10 Years to Purchase a Trawler!?!

When we purchased our 2012 Regal 35 Sports Coupe (M/V Silver Lining) on April 19, 2023, we had dreams then of being trawler owners. Often saying, “every boat is for sale at the right price”. Always browsing the market. We just never expected it to take so long! Our naive proof was being in an oversized slip (50′ slip for LOA 38′ for years (Slip E9) at Skipjack Cove Yachting Resort & Marina (Georgetown, MD). We never wanted to be a two-boat owner but seized the opportunity when a 2000 Jefferson 53′ LRC Pilothouse hit the market. On April 24, 2019 we traveled to Brunswick Landing Marina (Brunswick, GA) where we not only met with the (dual) Listing Agent but even had the opportunity to spend reasonable time with the owners. We finally found our gem!

3 Staterooms & 2 Full Heads
Diesel
East Coast Location
Engine Room Access
Full Exterior Walk Around
Flybridge
Interior Flow
Portuguese Bridge
Price Point
Raised Pilothouse & Gant Windows
Storage Space
Washer & Dryer

We proceeded with a Purchase Agreement and quickly became emotionally and financially invested. Returning on May 12, 2019, for our two-day appraisal: Day 1, the vessel, and Day 2, the haul out and sea trial. By the end of Day 1, our Appraiser advised of several red flags and ultimately that it was not appraising for the agreed-upon purchase price. Our bubble of bliss popped! Of course, we immediately spoke with our (dual) Buyer’s Agent. During the meeting on Day 2 as planned, our (dual) buyer agent unprofessionally verbally charged our hired surveyor. We were willing to overlook the red flags but could not move past the appraised value, and the Sellers weren’t willing to renegotiate the purchase price. So, we were forced to cancel the haul-out and sea trial. As we were leaving the dock, we’ll never forget that our (dual) buyer agent followed our heels to say, you’re going to regret this as I have many other interested Buyers. This was the moment that validated our initial concern and reservation in using a Dual Agent.

Buyers want the lowest price and best representation.
“Double Dipping” (aka: Dual Agent/Dual Agency) is representing two separate parties (Buyers & Sellers) in the same transaction.
Sales Agent commission is paid by the Sellers.
Sellers want the highest price and best representation.

On Friday, 4/22/22 (FSBO), we sold our 2012 Regal 35 Sports Coupe (M/V Silver Lining) and continued to seek a turn-key trawler within the next year or so. Sadly, there was nothing on the market (Boats, Boat Trader, Curtis Stokes, Denison, Jeff Merrill Yacht Sales (JMYS), Marine Trawler Owners Association (MTOA), National Liquidators, or Yachtworld) of particular interest until April 2023.

On Thursday, 5/18/23 we finally became trawler owners on a Nordhavn 47′ (N4701)! Our initial showing on Saturday, 3/4/23.