I have watched a lot of videos on youtube and sailing and Cats in particular and these videos are a breath of fresh air. Just the info you need and no personal BS. Gary makes a clear case for hiring him when buying a Cat. Anyone can search listings but a good broker can help you save more than they cost!
Impressed by your candid and straightforward talk about the rules and expectations of buying a boat. I feel you would make an excellent Buyer’s broker and would definitely consider reaching out to you when the time comes. Also, I subscribed!
Thanks for all this information to safe some money in the process.What is the best/easiest/cheapest way to go bluewater sailing regarding licenses,qualifications needed.What is the bare minimum requirement to go sailing,is an insurance compulsary and what does the insurance company ask for if I buy a boat and go crossing the oceans?
Thank you for a open and honest discussion of the reality and pitfalls regarding a used yacht purchase. Could you explain the duties paid aspect of used yachts? I'm thinking there are US and foreign duties that could affect the final cost of ownership if the yacht is registered in the US.
G'day Gary, a blessing to find you while approaching the end of our Hotel quarantine detention here in Melbourne, Australia. Just when I have had enough of dealing with brokers, in the quest to find our safe, sound & comfy passage maker, who does the Holy Spirit put in front of me....Gary. I sure do appreciate you.... Regards, Silvano
Hello we are going to be in the market of purchasing a catamaran and we are wondering if you could help us ? If you use signal we are on there , we’re from Canada. We’ll be heading to Florida in May while our home is up for sale if you’re available and where you are located?
Great series of vids Very Thankyou Please upgrade your website to make it easier to surf. It is difficult to load, pics are too small and just a clunky old style for user ease Keep up the good work !
I'm looking to buy a blue water cruiser now. I would prefer a cat but a monohull will do if it is best deal. I have sailed monohulls since the 1960's. I have never sailed a cat. I am willing to travel any where in the world to get a boat and I will sail it from there. I'm not looking to fiance a boat. I'm looking at 50 -100K USD plus 40 - 50-K refit. I can do minor repairs myself. I'm looking for all major repairs plus purchase not to go over 150K USD.
Short Answer: Some kind of Center Cockpit, a CSY 44, or maybe some others. Long Answer: email me yachtbrokerBK@gmail.com because there are about half a dozen variables to take into account. Thanks,
I have seen in boat listings that the taxes have either been paid or unpaid, if the taxes haven’t been paid by the seller how will that affect the new buyer? Thanks for the great video.
Hey Craig, Did you know that most new yachts have large numbers of defects and most buyers don't catch them (until after the warranty period has expired) because they fail to have them surveyed by a tough accredited surveyor? I used to own Florida's largest sailing yacht dealership (Eastern Yachts) and we would sometimes see 50-150 defects found at survey! Sometimes it takes 3-4 months to fix and you can't use your new boat during the repair period. Since I've been selling new and used yachts for 32 years now I can save you time, money and hassles...usually my commission is built into the price.
The smart thing to do is not buy a boat .. :) better to compete where you live and wait for a good boat vs chasing one down in Grenada... I've been looking since 2018 ...
Gary, if a survey has been done on a yacht, and the sale falls through due to some defect or other, can you request that previous survey from the seller?
Hi Dane, Yes sure you can but most buyers do not release the entire survey without getting some sort of compensation. After all, they spent $20-25/foot on it and the haulout probably cost $400-600. So, they try to market it to another buyer for 50%. Most insurance companies and lenders require that Sur vets be "fresh" which means max 90 days old so the value goes way down after that. You are more likely to get a free survey when it has "aged".
For new sailboat owners, with respect to insurance, is there a point in the process that will require some type of documentation that shows the buyer knows how to operate the sailboat? i.e. ASA course certifications and a minimum number of sailing hours for that type of vessel?
