Pre Purchase Boat Inspection
Once a seller has accepted your offer on a boat, it’s time to complete the inspections which usually include a sea trial, hull survey, haul out and a mechanical inspection. These contingencies of the sale must meet a boat buyer’s satisfaction.
Sea Trial. The purchase agreement seller will provide access to the boat to take the boat out on the water. The sea trail is done to see how this boat handles and its systems perform out on the water.
Hull Survey and Haul Out. A marine hull survey is your opportunity to find any deficiencies on the boat including broken accessories, structural integrity, safety and code issues and cosmetic needs. A buyer is responsible for pay for all inspection they option. Always use an independent accredited marine hull surveyor who will inspect the boat in your interest. Your insurance and lender may also require a hull survey.
Mechanical Inspection. Having the engines and generator checked out is also very important. An authorized service technician should be hired to check out the mechanical condition as this is often the most expensive part of the boat. While no inspection is guaranteed to find every flaw in a used boat, a trained eye can potentially help avoid serious problems.
Be Present for the Inspections. We recommend that you attend the survey to see firsthand the condition of the boat. This is the best opportunity to learn about the boat and be able to ask questions to your surveyor.
“Subject To…” If the inspections reveal repair needs, then further negotiations can be had between buyer and seller to address the needs. Often a price concession is the best way to handle the needed repairs. Remember that the sale is “subject to” the inspections making the deposit fully refundable within the terms of the agreement. Simply put, a buyer can cancel the sale if they are not satisfied by the results of the inspection.
Repair Allowance. If you’re buying a boat at a rock-bottom price, or if the seller is in distress and is selling for below his market price, the sea trial and survey will not always allow leverage to negotiate further. The seller might not have funds for repairs and is selling as is, where is. The seller may insist that you pay any repair costs given the low sale price.
Extended Warranty. The original factory warranty on used boats older than a couple years will be expired. The inspections do not guarantee problem free ownership after the sale. For this reason there are after factory warranties available to boat buyer.
Written Agreement. A purchase agreement protects your interest by specifying the requirements for both the Buyer and Seller to perform their respective responsibilities pertaining to the offer, inspections, final acceptance, final payment and the delivery. Ballast Point Yachts, Inc. will assist in the coordination of this process and can also arrange financing, insurance, title, transport and final delivery of the vessel.
Contact Us Today:
Ballast Point Yachts, Inc.
1239 Scott Street, San Diego, CA 92106
Tel (619) 222-3620 x 1 • Cell (619) 977-6006 • Fax (619) 222-3690