10 Steps to Buy a Motor Yacht -- Virtual Boat Shopping, episode 42

[@tjbbmr]

Beyond informative. Great video. We are where you were a year and a half ago. We are literally looking for a boat with the same parameters as yourself. Looking to keep it though to live on in Florida. Also, strongly considering the Loop. Thanks for the great info.

[@TheBoomershines]

So glad you found it helpful! Thanks so much for taking the time to comment to let us know :). Good luck with your hunt!

[@TheBoomershines]

We will sell you ours when we are done!!! She’s going to be a beauty! ⚓️Mark

[@tjbbmr]

@@TheBoomershines I’ve actually thought of that potential. Can’t wait to see your purchase. Just went to the Miami Boat Show on Thursday. Very low inventory everywhere. It’s probably a year out for a purchase.

[@shawnrobinson882]

The "pirated" video was great. What an awesome family, you're going to have a great time on The Loop!

[@TheBoomershines]

We hope so! #fingerscrossed. And no clue why neither of us could come up with the word "hacked" but "priated" seems fitting as well LOL

[@onFIREfamily]

Great steps! At first I thought “ten seems like a lot of steps” but when you add it all up like that it sure is a long process!

[@TheBoomershines]

Its so long! And step number 9 is INSANE! But we are so close. And so are you!!! The survey is stressful but fun. Let us know if we can help any way :)

[@davidmilot8005]

Great video that gives the layman an overall view of the process. There are several sub steps to your 10 steps, but by in large great job.

[@TheBoomershines]

Thanks David! There are so many little steps that it was a bit tricky to streamline and it still feels like a ton of steps. But ultimately we decided these were the main steps or categories -- with little sub-steps under them. Glad you agree!

[@matthewholzmueller6292]

Very happy for you guys! The rug rat pirates did an AWESOME JOB ! Gentle winds, high tides, and good vibes family 🤙

[@TheBoomershines]

Thank you Matthew!!!

[@Godofthemoon1]

The kids video was awesome I laughed the whole time idk how they did it with straight faces😂🤣

[@TheBoomershines]

Thank you! They had fun doing it. So glad you got a laugh out of it too!

[@davidingraham1989]

Working on step 8. Next step is Wednesday. Thanks. D.

[@TheBoomershines]

Wahoooo!!!! Getting so close! Doesn't it feel good to finally get this far???

[@davidingraham1989]

@@TheBoomershines So when we found “ours” it was under contract. After the surveys were done the first people backed out opening the door for us. We went and did a visual, the broker told us what was wrong (the major stuff) with it and the owner said that he would have it repaired. The parts are in and they will start on it Monday and hopefully finish Tuesday. If that stays to plan we will have a second one done by someone else on Wednesday or Thursday. Why am I pouring more wine? Nerves. I’m impatient. Guess I’ll have to pick up more trash. Thanks. D.

[@TheBoomershines]

@@davidingraham1989 It is all so nerve racking for sure! Wine helps LOL. Fingers and toes crossed that you have a great, uneventful week of repairs and surveys!!!

[@davidingraham1989]

@@TheBoomershines the admiral asked if I wanted red or white. YES.

[@TheBoomershines]

@@davidingraham1989 That is the correct and best answer LOL

[@sbvol7385]

Man, I've been waiting patiently for step 9/10 for like what seems like 10 years - LOLs! Thank goodness we are almost there with you, VBS!

[@TheBoomershines]

We are so excited that all of us have made it to step 9! Can't wait for step #10!!!

[@darrellyoung9586]

Very valuable information. Who knew that buying a boat could be so complicated. I may have to rethink my dream

[@TheBoomershines]

Don't rethink the dream! If we can figure it out, you can too :). Keep dreaming!

[@rustycomer8502]

Well hot diggity damn!! Y’all might just actually pull this thing off! 🍾🎉

[@TheBoomershines]

Fingers and toes crossed!!!

