THE KEY STEPS TO BUYING A BOAT
INITIAL RESEARCHIt is important to take your time to think about why you want a boat and how you plan on using it to ensure that you buy the right boat for you.
- Think about your budget and set a limit
- Think about how you will be using the boat
- long passages
- family fun
- day sailor
- Think about the size of vessel you want
Once you have decided on the above factors, looks to view several different boats within your chosen criteria so you can see the various options and establish what suits your needs best.
Don’t forget to take into account the additional costs of buying and then owning a boat for example;
- Lift out/lift in
- Road transport
- Mooring costs
- Maintenance & servicing
BUYING THE BOAT
The process of buying a boat usually follows the format below;
- Make an offer. As with buying a house there is some degree of flexibility on many boat prices.
- Agree the purchase price
- A 10% deposit is payable. All deposits are held in an account which is separate to the trading account. This deposit is returned if any of the conditions in the contract are not to the purchaser’s satisfaction. Terms and conditions apply. Once the deposit is received the boat is placed ‘Under Offer’, taken off the market and ‘reserved’ to the buyer.
- The contract is drawn up to include conditions of purchase.
- A demonstration of vessel is set up, this is usually for about 1 ½ hours.
- A Survey is carried out. Following a successful demonstration we strongly recommend instructing a surveyor to write a report on the vessel. This is payable by the buyer and helps raise any issues or recommendations regarding the structure of the vessel and helps give you peace of mind that the boat you are buying is in a sound condition. Furthermore, many insurance companies require a survey before offering insurance cover particularly for older boats.
- Proceeding with the sale. Once you confirm to us that you are happy to proceed with the purchase, the balance of the agreed purchase price is due.
- Handover. Once funds have cleared, all necessary paperwork will be obtained from the vendor including the Bills of Sale and these will be presented to you, all basic functions of the boat will be also be explained to you.
- Training. We strongly recommend that if you are new to boating that you undertake some training to ensure you can operate the boat safely and understand the rules on the water
- Boat Transport. If you need to move the boat to a new location we can arrange this for you with John Hamer Transport.
- Insurance. If you require Boat insurance for your new vessel we can put you in touch with Bay Marine Insurance.
- Boat repairs and servicing. If you wish to carry out any work to your boat or any recommendations from the survey our Boatyard can offer you competitive rates and carry out any work you require
- Mooring. If you wish to keep the boat in Cardiff or Aberystwyth we can offer you great introductory marina or dry stack rates.
View our current boat listings