BOATING TIPS at www.BoatsMiami.com

1) Presentation of a formal contract of "Offer to Purchase," with a 10% deposit from buyer.
2)Negotiation to an acceptable selling price by both parties(Buyer and Seller), whereas both parties sign the acceptable contract.
3) Buyer(at his own expense) shall then implement his option to perform a survey on said vessel, both hull/mechanical/electrical and/or engine/genset surveys. These survey should be performed without undue delay. The expense to the seller is in most cases the fees for the captain and the fuel for sea trial as well as the run to the yard for haul out inspection.
4) The buyer, upon receiving his survey results, then assesses the necessary items in need of service and/or repair. ALL surveys will have 'items in need'(please refer to the "Facts About Surveys" page as to what is considered relevant and what is not to regarding a request for a price adjustment), but let's face it, it is a used boat and some things are just normally to be expected.
5) Signing of an "Acceptance of Vessel" by the buyer, spelling out any survey items that are requested to be addressed if necessary(or a "Rejection of Vessel," canceling the deal if the results of survey are catastrophic!)
6) Negotiation(between buyer and seller) of any survey items found, if so deemed necessary. If survey adjustments are agreed upon after said negotiations, both parties shall sign the amended "Acceptance of Vessel" form in preparation to close on the deal and transfer ownership documents. Please remember that during these negotiations(both buyers and sellers alike), that the main reason both parties have gotten to this point in a deal is for the purpose of CLOSING it, not making it fall apart. I see too many deals come unglued at this stage, mostly because of a 'battle of egos.' Buyers note this....after you pay the surveyors and the haul out bills, assess the time invested to go this far, and go home without the boat(and maybe come to the same end result on the next boats as well) you liked enough to put your hard earned cash on the line? It doesn't make sense then to be expectant to get all the items resolved, and expect to do a little yourself if necessary. And you sellers....if there are LEGITIMATE items on your boat in need of attention, be acceptable to make good on such in terms of repairing it yourself (whether by yourself or paying a mechanic of your choice), or offering a price adjustment to allow the buyer to repair it himself. Always remember this....if you are a Buyer today, you will be a Seller somewhere in the future, and the same is true in reverse.
7) Closing, consisting of all funds transferring(via wire transfer, and/or Cashier's checks), signed-over and notarized(if required) ownership papers(titles, bills of sale, etc...).

Try to establish a good rapport with a broker you find to be knowledgeable, honest and who sincerely shows concern for your best interests and in helping you find what you seek. Be honest with him regarding your price range, don't "save a little extra just in case." If you give him your realistic limits, he may not exclude some otherwise desirable boats because you gave him incorrect information.
Ask yourself this simple but important question ...WHY DO YOU WANT A BOAT? You should look for a boat that most meets the answer to this question. You would be surprised at how many people I see purchase the wrong boat, only to end up selling it and having to start all over. (That is, if they have the heart to do so)
If FINANCING is in your plans of purchasing, then it is wise to get a finance approval, prior to finding the right boat. This not only allows you to know your spending limits ahead of time, lock in an acceptable finance rate (if the price drops, prior to closing, you can always have the rate lowered, but never get increased), and most importantly, go into the deal with the seller having no concerns of your ability to be financed and ultimately conclude the purchase.

NEGOTIATING: Every buyer wants the lowest price, and every seller wants the highest, so what do we do? We are reasonable on both ends, that's what we do! There are several books of values on pre-owned boats, BUT THEY ARE NOT CUT AND DRY. Most of the books allow for additional value and/or reduction value, based on condition and market area. You will find that most books are somewhat compatible in their pricing, but on occasion you'll find vast differences in certain model/year combinations. Here is where if you chose the right broker he will advise you if the particular boat you are negotiating on, is an acceptable valued for the money paid. To get an idea on book values check the N.A.D.A book value. (You can find a link in our "Links" page)

