You have decided that you want to go boating; possibly sailing on the ocean, fishing your favorite lake or a retirement vessel. You have a choice to make, pay full price or buy a used boat. The truth is that you stand to save a lot of money buying even a slightly used boat over a new one. There are many places online that list boats for sale; you should check them out to see what basic prices are out there for the model and brand you are looking for. This way you can make an informed decision.

 

1. New or used boat
2. Price you can afford
3. Model that you like

You find a seller and vessel that you would like to buy; you need to set up a meeting to discuss price and have them take you out in the boat.

4. Find a seller that you feel comfortable with and a boat that you are interested in.

Personally, I would not use a surveyor that the seller has recommended. Also, don't rely on a survey report from the seller. The report may have been written before some problems turned up in the boat.
Use an independent surveyor and in every case survey the boat in and out of the water. Marine surveyors inspect the boat in your interest and the interests of your lender and insurance company. Sometimes your bank will designate a surveyor to you. Also, brokers have lists of marine surveyors approved by lenders and marine insurance companies.

5. Get an independent survey of the boat, be there during the survey and ask questions of the surveyor.

Determine your insurance needs and cost. This can vary based upon the following factors:

a. What the boats value is
b. Demography
c. What equipment the boat has on it.
d. Your previous insurance claims.
e. How much experience with boating you already have.

When it comes to sales agreements and contracts, the cardinal rule is to get it in writing. The broker will outline the terms of the sale in writing to protect your interests. This includes spelling out obligations between you and the seller, and when they will be fulfilled. It's a legally binding contract of everyone’s intentions.

6. Get everything in writing. Remember it’s legally binding.

7. Make sure that the title is clear and is properly transferred

Finish the deal by paying for the boat. If you are new to boating, a boating safety or certification class may be in order, and find a dock or marina to place your boat.

Lastly, take your boat out and have some fun.