Do I need a buyers broker to buy a PH?

[parkernewbie]

Hello,

I'm looking to buy a 2520. The seller has a broker. Should I find a buyers broker?

I've only ever bought and sold a much larger boat, so I'm not sure what's normal for buying.

Thanks!

 

[Jday]

A marine surveyor is what you want. They can do a very extensive assessment of overall condition of boat, electronics, plumbing, etc. Some also give you a range of boat value.

 

[dcunniff]

Welcome to the forum.

How old is the 2520 you are looking at? How far away is it? Is it on land? Some typical questions

 

[BradH]

It depends if you like and trust the seller's broker. They are working for the seller, and you need to make sure they have your best interest at heart, too.

Typically the seller pays the broker 10% commission, and it's split 50-50 between the buyer's and seller's brokers, so the seller is paying it regardless of who is involved. Sometimes the seller's broker will discount the commission if they represents both sides, but it's rare.

Where is the boat? And how close are you to it?

 

[southofblock]

Hello,

I'm looking to buy a 2520. The seller has a broker. Should I find a buyers broker?

I've only ever bought and sold a much larger boat, so I'm not sure what's normal for buying.

Thanks!

This maybe uncommon, it was the seller’s broker who worked the deal the hardest. He did my bidding, and returned to the seller with lower offers, up to the final. Back and forth four times, I was ready to walk and it was the broker who convinced the seller to settle. It was the survey which gave me room.

 

[1801Steve]

It depends if you like and trust the seller's broker. They are working for the seller, and you need to make sure they have your best interest at heart, too.

I disagree. The seller's broker is just that - the seller's broker. He has a fiduciary duty to his client. He has no duty to you. He isn't necessarily out to screw you, but don't expect him to "have your best interest at heart."

To answer your question, no you do not need a buyer's broker. Depends on how comfortable you are negotiating the deal with the seller's broker, arranging survey, haul out, sea trial, financing, insurance, etc. If you can do those just hire a good surveyor.