Before buying a used boat or yacht

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Questions to ask before buying a used boat or yacht

106 due diligence questions.

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Top 10 questions

  1. Have you been in contact with engine manufacturer experts?
  2. Is this the Seller�s first boat?
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About you

  1. How long do you plan on owning the vessel?
  2. Are you represented by a broker?
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The seller and it's broker

  1. Are you dealing with the seller directly?
  2. Is the seller using a broker? If yes:
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Manufacturer

  1. Which brand is the vessel?

  2. Is the manufacturer bankrupt or has it ever been?
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The vessel

  1. If you were to play devil�s advocate, what are the negative things about this particular vessel you are looking to buy?
  2. Does the vessel need any special equipment for your climate?
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Financials

  1. Does the seller have an operating budget to show?
  2. How much is berthing costing?
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Maintenance and service

  1. Have the boat had all is required maintenance?
  2. When were the engines last serviced?
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The contract

  1. What items will Seller guarantee in the contract?
  2. Are there any time limits to be aware of?
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Other questions

  1. Is this a non-smoker vessel?
  2. Do you need special approval to use the vessel in your waters?
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