Negotiating the Boat Purchase
If you are purchasing a boat from a private party and have a verbal agreement for a sale it is always a good idea to fill out a bill of sale from your state boat titling and registration entity, such as the DMV. This will help to ensure the general financial structure of the purchase.
Negotiating the sale price of your purchase can be a tricky process. Be mindful that the sale has to make sense to the dealer / seller as well as fit your financial considerations. Your research should guide your purchase price decision.
Additionally, information obtained though the inspection of the vessel, such as a survey, sea trial, and/or maintenance records on a used boat should aid you in negotiating a fair market price based on the current state and condition of the boat.
Once you have negotiated the price of the boat a minimum security deposit may be required to hold the boat while you secure the funds necessary to complete the purchase.
*Note: New and special ordered custom boats may require as much as a 10% - 20% deposit to place the order for your purchase.