So – you’ve found the boat of your dreams in the boating adverts and you’re wondering what comes next in the purchasing process. The following notes will hopefully help in unravelling this mystery.

Contact Ensign by phone, mail or e-mail for any other information that you require so that you can determine whether this boat is as you expect. Make an appointment with Ensign to inspect the vessel.  If you do make an appointment, you will receive more of the broker's attention.

You should use the initial inspection as an overview. Ask yourself; does it look as expected from outside? Does it feel like your style of boat on the inside? Has it been properly looked after? Remember: if the vessel is selling for a bargain price, there will more often than not be a reason for the price reduction. Ask yourself if the obvious work needed for the boat to be in good condition warrants the low price.

If the inspection confirms that the boat meets your needs, you will need to secure the boat by placing a deposit. The deposit is subject to you getting a satisfactory survey (out of water inspection) and satisfactory test sail/run. The deposit will be refunded to you if you are not satisfied.  However, charges for the slipping and survey inspection costs are not refundable.

Surveyors charge between $14 and $20 per foot of boat length.  Engine and/or electrical inspections are usually charged by the hour or have a set charge per engine.  Inspections vary depending on number of engines, time taken, etc.  These inspections are necessary and worth the cost since most insurance companies won't insure the boat without a survey. There is no warranty on used boats!

The purpose of the test sail/run is primarily to:

1. Ensure that motors start and run normally, go ahead and astern.  Don't overheat on the test.
2. See if instruments function normally.
3. Make sure the steering systems function normally.
4. Ensure that sails (where applicable) hoist properly and all sailing aids (winch handles, sheets, shackles and running rigging) are aboard the vessel.

Ensign will negotiate with the vendor to allow for or make good any discrepancies discovered during the inspections. Bear in mind that you are not buying a new boat and negotiation will depend on the sale price.

At this stage, Ensign will prepare a “Offer to Purchase and Sales Agreement" which will present all of the required details of the sale (e.g. buyer and seller’s name, the agreed purchase price and a settlement date). Both the buyer and seller will need to accept and sign this document.

If you want to take possession of the boat on the settlement date as indicated on the “Offer to Purchase and Sales Agreement”, you will need to settle with cleared funds. If not, allow three days for the funds to be cleared. This includes bank cheques.

You now own the boat of your dreams!
There are a few other things to take note of:

1. You will receive a settlement statement, registration papers and gas certificate (where applicable) for the boat. Take these documents to your nearest Queensland Transport office to transfer the boat registration into your name. There is a fee of $19 for this transfer.
2. There is no stamp duty payable on the transaction.
3. It is recommended you take out a comprehensive insurance policy at time of settlement. Engine and gear box warranties can be bought from warranty companies. Ensign will give you a quote for this cover.

Surveyors

Whilst Ensign cannot recommend any particular surveyor, we are more than happy to make the arrangements and liase with your chosen surveyor to ensure that the lift and inspection run smoothly.

Below we have listed a few of the surveyors in the local area.  This list is by no means a recommendation or a definitive list.

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