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Old 03-01-2015, 15:10   #16
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Join Date: Jul 2014
Posts: 333
Re: Caveat Emptor?

Like buying a home,escrow,survey,attorney.
As far as a contract-if wording makes you uncomfortable or is unreasonable- CHANGE IT !
Honestly,if builder won't or doesn't change unreasonable wording -THIS IS TELLING !
On the other hand,if builder has integrity and product is quality-he will stand by it and reword contract.Spell it all out !
A builder bankruptcy is quite common.Clears the slate of past failures with customers or suppliers.Contract wording would "travel" with the "assets" a builder would transfer to any "newco" or company buyer.Additionally,any "dealer" has at least some legal responsibility --I.E.,an auto dealer.This where in all likelihood repairs will be made.Time limits for repairs should be considderred for said repairs in contract.For example,dealer takes a year to complete a repair......

All the Best

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Old 03-01-2015, 15:22   #17
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Join Date: May 2008
Location: cruising SW Pacific
Boat: Jon Sayer 1-off 46 ft fract rig sloop strip plank in W Red Cedar
Posts: 13,483
Re: Caveat Emptor?

There was recently a thread about the demise of the Shannon yacht company. One or more folks who had deposited significant sums lost a lot of money. Apparently there had been a history of financial "awkwardness" with Shannon, but folks just went ahead and trusted them.

To me, if there is any feeling of distrust with the vendor one should either withdraw or employ a clever attorney to protect one's investment. It is a lot of money, and there are so many ways the deal can go astray. And a survey is definitely worth while, even on a new boat... perhaps especially on a new boat. Consider the sad case of the recent loss of the new 42 foot cat (I forget the name of the builder). In that case, it seems that the rudder assemblies were poorly designed and executed, and it lead to the loss of the boat. A good survey might well have disclosed the fault before departure.

Caveat Emptor? Hell yes!


Jim and Ann s/v Insatiable II in the Pittwater for a few weeks
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