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Old 28-02-2014, 11:29   #121
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Re: Need a cat, <$200K, 38-42ft, help

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I respect that sentiment more now than I did when I started shopping for cats. Even moreso - the impact of good maintenance, continual upgrades, and proper outfitting for cruising. ..
Yeah, that's my point. No one has any idea if a listed boat has a delamination problem until someone makes an offer and springs for the survey. And the truth is that if you get a lazy surveyor, not even then.

When it comes to preowned cored hull boats, price should be secondary, as its always been about the owners regimen of maintenance.

I'd be more impressed with the guy who is meticulous with his boat and not anxious to sell to just anyone, and really suspicious of an anxious owner with the boat which is way below market price.

Just sayin ....
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Old 28-02-2014, 11:37   #122
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Re: Need a cat, <$200K, 38-42ft, help

Here Here... well said.

I like to look at a list of "recent" upgrades. Buying a boat that has had 1 or 2 upgrades/replacements a year for the past several years is a good indicator of a diligent owner. We purchased a 40 ft mainship to live on that had this. It was quite a shocker to see a long list of items, but in reality... ongoing maintenance and upgrades will look like that.
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Old 28-02-2014, 16:05   #123
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Post Re: Need a cat, <$200K, 38-42ft, help

People were asking about my boat progress, I made a fairly detailed post on my site about it. Warning, it's long.

Cruising Catamarans Under $200K
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Old 28-02-2014, 16:26   #124
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Re: Need a cat, <$200K, 38-42ft, help

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Is a BUC value really relative for 10+ year old boats?
If you are financing BUC value matters.

This is why I asked if anyone has used it in negotiations with a seller.
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Old 28-02-2014, 17:07   #125
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If you are financing BUC value matters. This is why I asked if anyone has used it in negotiations with a seller.
I disagree as a broker who has do e a fair amount of financed deals. The surveyed value is what marine lenders look at for the most part. BUC numbers tend to be quite a bit off of what actual fair market value is on a cruising boat.
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Old 28-02-2014, 17:17   #126
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Re: Need a cat, <$200K, 38-42ft, help

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I disagree as a broker who has do e a fair amount of financed deals. The surveyed value is what marine lenders look at for the most part. BUC numbers tend to be quite a bit off of what actual fair market value is on a cruising boat.
Thanks for this. I just ran 9 boats through BUCvalue and they were right in line with the list prices on yachtworld

I did 2002, 2004 & 2007 Lagoon 380, 2002, 2003 & 2004 Lagoon 410, 2007 Mahe 36, 2003 & 2007 Lavezzi 40.
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Old 28-02-2014, 18:41   #127
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Re: Need a cat, <$200K, 38-42ft, help

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Thanks for this. I just ran 9 boats through BUCvalue and they were right in line with the list prices on yachtworld

I did 2002, 2004 & 2007 Lagoon 380, 2002, 2003 & 2004 Lagoon 410, 2007 Mahe 36, 2003 & 2007 Lavezzi 40.

I agree with FLLCatsailor, especially with older boats.

It seems the older the boat is the further BUC is from the market value/ selling price. Older catamarans have been holding their value better than what BUC gives them.

I guess the cover stories on Cruising World and Sail magazines don't hurt!

Try looking up a 1994 Lagoon 37, for example, or even a 1999 Lagoon 380 on BUC and I think you will find them to be a bit off the market value.

If I remember correctly, BUC valued my boat around $80k (or less) five years ago. There hasn't been one sold for less than $115k since then.

BTW how did you run 9 boats on BUC, do you have a subscription to BUC? They only let me run 3 boats without a subscription. I'd like to be able to run more.

Bottom line if you are looking to finance -- As has been said prior, many lenders will look at BUC. I know mine did! A real PITA!

Marshall
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Old 28-02-2014, 19:50   #128
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Re: Need a cat, <$200K, 38-42ft, help

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Originally Posted by FLLCatsailor View Post
I disagree as a broker who has do e a fair amount of financed deals. The surveyed value is what marine lenders look at for the most part. BUC numbers tend to be quite a bit off of what actual fair market value is on a cruising boat.
Please educate us on what lenders use survey value instead of buc values and partial comps? I understand they wont finance unless survey is avg condition and at least as high as Buc but ???

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Old 28-02-2014, 20:08   #129
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Scott Financial and Trident Funding. I closed on an Intrepid this week, and the BUC value was 60% of the FMV on the yacht so the finance company used the survey for valuation.
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Old 01-03-2014, 03:47   #130
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Re: Need a cat, <$200K, 38-42ft, help

And they would have financed only putting 20% down if selling price was 30-50% higher than Buc? A Survey price can be anything you want the surveyor to put within reason

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Old 17-03-2014, 21:32   #131
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Re: Need a cat, <$200K, 38-42ft, help

It's not quite official, but I have the boat.

The larger story here is that I started with a $200K budget and ended up with something in the $150K range. And I started looking at smaller boats.

I ended up with a 2000 Lagoon 380, 98% of the way I need it to cruise, long-term. It wasn't easy, but I managed to get it at $150K. Owner's version, low-hours on Volvo's and all the necessities (and spares) onboard. Not bad.

The first part of the story: Cruising Cat's under $200K

The second part of the story: Used sailboats in foreign countries

The third part of the story: Lagoon 380 Sailing Catamaran
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Old 17-03-2014, 21:52   #132
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Re: Need a cat, <$200K, 38-42ft, help

Sounds like an awesome boat. Congrats.
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Old 18-03-2014, 09:35   #133
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Re: Need a cat, <$200K, 38-42ft, help

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Sounds like an awesome boat. Congrats.
Hope you're right, but I reckon only after a few months sailing will I really be able to make that call. From where I'm sitting, it seems to be a good deal on a good boat.

Cheers,
-Nate
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Old 19-03-2014, 06:57   #134
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Re: Need a cat, <$200K, 38-42ft, help

Every boat dollar spent will secure more than just its initial intended value. It's tuition for learning your new way of life.

The adventure begins. Fantastic.
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Old 19-03-2014, 08:02   #135
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Re: Need a cat, <$200K, 38-42ft, help

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Every boat dollar spent will secure more than just its initial intended value. It's tuition for learning your new way of life.

The adventure begins. Fantastic.
I like that. Good words.
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