JMYS Tools for Buyers
As a trawler buyer you deserve to have a forward thinking broker on your team who can provide you with the tools to help you analyze the market, evaluate your choices, preview the top contenders and make an informed offer on your top selection. JMYS uses a systematic approach to the trawler buying process that is individually tailored for each client as no two transactions are ever the same. Helping you understand the market, prepare for ownership and identifying the best trawler value for your intended use is where JMYS excels.
The following tools represent an outline of our professional approach and will be implemented in a collaborative effort to help you make an informed purchase and to ensure you not only find the best value, but have a coordinated team effort working on your behalf. This is a proven system that guides you through the trawler purchase process and helps to make sure that you are prepared for ownership.
Understanding Your Goals – First and foremost JMYS wants to make sure we know what you want to accomplish with your trawler. In order to help our clients find the best boat for their intended cruising, JMYS has developed a detailed questionnaire/interview to organize a purchasing game plan that will lead to a successful acquisition. We use your client profile form to methodically review all of the important decision criteria in order to help us match you up with appropriate trawlers that meet your preferences for budget, size, features, location, etc. This important input enables JMYS to take your data points and use our experience to help guide your selection. We listen more than we talk…
Market Evaluation – Determining the best brands and models for your type of cruising is an important first step. Our initial consultation will focus on learning about your boating experience and what you intend to do after you take possession. Knowing this up front saves lots of time and effort as we can narrow our focus to finding you appropriate trawlers for consideration.
Spreadsheet Analysis – Once we know the particular trawler model that you desire, JMYS can create a detailed Excel spread sheet that cross references the appropriate boats on the market so you can have an accurate side-by-side comparison of the overall equipment inventory of those trawlers that are listed for sale. The spread sheet will include model year, hull number, engine hours, layout, features and equipment plus much, much more. Gear that you may need to add after the purchase will also be reviewed so that you can create both a purchase budget (cost of the boat)and an improvement budget (upgraded navigation electronics, house wares, galley appliances, etc.) for items necessary to add after closing to make sure your trawler is properly equipped for your type of cruising. These spreadsheets are constantly updated and refined.
Product Knowledge – JMYS spends time with you throughout the entire purchase sequence of events to help educate and inform you about all of the important details that each trawler includes. Think of this as on-the-job training that will give you much more confidence, especially learning more about features and equipment that you are not already familiar with.
Previews and Inspections – We may need to travel to get aboard your finalists to see how the boats look in person and compare the equipment and features we find with the details typed up in the listing specifications. A written summary of punch list items that may require attention and questions for the seller will be developed. Seeing how you fit and how easily you can move about and see through the windows will confirm we are on the right track. During these visits we will take hundreds of digital photos in order to capture each specific trawler’s condition and these images will serve as an electronic inventory of our visit enabling us to review the details long after we have stepped off the boat.
Budget – If you are paying cash this part is easy. If you are going to take out a loan, JMYS can introduce you to experienced marine lenders who can help you figure out how much boat you can comfortably afford. Another important factor to review is annual ownership expenses – insurance, mooring, maintenance, etc. You need to establish a realistic expectation of what your yearly costs will be.
Insurance – JMYS has several excellent insurance providers we can direct you to who specialize in marine insurance. Protecting your investment with appropriate coverage is essential for your peace of mind.
Purchase Agreements –All JMYS offers are prepared using formal purchase agreements based on the CYBA (California Yacht Brokers Association) suite of forms. Each page is initialed by buyer and seller and all business is conducted in writing. We also include a separate list of important conditions – Addendum One – which contains specific instructions regarding the purchase and detailed questions about items that we require the seller to disclose (For example, Has the trawler ever been struck by lightning? Flooded? Have there been any major repairs?, etc.) and attach the internet listing specifications as an Addendum Two to make sure all parties know what is included in the sale. Most purchase agreements specify that the transaction will conclude within thirty days.
Banking – Your earnest money deposit (typically 10% of the offer price) is secure in our bonded brokerage trust account. We stipulate that all funds are distributed through wire transfers to make sure payments are timely and paid in full.
Due Diligence – The on board evaluation process typically takes two or three days. We will do a trial run with the owner or owner’s representative operating the vessel to see how the trawler handles and test all of the equipment. JMYS has created a list of questions to help you select an accredited marine surveyor (we recommend SAMS and NAMS) and we advise our clients to hire a qualified diesel mechanic to review the on board machinery. JMYS assists buyers in scheduling an appropriate haul out yard and requires the seller to be responsible for haul out insurance. JMYS takes notes and photos for follow up review supplementing the information the surveyors discover.
Inspector – JMYS has a long standing professional relationship with Steve D’Antonio of Steve D’Antonio Marine Consulting (SDMC) and we strongly advise our buyers to contact Steve about using his services for any purchase.
Time Line – JMYS is unique in the effort we take to create a detailed time line which identifies due dates and responsibilities for everyone involved to stay on task and on schedule. This proprietary document is continually revised during the transaction and also includes all of the key contacts involved, an invaluable resource that keeps us on track to fulfill our obligations and to hopefully avoid something slipping through the cracks.
Final Decision – Only after this carefully evaluation process can JMYS help you advise you to accept or reject the trawler. All trawlers are sold “As-is, where-is” but often times a survey “surprise” is justification for a price adjustment with a motivated seller. Sometimes the best answer is to walk away and try again on another boat. We are more interested in your satisfaction and happiness than in turning a quick sale. We go into every purchase with the mindset of a silent partner and if we have any reservations about the deal at anytime during the transaction we will let you know our thoughts.
Training – Our favorite part is spending time training with you aboard your trawler. We will go over all of the on board systems to make sure you are ready to take off on your own. Training is typically a multiple day indoctrination involving systems operations and general familiarization. We will cover basics like fresh water and black water plumbing, electrical panel and shore power, pilothouse navigation and communication, boat handling – docking and anchoring, tender launching and retrieval, maintenance logs, USCG compliance, “Dialing-In” your trawler suggestions and have a complete, overall systems instruction. JMYS also prepares several important check lists – start up, engine room checks, standing watch and shut down at arrival. We will also discuss tools, spare parts, cleaning supplies and the essentials you need to look after your trawler with good new habits to reflect your pride of ownership.
Meeting Fellow Trawler Owners – JMYS has cultivated an extensive network of trawler owners and boating friends who are out doing the same type of cruising you will be doing. We will introduce you to other boaters and offer membership recommendations of associations and organizations you may want to join.
JMYS.com – Our website is a great resource for buyers. Our professional approach to each phase of the purchase process helps to make for smoother transactions and happier buyers. We are constantly learning and evolving our business model to stay current with developments in the boating marketplace and the trawler community. It is our great pleasure to help buyers every step of the way and this attention continues well after the sale is complete. If you are ready to get started, please get in touch with any of our sales team members – you can read their bios and call or email them directly by going to the contact page of JMYS.com.