Broker Experiences as a Newbie

[Ewan123]

5 hours ago, mrsmelly said:

This doesnt suprise me at all. Turning money down against someone who may or may not buy subject to survey sounds fair to me. I bought this boat within first seeing it after twenty minutes paid for and done. I have never had a survey on my 8 boats. Good boats have always sold very quickly.

If you don't mind me asking, what age bracket have those 8 boats been in? I wonder whether people are happier going without a survey on relatively young boats but less so on older ones that might be more risky (say c. 25 years old)...

[mrsmelly]

1 minute ago, Ewan123 said:

If you don't mind me asking, what age bracket have those 8 boats been in? I wonder whether people are happier going without a survey on relatively young boats but less so on older ones that might be more risky (say c. 25 years old)...

Good point. the first one was very old and I have always been a bit of a risk taker. This was  before personal computers and tinternet forums. I risked it and paid 10k at the side of the canal in used notes. Sold it five years later to another bloke for 10k and he didnt have a survey, it was solid luckily and is still around albeit having some plating work done since. Next was old and bloke who bought it from me a year or two later had a survey and it was solid phew!!  Next was wood and fab and no survey and sold again cash no survey. Next brand new. next 18 years old and never been blacked, I paid well below market and had it checked out and the 6mill had gone to 5.7 at the worst places!! It was built 6/6/3 The last ones have all been less than 6 years old this one was 6 years old on purchase. I am not knocking people who have surveys but most are not worth the paper they are written on and anything other than a hull survey is imho worthless. So in my case mixed boats but experience taught me what to look for after a lucky start!! over thirty years ago when actualy 10k was a few quid. Some people are more risk averse than others of course.

[Bee]

Surveys. Sigh. Or in fact, surveyors. Or even surveyors and buyers. I have much sympathy for surveyors, how can they be expected to know what lurks inside a gearbox, or engine or beneath the floor or behind panelling? And also find  bodges previous owners have done.  Buyers really should be warned and be aware that buying a boat on the strength of a good survey is still a risk. Its a bit like somebody whose car breaks down with a busted cam belt complaining that it was only serviced or MOT'd last week.  A hull thickness or condition survey is a bit more reliable and I would tend to believe the figures but even then there will be a percentage of the hull that is unknown and could have localised problems.

[IanD]

4 minutes ago, Bee said:

Surveys. Sigh. Or in fact, surveyors. Or even surveyors and buyers. I have much sympathy for surveyors, how can they be expected to know what lurks inside a gearbox, or engine or beneath the floor or behind panelling? And also find  bodges previous owners have done.  Buyers really should be warned and be aware that buying a boat on the strength of a good survey is still a risk. Its a bit like somebody whose car breaks down with a busted cam belt complaining that it was only serviced or MOT'd last week.  A hull thickness or condition survey is a bit more reliable and I would tend to believe the figures but even then there will be a percentage of the hull that is unknown and could have localised problems.

Just like buying a house, even if a surveyor is honest and competent (and not all are!) there are always weasel words about what they haven't been able to check.

 

A survey of either house or boat doesn't 100% guarantee that there won't be faults that the surveyor doesn't spot, or provide much legal redress if they don't -- but at least it greatly increases the chance of spotting problems before you buy.

Edited October 22, 2020 by IanD

[MrsM]

I agree with you guys about the variable benefits of surveyors and what they can or cannot be reasonably expected to uncover. However, I have recently come across some absolutely heinous behaviour by boat brokers that leads me to urge any prospective buyer to take all necessary steps (surveys etc) to safeguard their hard-earned.

[Alan de Enfield]

4 minutes ago, MrsM said:

However, I have recently come across some absolutely heinous behaviour by boat brokers

It has been said : take the worst of the 2nd hand car salesman, the worst of an Estate Agent, combine the two and you have a Boat Broker.

 

There are good and bad in all business, the difficulty is identify which is which, and (as in said in financial markets) "Past success does not guarantee future performance."  

 

People change, business is struggling, a load of stock that is (normally) unsellable etc etc, can all affect how business is conducted.

[settlednomad]

On 16/09/2020 at 09:51, Stilllearning said:

As is often the case, the comment you were reacting to was rather biased. In an ideal world the broker/agent is working for both sides and those that aren’t will ultimately fail. As an ex estate agent, I know of what I speak! If I hadn’t worked for the buyer, why on earth would they buy through my services? Admittedly there are the less good in every field of business, and GHBS is rightly highlighted as being very annoying.