Hi Evan, SAILING-TRAINING andTHINKING AHEAD ABOUT INSURANCE: Yacht insurers have lost money most of the past 5 years and are getting a bit more difficult.When you buy a catamaran the insurance underwriter will want to see a "sailing resume" and they look for "comparable experience" and prior yacht ownership. Some require at least two years' experience of owning a yacht (under Florida law, for example, a yacht is defined as being 32' or longer). In some underwriters' eyes, a sailing monohull of similar size constitutes "comparable experience" to a catamaran. Powerboat experience helps but doesn't guarantee you will get coverage because dealing with storms on a sailing yacht is different. So, if you do not have this experience, we should talk about your situation "sooner than later". A lot of newbies tell me "I want to wait and get trained on my yacht" BUT you will probably not be able to get any coverage and you will never get a loan. It just doesn't work that way. If you do not have enough experience they will probably say either "Sorry, we cannot insure you" or "We can insure you but you must have a licensed captain in command whenever you move the yacht" or "you must have a licensed Captain for the first 100 hours and when he/she signs a statement that you are qualified to operate the vessel then that restriction is lifted".Having to have a Captain is impractical and expensive. So, it's good to get some training and/or "comparable experience" sooner rather than later. It doesn't look good to the insurance company if you get Certified and then 2 weeks later you buy a yacht. The best approach for newbies is to get Certified at an Accredited sailing school . After you get Certification it helps to charter the same size catamaran as you want to buy (and you may need a captain) for a week. I used to own America's oldest sailing school (Castle Harbor of Miami...founded 1949) and we have trained thousands of people to sail. After hurricane Irma destroyed all of our docks we suspended operations. Bluewater Sailing School of Ft Lauderdale has week-long live-aboard accelerated ASA "Combination" (ASA 101, 103,104, 114) courses in Ft Lauderdale, USVI and Bahamas and I recommend them ... Or you may have an ASA (American Sailing Association), RYA (Royal Yachting Association in Canada or Commonwealth countries) or US Sailing accredited school closer to your home. It's better to do this as soon as possible and not wait. Some buyers think they will wait and get trained on their boat but this can cause big insurance complications...Instructors do not like doing classes on boats they are not familiar with and it is harder to find those that will. I do have three ASA-Certified Catamaran Cruising Instructors who will sometimes do this BUT USUALLY ONLY AFTER YOU HAVE COMPLETED AT LEAST ASA 101 AND 103. ROUGHLY-SPEAKING, COSTS AND TIME-REQUIREMENTS:We think the best way to learn sailing is to take it in graduated steps with time to practice between each step . The steps are best done in progressive sizes of sailboats. So, Learn To Sail (ASA 101...costs around $700 and takes 3-4 days) should be in a 20'-25' monohull daysailers because these help you get the feeling of balance when sailing. Then Basic Coastal Cruising (ASA 103- costs around $700 and takes 2 days) should be done in a larger size (like 28'-36' monohulls) to see how these handle. Then, ASA 104 (Intermediate Coastal Cruising or sometimes called Bareboat Chartering costs $1600 and takes 4 days) and should be done in 38'-44' monohulls or catamarans. The 104 is a live-aboard course. Other schools offer week-long 101-103-104-114 "Combination" courses (costs $3,300-4,200/person) where you live aboard a catamaran for a week and cruise around with an Instructor. This is a LOT of material to absorb and test for and many students forget 70% within a couple of months. This combination-accelerated course is best for those with some prior experience who need to get it done fast or need Certification to charter in one of the 9 countries that require the 104 level Certification. Learning To Sail (the basic 101 type courses) in a large cruising catamaran is like learning how to drive in a big city bus! Not the best way to start out. "Plan B": let's say you have little experience and are NOT getting financing. I have a European A-rated insurer who will relax the qualifications BUT the deductible will be 10%-20%. Lenders will not allow this and usually require a 1-2% deductible, but if you are self-insuring the yacht and this deductible is acceptable then we can go with this policy until you get the experience to qualify for the other policies. ..........................................
WE HAVE SUSPENDED SAILING TRAINING TEMPORARILY AFTER HURRICANE IRMA DESTROYED ALL OF OUR DOCKS ...I RECOMMEND YOU TALK TO BLUEWATER SAIL,ING SCHOOL OF FT LAUDERDALE
MR WOLF, I'VE BEEN IN THIS BUSINESS FOR 32 YEARS. I "STARVED" FOR 5 YEARS. WE CAN'T GIVE AWAY THESE HARD-EARNED SECRETS WITHOUT A LITTLE CONSIDERATION....
Generally speaking how much would you charge to be a buyers broker? After watching a few of your videos, the thought of our going it alone is becoming a bit spooky.
Great job...Question: If I were to put a boat under contract in say Granada: And there turns out to a mess and I decline to buy-Is it a problem to get the deposit back?.. What is an appropriate amount of deposit?... What about a "Title Search"?...Thanks again for sharing...
