For an example of what jsscheiff is talking about
I looked at a 40' Defever. Due to a failed hose, the insurance
company had completely replaced everything in the engine
room, except the engines which pulled out and just cleaned up and painted, as they checked out OK. New genset, A/C, water
heater, battery charger
, etc. All brand new. Wiring
was done in wire managers up at the sole. Very professional installation
. And the price was right - around $50k (very good for back then).
I figured it would have been checked out carefully before putting all that money
in it. So I felt pretty good about it.
I flew down for the survey. The surveyor
got to the boat 15 minutes before I did. He was leaning against the boat. "Well, I can do the whole survey if you want, but I can save you some money and stop right now."
Turns out the stringers were rotten. And the bulkheads below deck
as well. The boat was worth a negative value.
I can't imagine the people taking out the engines and replacing them without noticing that the stringers were just hollow shells of fiberglass
My conclusion? That $300 I spent on a survey for a boat I walked away from was possibly the best $300 I have ever spent.