How do I find a broker? - Page 2

clubjack · 21-10-2008, 07:47

Hi Kevingy

I just bought my cruising cat using Mike Carlson at Catamarans Company. There were some tricky items to the sale, most notably a drydock owner that the seller had a bill with, and some confusion with how the monies were to be distributed. To make a long story short, my boat was arrested and a lien put on it by the drydock owner, after the sale had gone through.

Catamarans.com paid the drydock owner, and will go after the seller for unpaid bills, leaving me to go cruising. That's what you want from a broker. So go with a reputable company that will stand in when things go awry - no matter whose fault it was in the first place.

What this has shown me is that even when a vessel is guaranteed free and clear of liens, a lien can be registered for the seller's debts even after the sale had gone through. When this happens, you'll be glad if you had a broker on your side with a reputation to protect. You can reach Mike at 954-309-1255.

Fair winds

First Mate · 22-10-2008, 18:01

Here's a broker tactic we've seen twice in a row on different boats. We view the boat. We don't make an immediate offer. The broker tells us that there is a foreign buyer flying in to look at the boat. Several months later, the boat hasn't sold - i.e. still on Yachtworld.com.

Do they think we'll suddenly make an offer if a foreign buyer is on the hook? Makes me lose respect for the broker when they play games.

We were about ready to pick this broker to help us when he told us someone was flying in from South Africa to look at the boat. It was like hearing a gong.

kevingy · 28-11-2008, 15:15

There were a couple other pieces of information Ed gave me. I'll throw them out here for discussion if nothing else.

1. On average, in his experience, the final sales price is only about 10% of the YachtWorld.com list price. At most, he's seen about a 15% difference. Reports made in this forum of a 30%-50% discount are over-stated.

2. For the most part, a broker doesn't know of any boats for sale other than those listed on YachtWorld.com. (The YachtWorld.com data source is a marine MLS.) Occasionally, brokers know someone who is getting ready to sell, but haven't pulled the trigger yet. From what he said, the buyer is really looking for thier own boat and just uses a broker for information and to complete the transaction. I assume that leaves the buyer, not the broker, to walk docks and scour boatyards.

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21-10-2008, 07:47	#1
clubjack Registered User Join Date: Feb 2008 Boat: Norseman 400 - Feng Shui Posts: 5	Hi Kevingy I just bought my cruising cat using Mike Carlson at Catamarans Company. There were some tricky items to the sale, most notably a drydock owner that the seller had a bill with, and some confusion with how the monies were to be distributed. To make a long story short, my boat was arrested and a lien put on it by the drydock owner, after the sale had gone through. Catamarans.com paid the drydock owner, and will go after the seller for unpaid bills, leaving me to go cruising. That's what you want from a broker. So go with a reputable company that will stand in when things go awry - no matter whose fault it was in the first place. What this has shown me is that even when a vessel is guaranteed free and clear of liens, a lien can be registered for the seller's debts even after the sale had gone through. When this happens, you'll be glad if you had a broker on your side with a reputation to protect. You can reach Mike at 954-309-1255. Fair winds

22-10-2008, 18:01	#2
First Mate Registered User Join Date: Jun 2008 Location: Central Florida for a short time Boat: shopping for a bluewater cruiser Posts: 230	Here's a broker tactic we've seen twice in a row on different boats. We view the boat. We don't make an immediate offer. The broker tells us that there is a foreign buyer flying in to look at the boat. Several months later, the boat hasn't sold - i.e. still on Yachtworld.com. Do they think we'll suddenly make an offer if a foreign buyer is on the hook? Makes me lose respect for the broker when they play games. We were about ready to pick this broker to help us when he told us someone was flying in from South Africa to look at the boat. It was like hearing a gong.

28-11-2008, 15:15	#3
kevingy Registered User Join Date: Aug 2008 Location: Howey in the Hills, Florida Boat: Catalina 22 Posts: 75	There were a couple other pieces of information Ed gave me. I'll throw them out here for discussion if nothing else. 1. On average, in his experience, the final sales price is only about 10% of the YachtWorld.com list price. At most, he's seen about a 15% difference. Reports made in this forum of a 30%-50% discount are over-stated. 2. For the most part, a broker doesn't know of any boats for sale other than those listed on YachtWorld.com. (The YachtWorld.com data source is a marine MLS.) Occasionally, brokers know someone who is getting ready to sell, but haven't pulled the trigger yet. From what he said, the buyer is really looking for thier own boat and just uses a broker for information and to complete the transaction. I assume that leaves the buyer, not the broker, to walk docks and scour boatyards.