[@Scottoh23]

I am so excited that you guys made it to step nine that is just wonderful! I cannot wait to see your beautiful new boat. I’m excited to say that Belle’s Girl Scout cookies arrived today and I cannot wait to dig in!

[@TheBoomershines]

Thanks Scott! You are always so supportive and we really appreciate it! Belle especially appreciated the cookie order :). Hope you enjoy!

[@Scottoh23]

@@TheBoomershines they were amazing! I put the thin mints in the freezer.

[@TheBoomershines]

@@Scottoh23 That is the best way!!!

[@mikehlavinka2964]

You do not have to register the boat in the state where you live. I happen to live in Pennsylvania but the boat is registered in Delaware where we did our primary boating.

[@mikehlavinka2964]

Delaware and several other states offer great deals on the sales tax and registration fees. Just one more thing you need to shop for.

[@TheBoomershines]

@@mikehlavinka2964 We are going to look into that this week for sure. Thank you for the info!

[@davidmilot8005]

If you register your boat with the US Coast Guard, you do not have to register your boat in a state.

[@gajgg]

Great videos! We have watched them all and even gone back several times. We are also looking to do the loop but concerned about insurance as you were. Could you provide us with the insurance broker you used. Thanks

[@TheBoomershines]

Hello! I can't remember if we have touched base about this yet. If you are still looking for insurance, we have a great guy. DM us over on instagram or go to our website and shoot us an email through our contact us page and we will share his info.

[@Kevin-le2uf]

Congratulations 🎉🍾

[@TheBoomershines]

Thanks Kevin! #fingersandtoescrossed

[@sisaacs6071]

FuzzyNugget and I found the video and approve the kiddo's message!!! Peace ✌️ out

[@TheBoomershines]

Thanks FuzzyNugget! Our Fuzzy Nuggets currently trying to learn how to survive in life jackets. You might be amused at their latest Instagram post LOL

[@mikemenard9789]

Great video to explain the process. I’m currently looking for a boat similar to the one you selected. At what point did you take the boat out for a sea trial to see how she handled? I have a problem buying a boat that I’ve never taken a ride on before. My broker says that not only I don’t get a test ride he won’t even just start the engines at the dock.

[@TheBoomershines]

Great question! We put a contract on this boat without even stepping foot on it. We did not take it out till we were doing the survey and sea trial. While looking at boats, we did start the engines on a few but never took a boat out of its slip. I imagine if you were seriously interested in putting in an offer on a boat that has been on the market for a while you could ask to take it out. But the boats we were interested in were newly on the market and that wasn't an option for us. Good luck with your hunt!!!!

[@mikemenard9789]

@@TheBoomershines Thanks for your reply. Best of luck with your travels. I look forward to living vicariously through your videos until I find my own boat and begin my journey.

[@sterlingd9035]

IAM Hopefully Hope it's The Boat you are getting is the only 1 I would ever have to do The Loop w The Kids and space for An A Art Studio Area Can't wait to go on the trip My LX'S are almost packed and silver trays are ready For The Trip PS the kids are Great

[@abuck2844]

Do you think these steps apply to smaller boats as well or just these 40-50ft plus vessels?

[@TheBoomershines]

Great question! I am not sure where the cut-off is in terms of size and/or features and/or price. When we bought our ski boat it was like buying a car but I've heard of people getting their ski boats surveyed. I know people who bought Ranger Tugs that were a similar length to our ski boat and they went thru this whole process. Guessing it depends on the price point. Perhaps someone with more knowledge on the topic can chime in here. Anybody have more intel?

[@TheBoomershines]

Capt. Mark chiming in. Definitely on a small boat that may have a galley and head as well as a genset. All of those are definitely systems. You would want to look over possibly with the help of a surveyor. I also think having a hull survey for spots and fiberglass for delamination is a very good thing to do no matter what size boat. Thanks for tuning in! ⚓️Mark

[@hookedupin2005]

Speaking of Insurance.... What about self insured? Would you have any knowledge of that aspect?

