Why Don't You Want to Sell Your Boat?

[boatsail]

friend bought a boat this morning....a hunter....seller wanted 7.5 or 7.9k...i forget which one.....buyer offered 4.5k seller countered at 5k, buyer said ok...they shook hands...deal done....he will be living aboard....

buyer friend of mine said he bought it because he wanted a boat that was comfortable and did not sail well. he did some research and found the hunter.....sorry for that one....just kidding....I actually love the boat...I thing it will be a great fit for him and being a friend of mine, I get to teach him how to sail! Can't wait. Always like sailing on different boats.

You should see the anchor on this thing. So tiny. I could use it for my dink. We have had talks about anchors before.

Really excited for him. You might be hearing from him later on the forums. I will be telling him to make an account.

[Lake-Effect]

Originally Posted by denverd0n

When you find the boat that you are seriously interested in, you want the broker and seller to know that. You don't want them to think that you've fallen in love with it, because then they may think you're ready to pay anything for it (remember, it's still just a business deal). But you do want them to know that you're serious.

Wise words. With any deal (boats or otherwise)... unless you're playing a head game, there's a point at which it's appropriate to give the other party a clear indication that you're serious. If there's trust and mutual respect, this point is often reached quickly, otherwise the direct route is required. In sales this is called closing.

I should also define 'serious'. As a buyer, I would define it as so:
- I think the seller is someone I can deal with
- I've seen enough of the boat that I'm reasonably confident it's OK, barring some hidden defect that can be managed by making the sale conditional on a survey
- I think there's a mutually acceptable price somewhere between the ask and the offer
- I can reasonably afford to pay this price
- I am prepared to move decisively and soon
(bonus - I know the maximum I'm willing to pay and I'm willing to walk if I can't get to this price)

So, if you can't check most or all of the above boxes, you ain't serious.

Re "messy" boats - in the lower price brackets, you don't often get fluffers gussying up the boat for the cover of Cruising World. Just the way it is. If you're a confident purchaser, and can see past the clutter to check for the basics, you can often score a great deal.

[seahag]

Originally Posted by Morgan Donor

Sea Hag - I sent you an email aking you if you were possibly interested in buying my boat. You haven't replied.

Are YOU part of the problem?

I didn't receive an email from anyone from here.

[rancher44]

Iam so tired of looking at boats with inflated prices and the owner says " I have had a lot of lookers and this is a great market to sale the boat so I am not going to lower my price" The boats have been on the market for at least a year plus.
There are so many boats out there I have been looking for all most a year for a cat .
Range 200-240K. I want a 42-47 Really like the Leopards .
I have looked in the BVI and after I make reservations to go see the boat the owner says on I for got to tell you theres this little problem and it goes down hill from there .cancel my flight and loose a couple hundred. Or I have been contacted by some on this site with stripped down boat high price been for sale for a while

[Dulcesuenos]

Heres where brokers can be useful. Sign a contract at a price, put a deposit, if seller screws you they are liable for covering your expenses, go see the boat if you like great, survey seatrial then renegotiate if need be or walk away. We did these steps on our boat were selling with no broker. Protects the sellers and buyer. Then use a letter of acceptance if all goes well.

[denverd0n]

Originally Posted by Dulcesuenos

if seller screws you they are liable for covering your expenses

I have never seen any clause like this in any sales contract. Were I selling my boat I would absolutely never agree to a clause like this. The seller is NOT responsible for covering your travel expenses to see the boat unless that is specifically written into the contract!

Yes, there are a lot of sellers out there who misrepresent their boats. Most of the time, after spending a lot of time perusing ads, and a little time actually looking at boats, you can figure out the clues and learn to recognize the dishonest sellers. Some obvious clues are when the ad includes pictures from a brochure, pictures that are ten years old, or pictures of a sister ship, but no current pictures of the boat that is actually for sale. Or the only pictures of the actual boat are from across the harbor, out of focus, that sort of thing.

Working with a broker you can ask the broker to get current pictures of the boat for you. If they won't, that's a HUGE red flag--both regarding the boat and the broker. Asking lots of specific questions about the boats condition and the maintenance that it has had can also alert you to the sellers who are trying to pass off a POS as if it is something else.

In the end, though, it is up to you to do the due diligence, weed out the junk, and find the right boat for you. Good luck!

[boatman61]

Every boat has 2 prices.. what the owner thinks its worth.. and what a buyers prepared to pay.. sometimes the difference is unacceptable.
I used to be Mr Nice guy honest seller.. and still folk would roll up and take the piss waving 50% of the asking price under my nose.. after saying it was what they wanted..
So these days if that happens there's no talking anymore...
I just lock up and tell them to Get the Flock Off My Boat *******

[Dulcesuenos]

Originally Posted by denverd0n

I have never seen any clause like this in any sales contract. Were I selling my boat I would absolutely never agree to a clause like this. The seller is NOT responsible for covering your travel expenses to see the boat unless that is specifically written into the contract!

