Delicate subject.......

[tellico]

You're one who is supposed to be answering these questions, not asking them!

If I'm ever dumb enough to buy another old boat, I'll negotiate the cost of the survey into the deal. If it reveals a bunch of crap that neither I nor the seller are aware of, the seller will pay for the survey unless he's willing to address the problems. Why should I spend a bunch of money to point out things wrong with someone else's boat unless they plan to fix them or will adjust the selling price accordingly?

Just did a slightly different version of above on my last (now dead) pending purchase. Broker was surprised with my ask, but the Seller went with it - a good sign. Deal died before survey for other reasons, so we did not have to cross that bridge. But after being burned on a bad survey and out of pocket costs, I am much more conservative in my approach. Ironically, in that bad survey deal, the same surveyor did a subsequent survey on the same boat (and the 2nd buyer walked too!) So only the surveyor made out ... I doubt second survey required as much effort.

 

[Freeebird]

Just did a slightly different version of above on my last (now dead) pending purchase. Broker was surprised with my ask, but the Seller went with it - a good sign. Deal died before survey for other reasons, so we did not have to cross that bridge. But after being burned on a bad survey and out of pocect costs, I am much more conservative in my approach. Ironically, in that bad survey deal, the same surveyor did a subsequent survey on the same boat (and the 2nd buyer walked too!) So only the surveyor made out ... I doubt second survey required as much effort.

Honestly, if a seller wouldn't agree to such terms, I would walk. It could only mean two things, they know there is something wrong with the boat, or it could be they owe too much on it to where they couldn't afford to put any more into it regardless. Either way, you could be asking for problems. Ask me how I know as the latter was the case when I bought my 58.

I had a previous, years old survey from where the seller bought it, and the major items had been addressed while minor ones were still there. After seal trials, I negotiated the price to a point where I thought I would be safe, and I knew the seller had no more to give. With that, we both brought checks to the closing. Now it's one of life's great unanswered questions... would a surveyor have found anything that let me know I was gonna lose an oil line and crack a liner?

I don't dwell on it as it was just one of those things. I mean think of how much fun you guys would have missed if none of that ever happened.

 

[foleyjt]

Yea, excellent point Randy. In fact I think you should start an HOF version of a "Go Fund Me Page"
so you can purchase 58 Part 2, and keep this site rolling. It seems to be lacking certain
character lately.

 

[Freeebird]

Well, there is a 58MY down in Chattanooga with a fair amount of water damage as I understand it...

 

[oscarvan]

Hmmmm... was drooling at that on YachtcrackWorld....... Thank you.

Interesting thought.....:

"Well, if your boat is as good as you say it is, you surely won't mind paying for the survey right?"

Only problem with that is the fiduciary obligation of the surveyor..... as in, "Who's paying me?"

 

[Freeebird]

Hmmmm... was drooling at that on YachtcrackWorld....... Thank you.

Interesting thought.....:

"Well, if your boat is as good as you say it is, you surely won't mind paying for the survey right?"

Only problem with that is the fiduciary obligation of the surveyor..... as in, "Who's paying me?"

It won't (shouldn't) matter who pays for the survey, although there are "buyer" surveyors and "seller" surveyors. I would never let a seller pick the surveyor, but the only way the seller would have to pay would be if the boat had problems he refused to address.

 

[34Hatt]

If they don't disclose issues your survey revealed, I would kick some... uh, sand. Might even be fun to set up a straw purchaser, buy the boat, then sue them for fraud if they fail to disclose the known issues.

Maybe we should call Sparky that job is right up his alley

 

[Freeebird]

Nah, we need Sparky's son... you know, the attorney.

 

[jim rosenthal]

Doesn't the buyer always pay for the surveys, and don't the surveys belong to the prospective buyer? I've never seen it any other way. But I've only owned four boats, and my last purchase of one was in the prior century.

 

[bigbill]

i'm with you jim. that is the way i have always seen it done in the past and now that i am doing brokerage that is the only way i have seen it done. i had a client survey a boat and turn it down. i have never seen the survey, it doesn't belong to me, it belongs to him, he paid for it.

 

[Freeebird]

Everything is negotiable. As for the survey itself, it will obviously belong to whoever paid for it, and they can do with it as they please. Some would frame it while others would burn it.

 

[bobk]

Everything is negotiable. As for the survey itself, it will obviously belong to whoever paid for it, and they can do with it as they please. Some would frame it while others would burn it.

Or sell it to the next prospective buyer at a big discount.

Bobk

 

[Freeebird]

Or sell it to the next prospective buyer at a big discount.

Bobk

The trick would be finding the next prospective buyer. I guess you could just hang out on the dock with survey in hand.

"Pssst... Hey buddy, wanna buy a slightly used survey?"

 

[oscarvan]

The trick would be finding the next prospective buyer. I guess you could just hang out on the dock with survey in hand.

"Pssst... Hey buddy, wanna buy a slightly used survey?"

Back to my original post. Unfortunately we are all after the same thing.....