Buyers Guide to purchasing a new boat

By: Troy Woods

How do you best go about the task of purchasing a new boat when there are seemingly hundreds to chose from? Should you use an experienced Marine Broker?

Buyers Guide to purchasing a new boat
Buyers Guide to purchasing a new boat

The simple answer is yes. 

Most marine brokers are experienced boaties who are passionate about the industry and boating  in general. As such they should have a broad knowledge of different types of boats and will be able to help you find the right vessel.

Brokers are experienced in contract preparation, they can assist with your initial offer and negotiations, ensure you have the right due diligence clauses and terms in place, they will hold your deposit in a Trust account protected for you, assist with finding a surveyor, marine engineer and help you through the inspections, sea trials etc. A good broker will provide you with peace of mind throughout the process.

Step 1:  Write a list of what you want a boat for, what do you want to on the water.

Include any must have items eg a fly bridge for sports fishing, accommodation for how many people, sedan style with less stairs and ladders etc.

Step 2:  Talk to a marine broker.

Discuss what you are looking for and why, include an idea of your budget so your time is not wasted on totally unsuitable boats. Ask them questions, what do they suggest etc. If you don't get the right answers, or feeling, call another broker. Remember you will be working with this person on a significant purchase and you need to have a good relationship. 

Step 3:  Look at a range of suitable boats to truly get a feel for what you want - focus on what feels right and what ticks most your boxes.

Step 4:  The Offer. You have found the right boat and are ready to put an offer in. 

Your broker will have an industry approved Sale and Purchase agreement. They will fill this out with you and include your due diligence clauses, usually including sea trial, survey and engineers inspection and reports. These are for the purchasers protection.

Step 5: Your broker will work with you through the sea trial, survey etc and explain what everything means, negotiate any repairs or work that is identified, help arrange insurance and all the other details that are part of the process. 

It might seem daunting but remember we do this every day and it is our job to keep you informed and comfortable all the way.

Step 6: You have purchased your new boat - go out and enjoy the beautiful cruising grounds that we are lucky to have in NZ.

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