Thanks for your feedback. If you use the North American contract I recommend, which has been in use since 1926, is based on English Common Law and is fairer to all parties than some of the European contracts, there is no problem getting your deposit back. The European sellers and brokers favorite "sport" is to see how much they can take advantage of a Buyer and some of their contracts are highly biased in favor of the Seller and his Agent. Since I am Licensed and Bonded in Florida and subject to the most stringent Yacht Sales regulations on earth it doesn't matter if the boat is in Grenada. A 10% refundable deposit is customary and under Florida rules it must be sent within 3 business days of both parties agreeing to all terms and conditions and signing the final Purchase Agreement. We usually get a Marine Documentation Agent to do the title work and prepare all the Closing paperwork.
The Mahe 36 is a very nice small cat. There is a 2 cabin 2 head layout that I believe makes more sense than the 3 cabin 1 head version. I'm not a fan of wet heads or sharing the "owners head" with the other cabins. If you're looking for 3 cabins I personally wouldn't go smaller than a Lagoon 380. If you're willing and able to go as far as Guadelope you may find a good Mahe 36 for under $150k.
You can clearly see that Gary knows his stuff and the fact that he is right to the point and clear. Love it.
I have watched a lot of videos on youtube and sailing and Cats in particular and these videos are a breath of fresh air. Just the info you need and no personal BS. Gary makes a clear case for hiring him when buying a Cat. Anyone can search listings but a good broker can help you save more than they cost!
Impressed by your candid and straightforward talk about the rules and expectations of buying a boat. I feel you would make an excellent Buyer’s broker and would definitely consider reaching out to you when the time comes. Also, I subscribed!
Thanks for sub. Hope to see you soon.
Hi Gary ,We be seeing you soon .Almost there @43 yo Retirement and Will be sailing full time .
Thanks for all this information to safe some money in the process.What is the best/easiest/cheapest way to go bluewater sailing regarding licenses,qualifications needed.What is the bare minimum requirement to go sailing,is an insurance compulsary and what does the insurance company ask for if I buy a boat and go crossing the oceans?
Love your approach to this.
Thank you for a open and honest discussion of the reality and pitfalls regarding a used yacht purchase. Could you explain the duties paid aspect of used yachts? I'm thinking there are US and foreign duties that could affect the final cost of ownership if the yacht is registered in the US.
Yes I can. Can you please contract me by eMail or phone? Thx
Gary, Thank you for sharing you vast knowledge.
G'day Gary, a blessing to find you while approaching the end of our Hotel quarantine detention here in Melbourne, Australia.
Just when I have had enough of dealing with brokers, in the quest to find our safe, sound & comfy passage maker, who does the Holy Spirit put in front of me....Gary.
I sure do appreciate you....
Regards, Silvano
Thank you! I'll chalk it up to divine intervention.
Great information..I will definitely contact Yachts International when I am ready to purchase my Cat.
Thanks Gary. Great information to know.
I would love to have one I could use as a cruise and party boat for tourists in the Caribbean.
It takes at least $300k to find something that works for that...if you eMail me I can send some ideas: bigyachts@gmail.com
Good presentation. I'd buy through you. Thank you for your time!
Hello we are going to be in the market of purchasing a catamaran and we are wondering if you could help us ? If you use signal we are on there , we’re from Canada. We’ll be heading to Florida in May while our home is up for sale if you’re available and where you are located?
Great series of vids Very
Thankyou
Please upgrade your website to make it easier to surf. It is difficult to load, pics are too small and just a clunky old style for user ease
Keep up the good work !
I'm looking to buy a blue water cruiser now. I would prefer a cat but a monohull will do if it is best deal. I have sailed monohulls since the 1960's. I have never sailed a cat. I am willing to travel any where in the world to get a boat and I will sail it from there. I'm not looking to fiance a boat. I'm looking at 50 -100K USD plus 40 - 50-K refit. I can do minor repairs myself. I'm looking for all major repairs plus purchase not to go over 150K USD.
Short Answer: Some kind of Center Cockpit, a CSY 44, or maybe some others.
Long Answer: email me yachtbrokerBK@gmail.com because there are about half a dozen variables to take into account.
Thanks,
Its the hat that gives him cred.
OH THANK YOU, I'LL WEAR THAT ONE MORE OFTEN
I have seen in boat listings that the taxes have either been paid or unpaid, if the taxes haven’t been paid by the seller how will that affect the new buyer? Thanks for the great video.
Who are the lenders in US that will do foreign loans?
Look forward to the answer of this question?
Gary - What are, (and is it important), the benefits to using a broker like yourself on the purchase of a new catamaran?
