It starts with a dream…

Where to begin…

When you begin the boat buying process, ask yourself the following questions:

  • Do I have the time needed to acquire new skills and care for a boat?

  • What is my budget?

  • What type of boating would I like to do?

  • Do I want a powerboat or would I like to sail?

  • Do I prefer gas or diesel?

  • How do I find the right Broker to assist me?

  • What size boat do I feel comfortable handling?

  • Will I be venturing to nearby harbors and islands?

  • Will I be sleeping onboard and if so, how often?

  • Will I be entertaining guests?

  • Am I willing to finance and how do I find a lender?

  • Can I afford 10% of the purchase price on annual maintenance?

  • Where will I dock the boat?

  • How many years do I intend to keep the boat? 

  • Who do I contact for insurance?

    The list of questions can be overwhelming. Need help answering these questions? I’d be happy to assist.

The boat buying process…

After you have found the boat of your dreams you are ready to place an offer. Your Broker will help you determine a reasonable offer price, set contingencies, and submit your offer. The Seller can either accept or submit a counter offer. Once a price is agreed upon and all parties have signed the ‘Offer to Purchase Agreement’, you are required to wire transfer a 10% refundable deposit to the brokerage escrow account. The standard contingencies are as follows: Financing, Marine Survey (the whole boat insides and out of the water), Sea Trial (on the water underway), Mechanical Survey (engine), Non-mechanical Survey(rigging if it is a sailboat). This is usually done on the same day. Your Broker will give you a list of recommended surveyors and you may choose your own. Once the surveys are completed you may renegotiate the price if you find significant issues. After completing the final negotiation process, you agree to purchase the vessel by signing ‘Final Acceptance’. Once this is signed, your deposit becomes non-refundable and the closing process begins. We work closely with a professional closing company who handles the title search, verifies loan payoff, transfer of ownership, and release of liability process. We hold your hand every step of the way.

For more information about the closing process you may contact Bernadine Trusso directly at Done Jenkins Maritime Documentation Services.

Selling your vessel…

Whether your ready for your next boat or getting out of boating completely, selling your boat can be a daunting process. The key to getting the most for your vessel is preparation. We can offer suggestions and come up with a marketing plan. The more you prep the more it will stand out among the other listings. Remove all personal affects from the boat and have it thoroughly cleaned inside and out. Repair any cosmetic eyesores. Have the engine serviced and repair any known mechanical issues. Organize service records and place in a binder for easy viewing. Use an accessible compartment for current safety gear (lifejackets, flares, airhorn, etc.) and another to display spare parts. For an extra touch think staging. A few nautical cushions, hand towels and bedding can go a long way along with a professional photographer.

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