THE BASICS ON BUYING A BOAT

1. Decide what boat you want based on what kind of boating you will be doing and what appeals to you AND WHAT YOU CAN AFFORD. Remember there are costs for maintenance, storage, docking.

2. Research selling price. You can go to yachtworld.com to get an idea of asking prices and deduct 10-15% to determine the selling price. Hopefully, you will have already looked at similar boats and have an idea of what's available and prices.

Based on how much the boat sells for and condition of boat, determine how much you're willing to pay for it and make an offer. Start lower.

3. Once offer is accepted by seller, write up a contract  stating how much you are offering for the boat contingent on the results of a survey. A 10% deposit is customary. Also, the buyer customarilly pays for short-haul but everything is negotiable.

4. Locate the surveyor of your choice and coordinate a date and time with him, the seller, and the boat yard that will be hauling out boat for hull inspection.

5. Try to be present at the survey so that you can see first hand what the problems are with the boat and what the surveyor did and did not do.

6. Any significant problems found by the surveyor that you did not know about when you made your offer, are subject to re-negotiation with seller. Or you also have the option at this time to not buy the boat and you would be intitled to a refund of your deposit.

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