Hey Craig,
Did you know that most new yachts have large numbers of defects and most buyers don't catch them (until after the warranty period has expired) because they fail to have them surveyed by a tough accredited surveyor? I used to own Florida's largest sailing yacht dealership (Eastern Yachts) and we would sometimes see 50-150 defects found at survey! Sometimes it takes 3-4 months to fix and you can't use your new boat during the repair period.
Since I've been selling new and used yachts for 32 years now I can save you time, money and hassles...usually my commission is built into the price.
We need to talk soon
The smart thing to do is not buy a boat .. :) better to compete where you live and wait for a good boat vs chasing one down in Grenada... I've been looking since 2018 ...
great info, you need to add your email into the about section of you channel.)
What do you think of the adage : "if you can't afford to buy a boat without a loan, you can't afford to buy a boat" ???
Great video Gary ..Thanks sure hope we can get moving on our boat soon.....times a ticking
Gary, if a survey has been done on a yacht, and the sale falls through due to some defect or other, can you request that previous survey from the seller?
Hi Dane,
Yes sure you can but most buyers do not release the entire survey without getting some sort of compensation. After all, they spent $20-25/foot on it and the haulout probably cost $400-600. So, they try to market it to another buyer for 50%. Most insurance companies and lenders require that Sur vets be "fresh" which means max 90 days old so the value goes way down after that. You are more likely to get a free survey when it has "aged".
For new sailboat owners, with respect to insurance, is there a point in the process that will require some type of documentation that shows the buyer knows how to operate the sailboat? i.e. ASA course certifications and a minimum number of sailing hours for that type of vessel?
Hi Evan,
SAILING-TRAINING andTHINKING AHEAD ABOUT INSURANCE:
Yacht insurers have lost money most of the past 5 years and are getting a bit more difficult.When you buy a catamaran the insurance underwriter will want to see a "sailing resume" and they look for "comparable experience" and prior yacht ownership. Some require at least two years' experience of owning a yacht (under Florida law, for example, a yacht is defined as being 32' or longer). In some underwriters' eyes, a sailing monohull of similar size constitutes "comparable experience" to a catamaran. Powerboat experience helps but doesn't guarantee you will get coverage because dealing with storms on a sailing yacht is different. So, if you do not have this experience, we should talk about your situation "sooner than later".
A lot of newbies tell me "I want to wait and get trained on my yacht" BUT you will probably not be able to get any coverage and you will never get a loan. It just doesn't work that way. If you do not have enough experience they will probably say either "Sorry, we cannot insure you" or "We can insure you but you must have a licensed captain in command whenever you move the yacht" or "you must have a licensed Captain for the first 100 hours and when he/she signs a statement that you are qualified to operate the vessel then that restriction is lifted".Having to have a Captain is impractical and expensive. So, it's good to get some training and/or "comparable experience" sooner rather than later. It doesn't look good to the insurance company if you get Certified and then 2 weeks later you buy a yacht.
The best approach for newbies is to get Certified at an Accredited sailing school . After you get Certification it helps to charter the same size catamaran as you want to buy (and you may need a captain) for a week. I used to own America's oldest sailing school (Castle Harbor of Miami...founded 1949) and we have trained thousands of people to sail. After hurricane Irma destroyed all of our docks we suspended operations. Bluewater Sailing School of Ft Lauderdale has week-long live-aboard accelerated ASA "Combination" (ASA 101, 103,104, 114) courses in Ft Lauderdale, USVI and Bahamas and I recommend them ... Or you may have an ASA (American Sailing Association), RYA (Royal Yachting Association in Canada or Commonwealth countries) or US Sailing accredited school closer to your home.
It's better to do this as soon as possible and not wait. Some buyers think they will wait and get trained on their boat but this can cause big insurance complications...Instructors do not like doing classes on boats they are not familiar with and it is harder to find those that will. I do have three ASA-Certified Catamaran Cruising Instructors who will sometimes do this BUT USUALLY ONLY AFTER YOU HAVE COMPLETED AT LEAST ASA 101 AND 103.
