Looking for insight on experiences with the boat buying process. My previous new boat purchase was pretty straightforward, I handed them a pile of cash, and they signed over the boat. Previous to that, they were all back yard deals on old clunkers. This is our first experience with a broker, and also first time dealing with a trade.
The process so far is that we viewed the used FV270 indoors at the brokers showroom, liked what we saw, and after discussing pricing, and a fair trade on our existing, we left a deposit and signed a purchase agreement with contingencies for a satisfactory trade, satisfactory survey (which has been done, and came out excellent) and the broker fixing a few noted deficiencies including a small leak in the sterndrive gear oil reservoir and the temperature sending unit. And finally a satisfactory sea trial to test all the other components we can't power up until in the water. Around here, that won't happen until at least mid April at earliest.
In the meantime, our trade is at the broker and has been listed on the broker website, but limited info, and no pricing, I'm assuming until we all know the deal is all finished. But at least it gives them the opportunity to generate interest ahead of the season, which I thought was fair. They had to take a look at it anyway.
So here's the questions that I will be asking the broker, but wanted input on if I am correct in my thinking:
1 - Our current boat/trade is still insured by us, and I'm assuming I'll want to keep that policy in place until a done deal?
2- We insure the new craft as of the delivery date, expecting a successful sea trial? (If all good, it'll be going right into the marina slip)
3 - We've given just a small holding deposit, but of course, they also have my old boat, but should I expect to hand over more cash before the sea trial, or have a certified cheque for the full amount ready for the day of?
4) Given that they are delivering the boat to our home waters/marina for the sea trial, and assuming no catastrophic conditions, but if we find any minor deficiencies, how do we handle that? Do we outright refuse delivery, have them re-cradle it and drag it back to their shop, or is it ok to agree they fix it in the slip? (not sure would even be allowed by the marina as they have their own service team) Or is it better to negotiate a new final price and either fix it myself or live with it, for example, maybe the refrigerator isn't working properly.
5) How much time should I expect to have for the sea trial. The correct answer in my mind, is "As long as it takes until I'm satisfied", but what would be an average normal?
6) If I want to have a mechanical survey, or at least have a mechanic cast eyes on it, do I do that at time of sea trial, or prior? The difficulty is that the boat won't be anywhere near water until day of delivery.
Is there anything else I missed?
As "newbie" soon to be cruiser owners (fingers crossed) we are obviously excited, but also nervous, so any advice from those of you that have been through it all before is greatly appreciated.
"Knot Quite Shore"