ari
Well-known member
Barry, how did the Rinker survey go? You must have heard something by now, surely? Ari.
BarryD, how was the survey?
- Thread starter ari
- Start date
BarryD
New member
No lift slot this week - survey next week. NM
Bu**er
Barry D.
Bu**er
Barry D.
ari
Well-known member
Re: No lift slot this week - survey next week. NM
It's like walking through treacle getting stuff done sometimes isn't it?
Where is the boat lying? Are you buying it through a broker?
Ari
It's like walking through treacle getting stuff done sometimes isn't it?
Where is the boat lying? Are you buying it through a broker?
Ari
BarryD
New member
Slow as in snail on valium!
Ari, she's lying afloat in Southend (well Leigh really) and I'm buying it without a broker - but I've got the RYA paperwork and I'm still waiting for Cardiff to tell me that there is no finance on the boat (or none that they know of). Neither is she registered with the SSR.
I'd define boat buying as shoveling water uphill with sieve. Even when I was working with a broker I struggled ot find anyone to return my calls or take my deposit!
Still all things being equal I should be able to take ownership next week.
Barry D.
Ari, she's lying afloat in Southend (well Leigh really) and I'm buying it without a broker - but I've got the RYA paperwork and I'm still waiting for Cardiff to tell me that there is no finance on the boat (or none that they know of). Neither is she registered with the SSR.
I'd define boat buying as shoveling water uphill with sieve. Even when I was working with a broker I struggled ot find anyone to return my calls or take my deposit!
Still all things being equal I should be able to take ownership next week.
Barry D.
peterg
New member
buying a boat..
We had similar problems with our second boat which we bought through a broker, we did a sea trial, arranged a survey and agreed a price with the owner via the broker and paid the deposit and arranged for the balance to be transferred to the brokers bank account electronically and then when we asked them when we could collect the keys they said "oooer it usually takes 3 or 4 weeks to transfer ownership etc. I don't think you can have the boat for this weekend" (and this was on the Tuesday!)
Needless to say, after expressing my disbelief that anything so simple could take so long (no registration/finance to deal with on this boat), we took a day off work on the Friday and 'visited' the brokers office armed with proof that they had our money and collected the keys
We had similar problems with our second boat which we bought through a broker, we did a sea trial, arranged a survey and agreed a price with the owner via the broker and paid the deposit and arranged for the balance to be transferred to the brokers bank account electronically and then when we asked them when we could collect the keys they said "oooer it usually takes 3 or 4 weeks to transfer ownership etc. I don't think you can have the boat for this weekend" (and this was on the Tuesday!)
Needless to say, after expressing my disbelief that anything so simple could take so long (no registration/finance to deal with on this boat), we took a day off work on the Friday and 'visited' the brokers office armed with proof that they had our money and collected the keys
markc
Well-known member
Re: buying a boat..
I also bought my present boat through a broker...it could not have been more simple and effortless. Perhaps that the boat was the private boat of the owner of the brokerage helped though!!
On the whole, finding a good broker seems to be pretty hard
M
I also bought my present boat through a broker...it could not have been more simple and effortless. Perhaps that the boat was the private boat of the owner of the brokerage helped though!!
On the whole, finding a good broker seems to be pretty hard
M
KevL
New member
Re: Slow as in snail on valium!
If my recent experience is anything to go by then it'll take a week before you get sight of the survey let alone filter out the important bits, agree what needs done with the owner, get the work done, transfer the money etc. So maybe you're being a little hopefull if you intend to pick it up next weekend.
Also, you really don't know if the boat is any good until that survey is complete. It's a really big mistake to just go through the motions of getting a survey done if you've already decided that you're buying the boat anyway.
By the way, you did realise that you are also going to get a bill for the lift out and maybe a power wash of it's bum don't you. Good, coz I didn't.
Hope it all goes well
Kev
If my recent experience is anything to go by then it'll take a week before you get sight of the survey let alone filter out the important bits, agree what needs done with the owner, get the work done, transfer the money etc. So maybe you're being a little hopefull if you intend to pick it up next weekend.
Also, you really don't know if the boat is any good until that survey is complete. It's a really big mistake to just go through the motions of getting a survey done if you've already decided that you're buying the boat anyway.
By the way, you did realise that you are also going to get a bill for the lift out and maybe a power wash of it's bum don't you. Good, coz I didn't.
Hope it all goes well
Kev
ari
Well-known member
Re: Slow as in snail on valium!
Worth making sure you try and get previous Bills of Sale from when he bought it and from when the previous owner bought it etc if you can.
