would go a long way towards giving everyone an idea of how healthy the boat market is.
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Old 07-01-2016, 04:32   #40
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Re: 1st purchase of used vessel

Bought and had my first boat shipped sight unseen. Spoke to the fine older gentleman on the phone and just felt right. He was actually leaving the province the following day and even signed and faxed the bill of sale so a trucking company could pick it up all prior to me mailing him the cheque. Said he would have his neighbour check his mail while he was away. Still stay in touch with him.
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Old 07-01-2016, 05:47   #41
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Re: 1st purchase of used vessel

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Bought and had my first boat shipped sight unseen. Spoke to the fine older gentleman on the phone and just felt right. He was actually leaving the province the following day and even signed and faxed the bill of sale so a trucking company could pick it up all prior to me mailing him the cheque. Said he would have his neighbour check his mail while he was away. Still stay in touch with him.
very cool. i've done things like that, on a much smaller basis, and it's quite satisfying even beyond the actual transaction. good when your gut gets it right.
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Old 07-01-2016, 07:49   #42
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Re: 1st purchase of used vessel

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Bought and had my first boat shipped sight unseen. Spoke to the fine older gentleman on the phone and just felt right. He was actually leaving the province the following day and even signed and faxed the bill of sale so a trucking company could pick it up all prior to me mailing him the cheque. Said he would have his neighbour check his mail while he was away. Still stay in touch with him.
I looked at a Drabscombe Lugger a few weeks ago. Looked pretty good in the pics online & the guy said it was in great shape. Another example of don't believe the pictures. If I had bought it sight unseen I would have a major project instead of having fun. This was not an anomaly. I've looked at a lot of boats that were reported to be in great shape & looked great in the pics but were rough when I got there. NEVER buy a boat without a thorough inspection & even then be prepared for surprises.
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Old 07-01-2016, 09:21   #43
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Re: 1st purchase of used vessel

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Originally Posted by faa50 View Post

Florida sales tax is approximately 6.5% on purchase with maximum sales tax of $15,000 on purchase. Local county tax officials are responsible for collecting the tax and will issue a decal to be affixed to the boat.

FL sales tax is 6%. Some (not all) counties have a surtax. If there is a county surtax it is between .5% - 1.5% of the first $5,000.

Note that Broward County does not have the surtax so buy in Fort Lauderdale if you want to save the $25-$75 surtax.

The maximum sales tax is $18,000 including the surtax if any.

Brokers are responsible for collecting the tax and are penalized if they do not.

Without a broker the buyer is responsible.
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Old 07-01-2016, 10:17   #44
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Re: 1st purchase of used vessel

Selling brokers represent the seller by contract. The commission is paid by the seller, however, as mentioned, it comes from the funds so you could say it inadvertently comes from the buyer also… it certainly could effect what the buyer pays as the seller has a bottom line after he pays the commission.
If you want to use a broker, just pick one and ask to see the boat. You don’t nee to pay or contract one.
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Old 07-01-2016, 10:28   #45
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Re: 1st purchase of used vessel

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Selling brokers represent the seller by contract. The commission is paid by the seller, however, as mentioned, it comes from the funds so you could say it inadvertently comes from the buyer also… it certainly could effect what the buyer pays as the seller has a bottom line after he pays the commission.
If you want to use a broker, just pick one and ask to see the boat. You don’t nee to pay or contract one.

Exactly. "Indirectly" would be the better word.

If the comment I made earlier doesn't make sense to you, Scout30, just ignore it. Using a buyer broker isn't a bad idea. If it helps to think of it as if the seller is paying for it because they're writing the check, that's fine.
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