DE purchase protocol

JoeD

Lieutenant
Joined
May 29, 2012
Posts
47
Likes
15
Location
Connecticut- Rhode Island
Hey Gang,

Haven't bought a boat in a while and wonder what's the protocol of buying a boat nowadays. I know that cash in hand works but the down payment part can be a little troublesome as I hear that in some cases both parties could back down from a deal.
So I come to you for advice, what's the average down payment percentage and what type of documentation one must or should sign at down payment?

Thanks in advance
Joe
 

Bill_N

Rear Admiral
Joined
Mar 20, 2012
Posts
1,685
Likes
541
Location
Eastern Ct
Boat Make
31' JC Rowdy Girl
10% down is standard in my experience. Most brokers have a purchase agreement that protects both buyer & seller. If it's a private deal write up something that you're both satisfied with. If you both want to make a deal it shouldn't be too hard although there are always exceptions.
 

djmarchand

Captain
Joined
Jul 24, 2012
Posts
664
Likes
291
Location
Litchfield, CT / Punta Gorda, Fl
Boat Make
Atlas Pompano 23 outboard
If you are working with a broker ask him to run you through the drill. If not BoatUS has a standard contract that you can use.

Generally you can walk away from the deal if you are not satisfied with the survey and seatrial.

David
 

jerseysportfisher

Rear Admiral
Joined
Feb 13, 2012
Posts
1,181
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149
Location
Communist part of NJ
Boat Make
Bertram 33SF
Hey Gang,

Haven't bought a boat in a while and wonder what's the protocol of buying a boat nowadays. I know that cash in hand works but the down payment part can be a little troublesome as I hear that in some cases both parties could back down from a deal.
So I come to you for advice, what's the average down payment percentage and what type of documentation one must or should sign at down payment?

Thanks in advance
Joe

I'll make it real easy for you. Drive a pickup truck loaded with cash to travis or ken. Drive away. In no time they will build you something really cool.


see problem solved

:D
 
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