When putting your boat up for sale, you know what you should do to it, to prepare it...but do you??
ASK YOURSELF THESE IMPORTANT QUESTIONS:
"WOULD I BUY THIS BOAT IN THE CONDITION THAT IT'S IN?".
"WOULD I PAY NEAR THE PRICE THAT IS BEING ASKED FOR IT?"
"IS IT PRICED WITHIN REASONABLE BOOK VALUE AS EQUIPPED AND IN THE CONDITION THE BOOK ALLOWS FOR THE GIVEN PRICE RANGE?"
"WHAT ARE ALL THOSE LITTLE THINGS THAT ARE WRONG WITH MY BOAT, THAT ARE IN NEED OF FIXING, ALTHOUGH I HAVE LEARNED TO LIVE WITH THEM , AND FORGET THAT MY BOAT IS NOT AS PERFECT AS I THINK?"
"WILL THE NEXT OWNER LEARN TO LIVE WITH THOSE SAME PROBLEMS OR WILL THE SURVEYOR BE COMPETENT AND FIND THESE ITEMS CAUSING DIFFICULTIES IN THE DEAL?"

When you are equipping your new or recently purchased used boat, remember not to rush into rigging everything so quickly, adding all the latest equipment and gadgets. Take a little time and you'll find that you will arrange things in a more useful manner as you get the feel of your boat. Things that sound like a great idea immediately, sometimes change importance in retrospect.

CARE OF YOUR BOAT: IS OF UTMOST IMPORTANCE TO MAINTAINING FARE VALUES FOR RESALE. When you buy your boat, you have a SURVEY, use this survey! Use it as a guide to learn about your boat. I'm not saying as I have said many times before in other areas of this site...it is not the seller's responsibility to fix any little minimal item the surveyor says is in need, what it says is that the boat needs it, that's all. It's easier to maintain a well kept boat than a boat that has items left known but unattended. It is constant maintenance in the form of keeping all surfaces of machinery and engine room in clean condition, lubricating items necessary, applying rust inhibitor to any exposed metal surfaces as well as electrical connections below decks. Not to mention normal exterior and interior maintenance such as; polishing, waxing, cleaning of bright work and any wood finishing as necessary.

IS THE BOAT YOU WANT COMPATIBLE WITH YOUR GEOGRAPHIC LOCATION? Things such as draft ( minimum depth needed to float the boat) can affect your decision in areas of shallow waterways, as well as the beam (width of the boat) that your dock or pilings will accommodate . For those who will choose to keep their boat in some kind of a lift, must worry about keeping the overall weight within given limits.

When searching for a boat, be sure you have a dock to keep it at. Check with local marinas of your choice, verify availability of slips in case you need one.

BE SURE TO ENJOY YOUR PURCHASE!! Why, do you ask? because I see too many people forget that they are buying the boat for recreation and enjoyment. Let it be fun from the start, and I can assure you it will be so for years to come.

We all wish that the first buyer to look at your boat for sale falls in love with it, feels they must have it, and then does purchase it. There are several things that can be done, not to assure this scenario, but to at least make it more possible. The following are a few suggestions I have to make your boat sell faster, and hopefully for the strongest market price possible.
These tips are as follows:

1) We all accumulate many items we don’t normally use in our boats regularly. They fill all storage areas, and sometimes overflow into the cabin areas and living spaces as storage space lessens. I strongly suggest leaving the boat as clutter free as possible, as well as removing any unnecessary items in the cabin and/or living areas (cockpit storage areas included), as well as in storage spaces within the boat. Prospective purchasers should see the storage spaces, ‘space’ being the key word here, so that they can visualize what they will put in them themselves. Full storage compartments make them look smaller, and therefore less desirable.

2) Decorate your boat’s interior with some accessories like dried flower arrangements, statuettes, decorative baskets, decorative towel sets in the head compartments, basically just as you would your home.

