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Buying without a broker

Posted: Tue Jun 21, 2016 4:03 pm
by Bodach na mara
The owner of the boat I am looking at this weekend is not using a broker. This will save him cash of course but has anyone bought a boat without going through a broker? What should I look out for? How do I handle the money bit?

I can see (from the Westerly Owners Association) handbook) that he has been a member of the WOA and has owned the boat for 13 years, so I believe he has a right to sell, but what paperwork should I see and what paperwork is needed for he deal?

Re: Buying without a broker

Posted: Tue Jun 21, 2016 4:18 pm
by claymore
I have - I did get a survey before parting with any money
The survey also produced a valuation figure so I was able to match that to the asking price.

Re: Buying without a broker

Posted: Tue Jun 21, 2016 6:30 pm
by cpedw
A recent purchase through a broker centred on a Bill of Sale proforma from MCA and DoT; I think there's a version on the RYA website. For a reason that I didn't understand, the price is shown on that as "One pound and other considerations". The actual price was on a letter from the broker.

The broker was excited that the seller had his previous bill of sale and the original one before that. Also there's a Builder's Certificate and original VAT invoice (handy going to Europe if we're still in). These can help to prove ownership but are not essential I understand.

Payment could be handing over a cheque but the seller might prefer electronic transfer before the keys are handed over. This is where a broker saves a lot of angst I reckon. A broker should also check the inventory matches the sales bumf at handover.

Derek

Re: Buying without a broker

Posted: Tue Jun 21, 2016 9:56 pm
by Shuggy
I was probably a bit silly but built up a good rapport with the seller and was happy to transfer the money, sign the MCA Bill of Sale transferring 64/64ths of the share in the ship to me and then nip down and collect the boat from Wales. She's a 43 footer so it wasn't pin money but at the same time I had met the seller three times by then and he was an utterly decent man. He still is - seven years on he's still answering the odd question or two I have!

To be honest I wouldn't recommend this approach - I would prefer to use a decent broker with a client account.

That said, I sold my previous boat without using a broker and had a mixture of cash, cheques and lucky charms from the buyer. He was lovely but delightfully eccentric and he was happy to trust me.

Trust is one of the few exceptions to the supply/demand curve, i.e., the more trust you have the more valuable it is! I've been lucky twice. I'm not sure I would chance it again.

Re: Buying without a broker

Posted: Tue Jun 21, 2016 10:22 pm
by Nick
.
I bought privately without a survey and paid cash - pound notes.

But it was a cheap boat and I am quite mad.

Re: Buying without a broker

Posted: Wed Jun 22, 2016 7:28 am
by Booby Trapper
Nick wrote:.
I bought privately without a survey and paid cash - pound notes.

But it was a cheap boat and I am quite mad.


At last, a confession :D

Re: Buying without a broker

Posted: Wed Jun 22, 2016 7:31 am
by Booby Trapper
Ken
If It's not ownership that concerns you then I don't see any problems you can print of the RYA bill of sale here. It will give you some piece of mind that you now own the the boat and have paid for it.
http://www.rya.org.uk/sitecollectiondoc ... 20SALE.pdf

Re: Buying without a broker

Posted: Wed Jun 22, 2016 12:13 pm
by Bodach na mara
Thanks for that Link Ian, I keep coming up with a form for registered boats. Maybe the boat is registered mind, so I will probably print off one of each to be sure.

Re: Buying without a broker

Posted: Tue Jul 05, 2016 3:24 pm
by Bodach na mara
Well the sale went smoothly. As has been said, a bit of trust goes a long way and the seller is a delightful bloke. The boat has been delivered to Largs by John Shepherd and surveyed for insurance.

There had been a previous survey done in Gosport earlier in June, but the surveyor who did it said that he could not produce another report without another visit to inspect it. And he could not do the survey for another 8 days. Meanwhile Mr Shepherd said he had a truck going to Wales in two days and could collect it the day after that. I called the surveyor and explained that I was not trying to get a survey on the cheap, just in a hurry but he was adamant. It would be unethical, a breach of his own insurance conditions and would get him drummed oot the Brownies (or Cubs) if he did what I wanted. The seller however had a list of repairs that the previous buyer wanted done (as well as having the price reduced by £6k) so using that as guide I did a careful inspection (hindered a bit by almost constant comments from my dear one to the tune of "isn't his nice") and reckoned that it was a goer.

There was one repair that had not gone to plan and I am sorting that before launching. Unfortunately the weather yesterday held me back, then we have to look after our grandchild for two days, then we are going to a wedding on Saturday that seems to need a series of visits to hairdressers etc over the next few days, so it will be next week before water kisses its bum.

It is a Westerly Seahawk by the way and its name is -- er-- (Irene whit,s its name? och yes, how count I forget) Sea Hawk, so if you sea us, give us a call. I may even answer if I have found out how to turn on the VHF.

Re: Buying without a broker

Posted: Tue Jul 05, 2016 8:42 pm
by mm5aho
Sea Hawk is a nice name.
I saw a name of another boat recently - a different type of Hawk..... Boat name "Shy Talk".

Re: Buying without a broker

Posted: Tue Jul 05, 2016 10:42 pm
by Bodach na mara
mm5aho wrote:Sea Hawk is a nice name.
I saw a name of another boat recently - a different type of Hawk..... Boat name "Shy Talk".


Which reminds me of a member of CBSC and Greenock Aeromodelers Club who called all his boats and model planes "Shy Tot."

Re: Buying without a broker

Posted: Tue Jul 19, 2016 9:36 pm
by aquaplane
I passed you as I was entering Largs today. It took a while for the penny to drop who you were and then this thread came to mind when I saw the boat name. You were well passed by then.

I was the bloke waving like a loon as you were peering at the other Westerly on the fuel berth, you either didn't see me or probably rightly ignored me :)

I'm in F3 until Saturn come back with my new sail with the correct luff sliders fitted @ 09:30 tomorrow. I have a date and a time, shall we run a book on when I see someone, with a sail that fits?

Re: Buying without a broker

Posted: Tue Jul 19, 2016 9:43 pm
by lady_stormrider
It's a Jeannau Espace - a wide bodied motor sailor

Re: Buying without a broker

Posted: Tue Jul 19, 2016 11:27 pm
by Bodach na mara
Hi Bob, I was too busy concentrating on our first sail (well motor actually) in our new boat and afterwards was still in Concentrated mode. Also I was coping with my mother's cousin Andrew who is staying with us for a few days and has a deep well of long stories. Sorry I missed you.

Re: Buying without a broker

Posted: Tue Jul 19, 2016 11:50 pm
by aquaplane
Och dina fesh yer sell mon, some ither time.

I'll look forward to the Cooks tour round your new pride and joy when I meet you on a pontoon somewhere.