On smaller loans (usually up to £15,000 but sometimes more) a finance company often won't insist that the boat is registered, but will insist on five years proof of title (ie the Bills of sale going back at least five years) which they then hang on to until the loan is paid off. Problem with this is that there is no way of checking for outstanding finance (as there is with a full part one registered boat by obtaining a transcript of registary) but yet the finance company apparently still have a lien against the boat (in other words the debt goes with the boat, not the owner so if there was outstanding finance on the boat technically the finance company can repossess even though the boat has changed hands).
Trouble is that quite often people are unaware of all of this, and don't get the Bills of sale when they buy, so not having them doesn't necessarily mean there IS finance on the boat. But if he has got them, you want them, not just the one to him from the person he bought it from but previous ones too.
Apart from peace of mind, when you come to sell it, if the person buying from you is obtaining finance through a marine company they may well request the Bills of Sale so that they can then hold on to them for the reasons above (if you see what I mean...!)
Also worth trying to get proof of VAT payment if you can too (ie original invoice). Again it might be something you are asked for when you come to sell, and it is much easier getting this stuff out of the current owner whilst he is trying to sell you the boat than some years after when you are trying to sell and the previous owner has no interest in helping you out.
Good luck with the survey next week!
Ari
Worth making sure you try and get previous Bills of Sale from when he bought it and from when the previous owner bought it etc if you can.
On smaller loans (usually up to £15,000 but sometimes more) a finance company often won't insist that the boat is registered, but will insist on five years proof of title (ie the Bills of sale going back at least five years) which they then hang on to until the loan is paid off. Problem with this is that there is no way of checking for outstanding finance (as there is with a full part one registered boat by obtaining a transcript of registary) but yet the finance company apparently still have a lien against the boat (in other words the debt goes with the boat, not the owner so if there was outstanding finance on the boat technically the finance company can repossess even though the boat has changed hands).
Trouble is that quite often people are unaware of all of this, and don't get the Bills of sale when they buy, so not having them doesn't necessarily mean there IS finance on the boat. But if he has got them, you want them, not just the one to him from the person he bought it from but previous ones too.
Apart from peace of mind, when you come to sell it, if the person buying from you is obtaining finance through a marine company they may well request the Bills of Sale so that they can then hold on to them for the reasons above (if you see what I mean...!)
Also worth trying to get proof of VAT payment if you can too (ie original invoice). Again it might be something you are asked for when you come to sell, and it is much easier getting this stuff out of the current owner whilst he is trying to sell you the boat than some years after when you are trying to sell and the previous owner has no interest in helping you out.
Good luck with the survey next week!
Ari
BarryD
New member
Re: Slow as in snail on valium!
Good points Kev, however as I'm buying with no broker I've had to approve the lift with the marina in advance so I was aware that I would be responsible for that etc. It makes sense that they are my costs - it's my call to get a full hull / bulkheads done - the engine / outdrive is under warrent from the installer still. And she went like a train on the sea trial, and turned sharpish and was well balanced at 30mph - 'course it helped once I'd worked out that pressing the top trim button moved the bows down and not up or was it the other way?
Dependant upon what the survey finds I either buy it, agree a cost reduction or walk away recovering my deposit - cos that what we wrote on the reciept. Lots of boats out there to play with. I can see no reason why the deal can't be done with a bundle of holding folding next Saturday morning. Giving me a morning to be shown the boats switches, shore power distribution and filters etc. and the lunctime / afternoon to play with the new toy - the current owner is happy to show me everything and give me a couple of hours handover (for the price of a beer and lunch), before I head off back to a halloween party - I'm playing Lurch!
Barry D.
Good points Kev, however as I'm buying with no broker I've had to approve the lift with the marina in advance so I was aware that I would be responsible for that etc. It makes sense that they are my costs - it's my call to get a full hull / bulkheads done - the engine / outdrive is under warrent from the installer still. And she went like a train on the sea trial, and turned sharpish and was well balanced at 30mph - 'course it helped once I'd worked out that pressing the top trim button moved the bows down and not up or was it the other way?
Dependant upon what the survey finds I either buy it, agree a cost reduction or walk away recovering my deposit - cos that what we wrote on the reciept. Lots of boats out there to play with. I can see no reason why the deal can't be done with a bundle of holding folding next Saturday morning. Giving me a morning to be shown the boats switches, shore power distribution and filters etc. and the lunctime / afternoon to play with the new toy - the current owner is happy to show me everything and give me a couple of hours handover (for the price of a beer and lunch), before I head off back to a halloween party - I'm playing Lurch!
Barry D.
peterg
New member
Lurch eh?
so you won't be needing any makeup then Barry <BG>
so you won't be needing any makeup then Barry <BG>
BarryD
New member
G*t - Just a dusting of concealer or the like NM
LOL
Barry D.
LOL
Barry D.
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