[@TheBoomershines]

Mark may have a more thorough answer but ultimately we decided we want/need insurance. We've heard horror stories of boaters being on the line for millions after their boat hit a coral reef or caused other environmental damage. We obviously don't want to cause any horrific damage like that but if that were to happen, insurance would be needed. Cinda

[@tjbbmr]

Which Chapman courses did you complete to assist you in the insurance process?

[@TheBoomershines]

We did CPC 1000. It was a great course -- especially when done with friends.

[@tjbbmr]

@@TheBoomershines Did you go there to do it? Or online? Zoom?

[@TheBoomershines]

@@tjbbmr we did it before Zoom existed in 2012. Ha! Our course was both class time and actual helm time in a twin screw Tiara provided by Chapman. Engine pre and post check, docking, line handling, MOB drills, and basic VHF operation were just some of the practical class work. Rules of the road, and basic costal navigation were class time work. ⚓️Mark

[@TheBoomershines]

@@tjbbmr We did it at Chapman back in 2011. We stayed on our boat which was docked nearby.

[@peterinsyracuse7056]

One thing surprised me... you said that the deposit is forfeited if you back out of the deal for any reason. Is this true even if the survey shows major issues? Doesn't seem like you should lose the deposit if the boat had problems, especially if not disclosed by the seller.

[@TheBoomershines]

The deposit is only forfeited if you back out AFTER you accept on the accept/reject date. You get the deposit back if you reject the boat before that date which is in your offer. Just make sure you get your survey done and all your oil analysis completed before that date.

[@peterinsyracuse7056]

Got it, that makes sense. Thanks for clarification!

[@davidmilot8005]

Oil analysis is very important. It will tell you the health of the engines and whether the boat has been maintained. I have rejected two boats on oil analysis alone, even with a good survey.

[@marknewton8530]

Do you pay someone to did the survey, a company, etc.? Did you attend and do it with them?

[@TheBoomershines]

We hired a professional surveyor to survey the engines and the hull and everything in-between. We were there for the survey. This is a very important step when buying a boat.

[@lenjanssen9600]

Why is there no step for financing the boat?

[@TheBoomershines]

Great point! We figured that was obvious and also a personal decision much like what type/size/style of boat you want. Perhaps we should add step 0.5 - figure out your budget and how you will pay for your boat (cash or finance). That should definitely be the first step before getting a broker.

[@lenjanssen9600]

@@TheBoomershines Like Insurance, For many people, financing will determine thier maximum boat purchase. Love yur channel...can't wait to see what boat you picked.

[@TheBoomershines]

@@lenjanssen9600 So true on financing! We made insurance a step because we feel like most people know generally what they can afford but many people are completely blindsided by insurance. We've heard of many deals getting scuttled because the buyer can't get insurance.

[@stevenbrown5456]

Regarding sales tax, I understand that the tax in Florida is 6% with a maximum of $18,000. So if you are buying a boat over $300K your maximum tax would be $18,000 - which is a good deal. Most states have no maximum. Your broker can help with this and steer you in the right direction.

[@TheBoomershines]

That is how we understand it too.

[@davidmilot8005]

Most states have tax exemptions. For example, if you buy a boat in FL and move the boat to another state that you live in, you have 10 days from the closing to get the boat out of the state in order to avoid FL sales tax. This is the same for several states on the east coast, except for NY and NJ.

[@abuck2844]

@@davidmilot8005 then you have to pay the new states taxes right?

[@russoley8995]

Tire kickers telling people what you need to know... very sad

[@TheBoomershines]

If you don't think these steps are accurate or helpful then by all means please chime in with your constructive criticism. We value collective input and knowledge. But we respectfully disagree with your implications that we are tire kickers and that our attempt to help others navigate the crazy process of buying a motor yacht by sharing what we have learned is sad. If you don't like our content then just don't watch. We focus on kindness, love, and joy on this channel and in life.

[@TheBoomershines]

On Monday our bank account will disagree with your “tire kicker” comment Russ as we close on our boat!!! 🤣🤞🏻