Buying a hatteras

[Felix]

In process of negotiating with owner. Although a price has not been agreed on would anyone recommend getting a survey (hull and engine) prior to getting a contract? I understand that the sequence is usually negotiate and agree on price , contract, get sea trial survey and then depending upon survey finalize the price and complete purchase. Owner will not come down in price and the admiral said I could get a survey and then see if asking price is reasonable.
Thanks for your advice.
Felix

 

[Pascal]

That won’t work for you because by the time you have a survey, the seller knows you re already out a few thousands in survey costs and has the upper end.

 

[brettportzer]

It seems sort of weird to negotiate the price and everything and then determine if everything works...

But, I think the point is that that is the selling price, including everything that they say works, working.

And then if it doesn't work as advertised, then when IF the surveys actually tell you that, then you can negotiate on how to proceed.

We chose to negotiate the price lower based on a couple of issues, and that worked for me.

However, we would rather have had those items work and have paid the full price.

Friends of ours negotiated to have deficient items fixed, and the repair jobs were poorly done and ultimately ended up ruining their generator.

But, I think the main point is, you are negotiating the purchase of a boat for a price, assuming it works as advertised.

You don't WANT to have to negotiate the priced down based on poor survey results, imo.

 

[SEVEN]

Price comes first. Survey then negotiate. If they’re still not willing to lower the price to fix items found on the survey then it’s up to you to make the decision whether to buy or not buy. Do not under any circumstance spend your hard earned money on a survey when you don’t even know the price of the boat.

 

[jmooney]

I would not want any repairs done by the seller. Same way with buying a house. The work will be shoddy. Adjust the price. I would double my estimates for repairs , with an older boat you will find more wrong as you dive into fixing things.

 

[Felix]

Thank you
appreciate the responses.
Felix

 

[Scarlett]

I am a surveyor and I always recommend that buyers do an engine survey before they pay me to do a regular survey. Most brokers I deal with want to do both surveys on the same day so they don’t have to invest 2 days or more in surveys, but this is wrong. If the engines do not survey well then why also pay for the regular survey.

 

[cww]

I wouldn't pay for surveys until I already have a contract. I also don't pay for surveys unless the seller is willing to allow a brief water test. If the boat can't make it 20 minutes without the engines overheating, excessive vibration, or something or another breaking, then what's the point in paying for surveys. Everyone will tell you that's some big no-no, but I haven't had trouble with people accommodating that request over the years. It's how I bought my last probably 5 boats.

 

[MJER]

Agree with the last couple posts. I'd at least expect the seller to fire up the engines and prefer willingness to take her out for a short (even 15 min) trip. Don't need to get up on plane, just to make sure systems operate and it will make it on an official sea trial. Then negotiate price. Then do engine and primary surveys.

 

[Retired1]

Agree with the last couple posts. I'd at least expect the seller to fire up the engines and prefer willingness to take her out for a short (even 15 min) trip. Don't need to get up on plane, just to make sure systems operate and it will make it on an official sea trial. Then negotiate price. Then do engine and primary surveys.

I understand your logic, which is 100% logical, BUT you have no idea how many people who have no intention of buying anything show up at boats wanting a free boat ride for their family (with even free beverages included if lucky) then don’t want to leave afterwards. Brokers nip that shit in the bud right quick. Those people ruin it for everyone else.

 

[MJER]

I understand your logic, which is 100% logical, BUT you have no idea how many people who have no intention of buying anything show up at boats wanting a free boat ride for their family (with even free beverages included if lucky) then don’t want to leave afterwards. Brokers nip that shit in the bud right quick. Those people ruin it for everyone else.

Haha, yep I hear you. I did that for a few months with my old Sea Ray, it got old quick. Caused me to probably sell it lower than I should have just to quit with all the joy riders.

 

[Pascal]

By the time someone has negotiated a contract and given a 10% deposit, the odds of them looking for a joyride are pretty low. Especially on bigger boats where chances are the buyer is from out of town…

It s pretty standard to include a short sea trial to verify boat is worth surveying before the full fledged sea trial during surveys.

 

[Retired1]

By the time someone has negotiated a contract and given a 10% deposit, the odds of them looking for a joyride are pretty low. Especially on bigger boats where chances are the buyer is from out of town…

It s pretty standard to include a short sea trial to verify boat is worth surveying before the full fledged sea trial during surveys.

Talking about people wanting a sea trial before negotiating a price, much less even just writing a check. What buyer isn’t from out-of-town? It was pretty amazing all the “buyers” wanting to see boats on short notice when actually they were just killing time til their Cruise Ship arrived. It certainly wasn’t standard with me, or any brokers or owners I know to give a “short sea trial” before survey day. The logistics of owners, captains, being available on short notice squashed that idea even if a real buyer. You’re right there on the bay, but boats up the Miami River and especially the New River are propositions that require many hours and $$. Heck, the logistics of arranging the schedules of surveyors, buyers, sellers, and haul out timing isn’t usually any quick thing either. And that’s after a negotiated price, amd a deposit sitting in escrow.

 

[krush]

Make me an offer, when we finally agree on a price, give me a deposit and we go for a ride. I like driving my boat.

 

[cww]

Talking about people wanting a sea trial before negotiating a price, much less even just writing a check. What buyer isn’t from out-of-town? It was pretty amazing all the “buyers” wanting to see boats on short notice when actually they were just killing time til their Cruise Ship arrived. It certainly wasn’t standard with me, or any brokers or owners I know to give a “short sea trial” before survey day. The logistics of owners, captains, being available on short notice squashed that idea even if a real buyer. You’re right there on the bay, but boats up the Miami River and especially the New River are propositions that require many hours and $$. Heck, the logistics of arranging the schedules of surveyors, buyers, sellers, and haul out timing isn’t usually any quick thing either. And that’s after a negotiated price, amd a deposit sitting in escrow.

That's not what I said though. I go ahead and negotiate the price and pay the deposit, but before I am going to spend $5k-10k or more on engine surveys and regular surveys I will insist on taking the boat out briefly. The seller or broker can drive I don't care, and nobody has to make me free drinks, I just want to see that the major stuff works first. Surveys cost good money these days. If the boat has excessive vibration, won't plane for a couple minutes without the engines overheating, generator doesn't work, or any of the common stuff that's usually misrepresented on listings, then what's the point in paying a surveyor to spend 2 days finding that out. I have never had somebody say no to that. If they did, I'd reject the boat and walk away, contractually that's my right as I'm still within the inspection period.

 

[Pascal]

Exactly. Someone who goes thru the trouble of viewing a boat, negotiate, put down a deposit isn’t looking for a joyride.

As to the time it takes to go down the Miami river, that’s no big deal. 45 to 60 minutes max each way at idle speed… 10 gallons of fuel if even that. Same with FTL’s new river. Yes it gets a little more complicated with boats over 100/120’ as they usually get towed but no big deal under that.

If an owner isn’t willing to spend a couple of hours to sell his boat, he can wait for another buyer