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(no email)
Date: Sat Apr 01 2006 - 21:30:04 EST
Hi Patrick,
Best wishes for a happy and lengthy cruising life!
As far as brokers are concerned I've found them to be very helpful. Naturally they like to sell boats but most I've worked with have been enthusiastic boaters also. I suspect many boaters are drawn into brokering by a desire to be around marina and boats - so you;re likely to run into all sorts of personalities - unlike car salespeople which tend to be clones of each other.
I bought my Catalina 27 thru a broker in Annapolis. The relationship starts by telling the broker what you're looking for - precise info if you know it and flexible info for the rest. Sounds like you;re gonna be wanting a boat designed and equipped for cruising - so explain that to the broker and if you have some specific brands in mind he'll/she'll probably round up a few for you to look at if you should you want to travel to a coastal location to look at a bunch of potential boats to purchase over a few days. The other option - once you understand *exactly* what boat you want - is to have the broker take a more direct involvement in the negotiations with the seller.
I think Bryan's point about his friend spending thousands of $$s traveling to look at boats is well put. Trying to do it all yourself can be an exhausting proposition!
I vote for getting as many brokers working for you as possible. Check the ads in Cruising World & Sail, etc. for brokers selling the type of boat you're looking for and request a "Inventory List" from each of them. You'll soon find a broker with several boats you consider potential "buyers" and let your broker know - he can advise you on how to proceed.
One thing - when you get to the point of actually making a written offer on a boat, the broker will have a form for making the offer. The form will contain many blanks for you or him to fill out. Most will be self explanatory. when you get to the section about "Contingencies Affecting the Offer" (or some such wording) put everything and anything in there you want to protect yourself. Everything from a satisfactory survey (you'll need a survey IMHO to protect yourself and the bank will require one (usually) and insurance always wants one) to obtaining satisfactory financing (satisfactory to you - no one else matters) to the color of the sellers eyes. You want to be able to bail out if you start getting a bad feeling about the deal for whatever reason. And again, the broker can help with contingencies. he;ll be getting 10% or so so make him work for it ;-)
Good luck and take care -
Sincerely,
Larry T (Catalina 27)
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----- Original Message -----
From: Patrick Harrington
To:
Sent: Saturday, April 01, 2006 12:47 PM
Subject: [world-cruising] To Broker or Not To Broker
Hello All,
I have been following this group for a while now as my wife Nancy and I are
planning to go cruising in about a year and a half. I have been incredibly
impressed with the members of this group, your knowledge, well-stated
opinions and capacity for civil debate. Although you know it not, you have
all had a great influence on me in my continuing journey from wannabe
cruiser to beginning cruiser. Thanks to all.
Within a few months, I am going to start looking for a boat in earnest and
would like to get your learned opinions on yacht brokers in general, what to
watch out for in a broker, whether to broker at all, etc. Most importantly,
I would be very appreciative of recommendations of good brokers you may have
first or second-hand experience with. Nancy and I currently live in Kansas
and are trailer-sailors (18.5' Laguna Windrose) and would like to purchase
our boat in the Florida or Gulf Coast area, or even East Coast or Caribbean.
Once we buy the boat, we will probably keep it at a marina on the Gulf Coast
(I have family in Mississippi) until we move aboard, and for a few months
after while we get used to the boat and perform any upgrades and
modifications necessary. Once we are comfortable with the boat and our own
abilities, we will begin a leisurely journey south to the Caribbean and
beyond to destinations as yet unknown.
Thanks,
Patrick and Nancy
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