TIPS FOR BUYING A USED BOAT

As a yacht broker, I have seen firsthand the potential pitfalls of purchasing a used boat. All too often I meet boat owners who thought they had scored an amazing deal, just to figure out later on the 'deal' cost them more than they had bargained for. While there are certainly many great deals to be had on pre-owned vessels, it's important for buyers to do their due diligence and take the time to ensure that they are making a wise investment. Here are some tips that I often share with my clients who are considering purchasing a used boat:

Get a Written Agreement: Once you have reached an agreement on price, be sure to get a written agreement that outlines the terms of the sale. This should include details of the specific boat like hull ID number, engine serial numbers, any warranties or guarantees, and any other relevant information such as closing dates, deposits, and who the buying and selling parties are. A 'Handshake Agreement' is not advised, when there is an absence of a written contract, it can be difficult to determine what was agreed upon if there is any disagreement or dispute. This lack of clarity can lead to confusion and potentially costly legal battles. 
 
Ask for Maintenance Records: A well-maintained boat is more likely to be reliable and free of hidden problems. Ask the seller about the boat's history of maintenance and repairs. Remember, invoices and receipts are vital to proving the history, and should be the only real proof for items that cannot be easily observed with the naked eye. 

Get a Professional Inspection: A professional boat surveyor can provide an objective assessment of the boat's condition, highlighting any potential problems or areas that require attention. Be sure to hire an accredited surveyor who has experience with the type of boat you are considering. Also be sure to include an out of water inspection where the surveyor can check the hull sides and bottom for any potential issues of delamination, or other structural issues. Inspecting the running gear prior to purchasing allows the opportunity to confirm the vessel is in a safe condition to head out on the water, which leads me to my next tip

Take a Sea Trial: A sea trial is an opportunity to test the boat's performance and handling in a real-world environment. Be sure to take the boat out in safe conditions and confirm the proper safety gear is on board. During the sea trial be observant of any irregularities, like excessive vibration or odd noises. When in a safe scenario, ask to see Wide Open Throttle RPM in order to confirm it is within engine manufacturer's suggested range, and know this information prior to leaving the dock. although it is not 100% fool proof, if it is operating within the correct range, most likely the boat is propped correctly and the powerhead is operating as intended, if there is any issues here at all and you are still interested, hire a mechanic to determine the issue and discuss options to fix. While it is important to be near the helm to see RPM, speeds and fuel burns, go ahead and spend some time as a passenger so you can see the boat from your potential guests eyes. It is very exciting to sea trial, but don't let your emotions get ahead of you.

Work with a Professional: Specifically someone who does this as their full time career and not a part time 'side gig'. A yacht broker is an expert in boat sales and can help you navigate the complex process of searching for and purchasing your next vessel. Additionally, a yacht broker can help take some of the stress and responsibility off your shoulders, allowing you to focus on other things while they handle the process from arranging inspections, verifying records, procuring contracts, and offering insight on potential concerns. 
 
By following these tips, buyers can minimize their risks and ensure that they are making a smart investment in a used boat. Working with a reputable yacht broker will provide additional guidance and support throughout the buying process.

If you are interested in working with a professional on the sale of your boat, consider working with Joe Papperman. 

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