Canadian Yachting April 2021 - 48

FEATURE ARTICLE

WHY USE A
BOAT BROKER?

Here is a 2002 Doral 330 which was offered at $73,000. This boat has experienced very little depreciation recently and Rob commented that many
models have risen in value due to demand.

Get the boat you want and avoid problems and disappointments
By | Andy Adams

L

ast summer there was tremendous interest in buying a boat to
have fun in the restricted world of
COVID19. People hauled boats to the end
of their driveways with " For Sale " signs.
Sailboats and cabin cruisers appeared in
Kijiji and Craigs List and it sounds like
most were sold to new boaters. But, are
they happy owners now?
Last fall we interviewed Rob Hopkins,
General Manager at Bayshore Yacht
Sales. Bayshore operates at six Georgian
Bay marinas and are partnered with Maple
Leaf Marinas LP.
Rob was quick to agree that web sites
like Kijiji can work for boat buyers, especially at the lower price levels for private
sellers and buyers looking for a deal.
While people can buy and sell on their
own, Rob noted that it's surprising how
much time and risk can be involved. In
the summer of 2020, the market was hot,
sellers often had to do multiple showings which can be very time consuming.

48

Working with a broker will save time
and headaches. If you're working with a
broker who's on site at the marina you're
dealing with, or where the boat is located,
they will often have a mechanic, a list of
surveyors, or resources to estimate repair
costs.
For more expensive purchases, the broker can often help with financing. Private
sellers generally cannot.
TRADE INS, INSURANCE AND
CONFIDENCE
What if you have a trade-in? Private
sellers rarely want to take a trade-in, but
brokers can facilitate that.
Another thing that brokers can offer is
a lien search. It's essential that the buyer
knows the boat is free and clear. Rob
shared the story of one client who did not
complete a lien search during their purchase, only to find out that the boat was
stolen, and a bank had a registered lien on
it.

CANADIAN YACHTING | APRIL 2021

A knowledgeable broker can provide
a lot of hand holding and confidence in
a deal involving a significant amount of
money. You don't want to have to use
your house as collateral for bridge financing. That is just not a good idea.
Expect that a good broker will be familiar with all the ship's systems and can
review them with the potential buyer. Rob
is even able to set up a professional captain to help the buyer feel comfortable and
confident at the helm, or in some cases
move the boat to its new home in Canada
or the U.S.
Given the comparatively huge size of
the U.S. market, some buyers will find
the boat of their dreams in the U.S. A professional broker can best handle the complexities of a cross-border deal.
CONTRACTS
The contracts and paperwork are very
important too. In Canada and the U.S.
there is the Certified Professional Yacht



Canadian Yachting April 2021

Table of Contents for the Digital Edition of Canadian Yachting April 2021

AT THE HELM: MERCURY INTRODUCES A 600 HP OUTBOARD!
TRAVEL DESTINATION: BOATING IN THE BIRTHPLACE OF CONFEDERATION
TRAVEL DESTINATION: A “BUCKET LIST” CRUISE TO THE NORTH CHANNEL
POWER REVIEW: LIMESTONE L-200R
THE PORT HOLE: APRIL 2021
SAIL REVIEW: BENETEAU OCEANIS 40.1
FEATURE: WHY USE A BROKER?
CROSSING THE LINE: JUST BECAUSE WE CAN…
Canadian Yachting April 2021 - Intro
Canadian Yachting April 2021 - Cover1
Canadian Yachting April 2021 - Cover2
Canadian Yachting April 2021 - AT THE HELM: MERCURY INTRODUCES A 600 HP OUTBOARD!
Canadian Yachting April 2021 - 4
Canadian Yachting April 2021 - 5
Canadian Yachting April 2021 - 6
Canadian Yachting April 2021 - 7
Canadian Yachting April 2021 - TRAVEL DESTINATION: BOATING IN THE BIRTHPLACE OF CONFEDERATION
Canadian Yachting April 2021 - 9
Canadian Yachting April 2021 - 10
Canadian Yachting April 2021 - 11
Canadian Yachting April 2021 - 12
Canadian Yachting April 2021 - 13
Canadian Yachting April 2021 - TRAVEL DESTINATION: A “BUCKET LIST” CRUISE TO THE NORTH CHANNEL
Canadian Yachting April 2021 - 15
Canadian Yachting April 2021 - 16
Canadian Yachting April 2021 - 17
Canadian Yachting April 2021 - 18
Canadian Yachting April 2021 - 19
Canadian Yachting April 2021 - 20
Canadian Yachting April 2021 - 21
Canadian Yachting April 2021 - 22
Canadian Yachting April 2021 - 23
Canadian Yachting April 2021 - 24
Canadian Yachting April 2021 - POWER REVIEW: LIMESTONE L-200R
Canadian Yachting April 2021 - 26
Canadian Yachting April 2021 - 27
Canadian Yachting April 2021 - 28
Canadian Yachting April 2021 - 29
Canadian Yachting April 2021 - 30
Canadian Yachting April 2021 - THE PORT HOLE: APRIL 2021
Canadian Yachting April 2021 - 32
Canadian Yachting April 2021 - 33
Canadian Yachting April 2021 - 34
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Canadian Yachting April 2021 - 40
Canadian Yachting April 2021 - 41
Canadian Yachting April 2021 - 42
Canadian Yachting April 2021 - 43
Canadian Yachting April 2021 - SAIL REVIEW: BENETEAU OCEANIS 40.1
Canadian Yachting April 2021 - 45
Canadian Yachting April 2021 - 46
Canadian Yachting April 2021 - 47
Canadian Yachting April 2021 - FEATURE: WHY USE A BROKER?
Canadian Yachting April 2021 - 49
Canadian Yachting April 2021 - 50
Canadian Yachting April 2021 - 51
Canadian Yachting April 2021 - 52
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Canadian Yachting April 2021 - 58
Canadian Yachting April 2021 - 59
Canadian Yachting April 2021 - 60
Canadian Yachting April 2021 - 61
Canadian Yachting April 2021 - CROSSING THE LINE: JUST BECAUSE WE CAN…
Canadian Yachting April 2021 - Cover3
Canadian Yachting April 2021 - Cover4
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