I'm am getting a list together of boats I'd like to view and GHBS appear to have (or not, after reading this thread) the majority of them. I'm not exactly filled with confidence from what I've read so far! ??‍♂️

[Hudds Lad]

9 minutes ago, settlednomad said:

I'm am getting a list together of boats I'd like to view and GHBS appear to have (or not, after reading this thread) the majority of them. I'm not exactly filled with confidence from what I've read so far! ??‍♂️

just be prepared for them already being sold, we were lucky when we had booked to go see a boat there that they phoned us to let us know it had just sold before we set off on the 3hr drive to view it.

 

that is my main gripe with many brokerages, they use a medium to advertise that can be updated instantly, yet leave it weeks or months to do so.

[Stilllearning]

We liked Ashwood Marina at Kingswinford.

[Alan de Enfield]

45 minutes ago, Hudds Lad said:

just be prepared for them already being sold, we were lucky when we had booked to go see a boat there that they phoned us to let us know it had just sold before we set off on the 3hr drive to view it.

 

that is my main gripe with many brokerages, they use a medium to advertise that can be updated instantly, yet leave it weeks or months to do so.

It is not only boats.

 

SWMBO made an appointment to go and view a horse, so hooked the trailer on and set off.

It was about 200 miles away, and 20 miles before arriving the owner phoned and said "don't bother coming I've just sold it as didn't know if you were really going to come".

 

I guess the problem is that with so many 'tyre kickers' sellers cannot rely on folks turning up, and so £5k in the hand is better than not, and, upsetting a stranger, is pretty low down their 'worry scale'.

[ditchcrawler]

1 hour ago, Alan de Enfield said:

It is not only boats.

 

SWMBO made an appointment to go and view a horse, so hooked the trailer on and set off.

It was about 200 miles away, and 20 miles before arriving the owner phoned and said "don't bother coming I've just sold it as didn't know if you were really going to come".

 

I guess the problem is that with so many 'tyre kickers' sellers cannot rely on folks turning up, and so £5k in the hand is better than not, and, upsetting a stranger, is pretty low down their 'worry scale'.

A bird in the hand is worth 2 in the bush. If someone is standing there with the money what do you say, Some one said they were coming to look at it as they may want it.

[Alan de Enfield]

Just now, ditchcrawler said:

A bird in the hand is worth 2 in the bush. If someone is standing there with the money what do you say, Some one said they were coming to look at it as they may want it.

Agreed, but it is not very ethical, or considerate to arrange 2 appointments when the 'later one' is travelling 200 miles each way.

 

Money talks, but what we'd do (which is apparently not done by many) is to say to the 'new' potential buyer, "we already have someone coming 200 miles, if they don't have it we'll call you and you get the next bite-of-the-cherry".

[cuthound]

5 hours ago, settlednomad said:

I'm am getting a list together of boats I'd like to view and GHBS appear to have (or not, after reading this thread) the majority of them. I'm not exactly filled with confidence from what I've read so far! ??‍♂️

 

I bought my boat from GHBS. Like you I was full of trepidation after comments about them on this forum.

 

However the reality proved very different. They were very helpful and professional and made the purchase process very easy.

[robtheplod]

Focus on the boat(s) rather than broker. We purchased from a Broker who has, or had a bad reputation but we didn't have any issue and found the whole process fine.... shame to miss a boat just because you *may* have a problem broker.

[settlednomad]

4 minutes ago, robtheplod said:

Focus on the boat(s) rather than broker. We purchased from a Broker who has, or had a bad reputation but we didn't have any issue and found the whole process fine.... shame to miss a boat just because you *may* have a problem broker.

This is true and I am doing this as best I can. Having phoned several brokers this morning most aren't interested until I have money in the bank. My house is about 4 to 6 weeks away from completion with all things going well but this isn't good enough. I've asked them to ask the owner of a specific boat if he'd be happy with that arrangement but I'll just have to wait and see. Nowt more I can do really.

[ditchcrawler]

2 hours ago, settlednomad said:

 My house is about 4 to 6 weeks away from completion with all things going well but this isn't good enough.  

I am sorry to say the way things are at the moment you could well be saying that next year. Until you exchange contracts anything can happen.