18 Apr

Done like Dinner

As of 7:19 pm Wednesday we are now the proud owners of a 2003 Hunter 386.

The various surveys had turned up an astounding $8700 of repairs and issues with an additional $3900 being estimated by the engine guys at Stem to Stern. As I mentioned previously the engine guys had a lot of routine maintenance items built into the estimate that no one could reasonable expect the previous owner to be responsible for. So we, (the broker) proposed that the price be adjusted for the total of the survey issues and $2500 of the mechanical ones. And the we waited. And waited. And waited.

Okay, it was only 2 and a half days, and there were a lot of numbers, but it sure seemed like a long time. Be that as it may, eventually we got word back that the seller would like to reduce the mechanical by a further $500 and further reduce a few of the specific estimates by a few hundred here and there. All in all, he was asking for a reduction of a little over a $1000. That seemed fair.

So I said ok.

And then I (we) owned a boat.

Paperwork

I doesn’t seem real to buy a boat a 1000 miles away over the phone. There is nothing really tangible about it: no hand shake, no new boat smell… so life didn’t change much and we (I) were pretty subdued. Friday rolls around and I finally got the official survey documents with valuations so I contacted our insurance company ( I had picked and contacted an insurance company  about 2 weeks previously) to let him know the real numbers and update the quote. I didn’t really know when to bind in the insurance so I left it hanging (so I thought) for the weekend.

Well around 4pm our time I start getting documents and emails. First was a notice that the signed bill of sale was … well… signed and on its way. And “Oh, by the way, is the insurance in place yet?” Seems the marinas require insurance in place and the PO (previous owner) needed to cancel his. So wrote back to the insurance broker asking if they could bind the policy immediately. He said yes. Then the Bill of sale arrived along with the Pleasure Craft License transfer.

Now it felt like we owned a boat.

That was soon followed by an Insurance application, a Certificate of Insurance and of course an invoice for the aforementioned insurance. I forwarded the certificate to the  yacht broker and we were done. Like dinner.

Now we had ton of other arrangements to make and some bills to add up…

Leave a Reply