3) A boat kept clean and well presentable is extremely important. Nothing kills a potential sale quicker than a dirty boat, either the interior, exterior, or both. Keep your boat clean, and if you don’t have time yourself, then hire one of the many cleaning services and arrange at least a good cleaning of the exterior twice a month. You would be surprised at how many people just don’t want to hear, “All it needs is a little detailing and polishing, so just look right past that, you can do it yourself after purchasing it!”. This is not what you would want to hear, and rest assured, most others don’t either. A good broker can possibly get around it, but why throw negatives into the deal before we even have one? Always consider a detailing at the time of listing your boat, period. And don’t forget the engine room. Rust and corrosion spots on different components in the engine room? Wire brush them and touch them up as necessary, as this is an easy and inexpensive thing to do, and will definitely improve the chances of a potential buyer making you an offer.

4) Many people use their boats while for sale, and for the most part on the weekends. This is also the time when most buyers have the time to shop. Of course it is your boat and you have every right to use it as you wish. I ask that if this is your situation, that you notify me each and every time you plan on using your boat (or if it is going to a yard for service as well). Making an appointment with a potential buyer and finding the boat missing when we arrive to where the boat was supposed to be can really upset them, as they feel I have wasted their valuable time. Sometimes, there will be no second chance given. Bottom line, it is in your best interest to notify me when your boat leaves it normal location.

5) The same holds true for availability of keys. Keys must be kept readily available, and preferably a set left somewhere hidden on the boat, as at times, last minute showings do occur and it is imperative to be able to accommodate them.

6) There are always little items here and there on most of our boats that we learn to live with and don’t consider a big deal. We tend to forget about them. Potential buyers see these items as neglect, whether there are or not. If a deal is made and the boat surveyed, these items, no matter how trivial, make the survey look a lot worse than it is, and if the potential buyers are new to boats, it can assuredly break the deal and cause them to reject the boat. If a light bulb is out, replace it. If carpet is frayed on the edges, trim it clean. If carpets need cleaning, do so. If a switch is broken, fix it. If a hinge is loose, tighten it. If your bilges are dirty, clean them. If you have a minor oil leak anywhere, FIX it. If your cockpit vinyls are worn and torn, replace them (nothing gives a worst first impression that deteriorated seats and trim) to make the boat look fresh.

7) Keep your boat’s bottom clean, as growth on the hullsides looks terrible. At $1-$1.50/foot to clean it, it is inexpensive to do it at least once a month. If your bottom paint is wasted and in need of re-painting it, then strongly consider doing so as it does make the boat show much better.

8) If your boat’s finish is somewhat dull, or especially if the gelcoat is ‘chalky’, then the investment of a professional compound and wax will assuredly make a huge difference, not only in the speed in which a sale is procured, but in the dollars it will sell for as well.

9) Mechanically, one deal killer is a boat with engines not turning up to their proper full throttle RPM. This has nothing to do with your cruise RPM. Most boaters never run their boats wide open, but rest assured that any surveyor will during the sea trial. You should run your boat full throttle, with a clean bottom and moderate load to check your RPMs. If your RPMs are low at full throttle, you not only burn more fuel, cruise slower at the same cruise RPM, and do damage by ‘lugging’ the engine, than if was up to manufacturer’s recommendations. Beside that, running full throttle occasionally is actually good for your engines, as it cleans carbon from your cylinders and is good for the internal bearings as well.

10) If you have not been religious about your oil changes on both your engines and transmissions or outdrives (outboard owners, your lower unit oil changes), as well as generators, then I suggest doing so now. Most surveyors take oil samples from each of these, and if the oil is old, you can get false readings of elevated contaminants such as moisture from condensation showing as water in the oil (especially common in old transmission fluids), as well as other elements. The boat should have time run on the oils after replacing them as well, so as not to make a potential buyer or a surveyor think it was just performed to hide something, as not only do I feel strongly against that unethical practice, I am dead set against it. An oil analysis will detect if it is freshly changed oil or not, so there is no hiding it, period.