ROUGHLY-SPEAKING, COSTS AND TIME-REQUIREMENTS:We think the best way to learn sailing is to take it in graduated steps with time to practice between each step . The steps are best done in progressive sizes of sailboats. So, Learn To Sail (ASA 101...costs around $700 and takes 3-4 days) should be in a 20'-25' monohull daysailers because these help you get the feeling of balance when sailing. Then Basic Coastal Cruising (ASA 103- costs around $700 and takes 2 days) should be done in a larger size (like 28'-36' monohulls) to see how these handle. Then, ASA 104 (Intermediate Coastal Cruising or sometimes called Bareboat Chartering costs $1600 and takes 4 days) and should be done in 38'-44' monohulls or catamarans. The 104 is a live-aboard course. Other schools offer week-long 101-103-104-114 "Combination" courses (costs $3,300-4,200/person) where you live aboard a catamaran for a week and cruise around with an Instructor. This is a LOT of material to absorb and test for and many students forget 70% within a couple of months. This combination-accelerated course is best for those with some prior experience who need to get it done fast or need Certification to charter in one of the 9 countries that require the 104 level Certification. Learning To Sail (the basic 101 type courses) in a large cruising catamaran is like learning how to drive in a big city bus! Not the best way to start out.
"Plan B": let's say you have little experience and are NOT getting financing. I have a European A-rated insurer who will relax the qualifications BUT the deductible will be 10%-20%. Lenders will not allow this and usually require a 1-2% deductible, but if you are self-insuring the yacht and this deductible is acceptable then we can go with this policy until you get the experience to qualify for the other policies.
..........................................
SOMETIMES THEY WANT TO KNOW ABOUT THAT. SOMETIMES NOT.
who are the certified surveyors for the virgin islands? Thanks!!
I’m in the USVI too. Have you tried Indepedent boat yard? Also the Harbor shoppers people may have a contact.
i wanna learn how to operate boat ? can you teach me and how much cost ?
WE HAVE SUSPENDED SAILING TRAINING TEMPORARILY AFTER HURRICANE IRMA DESTROYED ALL OF OUR DOCKS ...I RECOMMEND YOU TALK TO BLUEWATER SAIL,ING SCHOOL OF FT LAUDERDALE
I keep hearing about these three serious lenders who will loan on a overseas boat but who are they
MR WOLF, I'VE BEEN IN THIS BUSINESS FOR 32 YEARS. I "STARVED" FOR 5 YEARS. WE CAN'T GIVE AWAY THESE HARD-EARNED SECRETS WITHOUT A LITTLE CONSIDERATION....
Generally speaking how much would you charge to be a buyers broker? After watching a few of your videos, the thought of our going it alone is becoming a bit spooky.
Seller covers our commission, our services are no cost to the buyer. Thanks for watching!
Cool!
Excelente info. Thanks
thank you!
Where do I get your contact info? Your TH-cam channel doesn’t have your email.
bigyachts@gmail.com
Who are the 3 lenders you mentioned in this video?
Please contact me at bigyachts@gmail.com
Great job...Question: If I were to put a boat under contract in say Granada: And there turns out to a mess and I decline to buy-Is it a problem to get the deposit back?.. What is an appropriate amount of deposit?... What about a "Title Search"?...Thanks again for sharing...
Thanks for your feedback. If you use the North American contract I recommend, which has been in use since 1926, is based on English Common Law and is fairer to all parties than some of the European contracts, there is no problem getting your deposit back. The European sellers and brokers favorite "sport" is to see how much they can take advantage of a Buyer and some of their contracts are highly biased in favor of the Seller and his Agent.
Since I am Licensed and Bonded in Florida and subject to the most stringent Yacht Sales regulations on earth it doesn't matter if the boat is in Grenada. A 10% refundable deposit is customary and under Florida rules it must be sent within 3 business days of both parties agreeing to all terms and conditions and signing the final Purchase Agreement. We usually get a Marine Documentation Agent to do the title work and prepare all the Closing paperwork.
Again great information...thanks very much.
What’s your opinion of the Aventura 34 ?
No idea! It's a new boat so time will tell. FP Mahe 36 is comparable if you need something similar that's used.
The Mahe 36 is a very nice small cat. There is a 2 cabin 2 head layout that I believe makes more sense than the 3 cabin 1 head version. I'm not a fan of wet heads or sharing the "owners head" with the other cabins. If you're looking for 3 cabins I personally wouldn't go smaller than a Lagoon 380. If you're willing and able to go as far as Guadelope you may find a good Mahe 36 for under $150k.
Reaffirmation. Happiest days of a boaters life. The day they buy and the day they sell.
Step one, make half a million a year.
who are the lenders in US that will do foreign loans?
Please contact me by eMail for this...it changes every few months