Seen many sales contracts??? Who in their right mind would spend money on airfare, survey and haulout, travel, just to have a seller say ive changed my mind or selling for a better offer. And your out thousands of dollars, talk about putting yourself at risk. I did not say specifically travel expenses

[zeehag]

it is still a buyers market and values are still falling.
look farther and wider than merely brokerages, where the price aint right ever. good luck in your search.

[Cheechako]

Originally Posted by Dulcesuenos

Heres where brokers can be useful. Sign a contract at a price, put a deposit, if seller screws you they are liable for covering your expenses, go see the boat if you like great, survey seatrial then renegotiate if need be or walk away. We did these steps on our boat were selling with no broker. Protects the sellers and buyer. Then use a letter of acceptance if all goes well.

Never heard of this really. What does "if seller screws you ..." mean? everyone will have a different interpretation. The only way this could work (and even lots of luck with that) is if the seller said in writing something like the engine was brand new and it wasnt etc. Still... all contracts I've seen leave it up to the buyer to inspect the vessel to his/her satisfaction....

[scgilligan]

They decided to sell the boat because they never use it. That is why they cannot be bothered to clean the interior. Heck, I have seen some that have only 1 picture - Of the outside from 100 yards away..almost like they have driven by the marina and snapped it from their car!!
If you don't show me the inside, I assume the inside is trashed. Anything not in a photo makes me believe there is a reason it was avoided..something you don't want me to see.
I also hate all of these sites that do not tell you when the ad was placed..or updated. Some show the date and it is 2-3 years ago.!! Is the boat STILL for sale? No clue. Sometimes I have sent an email asking, and get no reply. Probably someone set up an email address just to accommodate this sale, and after it sold they abandoned the email address so they would not have to deal with inquiries anymore.
I think sites like sailboatlistings.com should have a setting where an ad is deleted after a certain amount of time unless it is updated by the seller regularly. How difficult can that be?

[Dulcesuenos]

Originally Posted by Cheechako

Never heard of this really. What does "if seller screws you ..." mean? everyone will have a different interpretation. The only way this could work (and even lots of luck with that) is if the seller said in writing something like the engine was brand new and it wasnt etc. Still... all contracts I've seen leave it up to the buyer to inspect the vessel to his/her satisfaction....

You agree to a price and enter into a contract the purpose of that contract is to protect you from spending money on survey sea trial and miscellaneous expenses only to have the seller decide they want to sell to somebody else or change their mind. Also if there is a broker involved the seller once entered into the contract becomes liable for the selling brokers expenses if they rescind on the signed contract. I am really surprused you guys havent seen this.i would never risk a 1000. Survey haulout etc on a large expensive boat without a contract protecting myself.

[Cheechako]

Originally Posted by Dulcesuenos

You agree to a price and enter into a contract the purpose of that contract is to protect you from spending money on survey sea trial and miscellaneous expenses only to have the seller decide they want to sell to somebody else or change their mind. Also if there is a broker involved the seller once entered into the contract becomes liable for the selling brokers expenses if they rescind on the signed contract. I am really surprused you guys havent seen this.i would never risk a 1000. Survey haulout etc on a large expensive boat without a contract protecting myself.

Ahh.... I see what you are talking about... no doubt about it, all the contracts say the seller cant walk away without expenses. However, once you ask for any change, even a $1 item.. he can walk. I thought we were talking about boat condition most recently.....

[Dulcesuenos]

No doubt theres always a way out for either side, sometimes you could spend 2k and decide its not worth it. And lose some cash anyhow. One buyer entered a contract here in key largo, they flew in, sea trialed, halfway thru the survey after haulout the seller got emotional said ive changed my mind. Now its back for sale. And he did cover the sellers expenses.

[rw58ph]

I thought this was, “Why don’t you want to sell your boat?’ Most of the replies have been about buying a boat. A buyer many also has to sell themselves to the seller. If a person can not afford to spend several hundred dollars on an in water value survey and/or come see the boat, don't bother the seller. The buyer should also be pre approved for the amount and should have the knwledge/expereince.

Couple of reason why a person may not sell their boat.

1) If they sold the boat where would a live? We have not decided where to live.
2) Maintaining the boat is sort of the persons hobby. I tend to putts with it. I would drive my wife crazier than she is if I did not have the Eagle to mess with.
3) They have invested money, time and themselves they are emotional tied to it. What would they do with the extra time and money?
4) Self pride in that they did/made that. From the bow to the stern, and the top of the mast to the bottom of the keel we have changed, up graded maintained.
5) If they did sell it, it will not be based on price alone as the person/couple would have to have the commitment to spend the money and time to keep up and maintain the boat. Not many boaters may have what it would take.
6) The boat is a get away. Being on the water beats being on the dirt most days.
7) People identity them with the boat.
8) The boat is paid off, so there is not need/rush to sell

So a buyer may have to be pre approved, and sell themself before a seller would spend very much time with them. If they started to knit picking can be a real deal breaker. If the seller says to a buyer, “I don’t think its the boat for you!” “It sound like you should buy a newer less maintenance boat!” “You don’t have the boating knowledge/experience, time and money” "Are you pre approved for the dollar amount?"