buying a boat w/o "buyers" broker & other ?s

[faithab]

We are going to be buying a used boat. We thought it might be best to contact the listing agent for the boats we are interested in thinking that s/he would be able to work with their commission a bit to bring down the coast of the desired boat more than if we brought in our own broker who would claim 5 percent of the sales price as a comission. Is this a good idea? Or would there be a conflict of interest in that the listing agent would not really be working for us but for the seller (or, in reality, themselves since they would want to see the sales price be the highest possible so they get a good comission)<br /><br />Also - How long a period can we put into the contract before closing? 90 days? We had a contract once with a 30 dy. closing and that was fine but we need more time now as we'd like to sell our boat before closing on a new one (althoug it is not absolutely necessary).<br /><br />Thank you for your advice. Faith

 

[Reel Poor]

Re: buying a boat w/o "buyers" broker & other ?s

I would recommend going to the listing dealer/broker with your offer. He should present your offer to the seller. Then they/owner decide to accept or decline your offer. It shouldnt be his/broker decission whether or not to accept your offer.<br /><br />30 days is normal as is a 10% commission to be paid by the seller.

 

[waterone1@aol.com]

Re: buying a boat w/o "buyers" broker & other ?s

If you already know of boats you want to look at and make an offer on, I don't see the need for a "buyers broker". The seller has already signed a contract with the broker and has already agreed to pay commision (usually 10%). It would be rare for the broker to drop his commision, however the seller could always drop his asking price or may already be willing to accept a lower offer.<br />This time of year you might get someone to accept a 90 day contract, durring the summer months that would be difficult. Perhaps it's time to agressively sell your boat before you put offers in on your next purchase.

 

[arks]

Re: buying a boat w/o "buyers" broker & other ?s

Originally posted by waterone1:<br /> If you already know of boats you want to look at and make an offer on, I don't see the need for a "buyers broker".

I agree. IMO a broker serves no purpose except to suck money. And that includes a selling broker. There are plenty of boats for sale privately, but it's your decision to look at brokerage boats if you want. I haven't needed a broker in 28 years of boating.<br />The only person you need to represent your interests is a marine surveyor. He can help you make an offer based on the condition of the boat. A surveyor is worth every penny spent (unlike the broker). I wouldn't even consider making an offer without a complete pre-purchase inspection.