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Old 26-08-2013, 14:00   #1
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Do I need a survey on 2 year old boat?

I am wanting to start the purchase of a 2011 Lagoon 400 and I want to know if a boat this new needs a survey? Do all boats of any age need it, or because it is newer would it be wise to buy with no survey?


I am sure I can ask the Survey companies, but they would want to sell a full survey I would think. Ready for your opinions!

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Old 26-08-2013, 14:08   #2
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Re: Do I need a survey on 2 year old boat?

I would have it surveyed. I would have a new boat surveyed, too.
I just want to know it is what it is supposed to be, but that is me.

good Luck
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Old 26-08-2013, 14:11   #3
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Re: Do I need a survey on 2 year old boat?

Skip the survey only if you really like expensive and time consuming surprises.
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Old 26-08-2013, 14:37   #4
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Re: Do I need a survey on 2 year old boat?

Couple of thoughts. Why is a barely used boat on the market so soon after purchase? Does your insurance company require it?

Personally I would not purchase any boat(of decent complexity) without a full survey from myself and then a professional.

My Pearson 28 was simple enough for me to do my own survey. My Ericson 35 and Caliber 40 I wanted a pro after I had done my own survey.
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Old 26-08-2013, 14:55   #5
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Re: Do I need a survey on 2 year old boat?

if you are financing or insuring it, the survey may be required. In two years, a lot of things can break, fray, or be damaged. Presumably the value of the boat is still high enough that a survey might be a good idea.
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Old 26-08-2013, 15:24   #6
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Re: Do I need a survey on 2 year old boat?

Unless you are so confident of your own capability to survey it thoroughly, accurately, and likely to find anything at all wrong with it, hire the professional, or possibly your own insurance company could "lend" you one of its surveyors?

IMO, it can be a false economy to not have a vessel surveyed prior to purchase. Now, the hard part is to find a good and qualified surveyor. There has been a recent thread on that subject.
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Old 26-08-2013, 16:50   #7
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Re: Do I need a survey on 2 year old boat?

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Originally Posted by Ann T. Cate View Post
Unless you are so confident of your own capability to survey it thoroughly, accurately, and likely to find anything at all wrong with it, hire the professional, or possibly your own insurance company could "lend" you one of its surveyors?

IMO, it can be a false economy to not have a vessel surveyed prior to purchase. Now, the hard part is to find a good and qualified surveyor. There has been a recent thread on that subject.
I was looking for a thread about surveying, but only found one about the engine. That was really helpful as well.
It sounds like the opinions are very supportive of having a survey. I am looking for a surveyor who is near the boat, so hopefully I can arrange that first.

The contract would be accepted but contingent on the survey then? Working without a dealer it makes it more of a mystery.
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Old 26-08-2013, 16:51   #8
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Re: Do I need a survey on 2 year old boat?

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Originally Posted by Mimsy View Post
Skip the survey only if you really like expensive and time consuming surprises.
Well, thank you for that! I am not a fan of surprises, so it might your advice is to be taken!
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Old 26-08-2013, 17:05   #9
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Re: Do I need a survey on 2 year old boat?

Quote:
Originally Posted by hellosailor View Post
if you are financing or insuring it, the survey may be required. In two years, a lot of things can break, fray, or be damaged. Presumably the value of the boat is still high enough that a survey might be a good idea.
It is over $300,000 so I think that is pretty high up there. Looks like everyone is giving me some solid advice in favor of the "don't be a sucker, get a survey"
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Old 26-08-2013, 17:15   #10
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I would get a survey even though I'm more than qualified to do it myself... You tend to fall in live with your decisions. It's cheap insurance.

Shop carefully for a surveyor. Great ones exist, aren't cheap, and are usually busy....

SB
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Old 27-08-2013, 00:06   #11
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Re: Do I need a survey on 2 year old boat?

Also when armed with an official survey you can then negotiate to have items fixed/replaced or the price varied (downwards) to allow for them. I also agree a 100% that choosing a good surveyor is of prime concern.

If possible be there during the survey to make sure that they do a very thorough job & you don't pay for time that wasn't spent. Don't ask me why I said that

A good surveyor will take photos of all contentious items & you should get a very comprehensive report. Even 2 year old boats have found to have signs of osmosis or underwater damage.

Yes any contract you sign upon deposit should be dependant on the results of the survey.

Also, if it's an ex-charter boat, here in OZ, it is required to be in survey & if you intend to keep the survey rating then they must be handed over complying to the respective rating & sea worthiness.

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Old 27-08-2013, 00:51   #12
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Re: Do I need a survey on 2 year old boat?

Yes, I'm very pro-survey for a boat of this expense and complexity. It also might be worthwhile to have a rigger check the rig and a good mechanic look at the engine(s) and related mechanical systems in more depth than a surveyor might be able to do.
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Old 27-08-2013, 17:12   #13
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Re: Do I need a survey on 2 year old boat?

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Originally Posted by gspeak View Post
Also when armed with an official survey you can then negotiate to have items fixed/replaced or the price varied (downwards) to allow for them. I also agree a 100% that choosing a good surveyor is of prime concern.

If possible be there during the survey to make sure that they do a very thorough job & you don't pay for time that wasn't spent. Don't ask me why I said that

A good surveyor will take photos of all contentious items & you should get a very comprehensive report. Even 2 year old boats have found to have signs of osmosis or underwater damage.

Yes any contract you sign upon deposit should be dependant on the results of the survey.

Also, if it's an ex-charter boat, here in OZ, it is required to be in survey & if you intend to keep the survey rating then they must be handed over complying to the respective rating & sea worthiness.

Dave
Dave, thank you for this! You seem to be knowledgeable about this.
Since I am buying from the owner, it is up to me to create a statement about what would be considered an issue from the survey. I need to create something specific about how serious of an issue would be needed to allow me to cancel the contract. I think he is nervous about me being able to negotiate after the survey. Do you have any ideas or experience with this?
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Old 27-08-2013, 17:14   #14
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Re: Do I need a survey on 2 year old boat?

Quote:
Originally Posted by rgscpat View Post
Yes, I'm very pro-survey for a boat of this expense and complexity. It also might be worthwhile to have a rigger check the rig and a good mechanic look at the engine(s) and related mechanical systems in more depth than a surveyor might be able to do.
If we go for a test sail would that give us enough information on the rigging and such? Maybe I can find a nice sailor in Spain who wants to lend a hand looking at such things during a sail.
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Old 27-08-2013, 18:03   #15
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Re: Do I need a survey on 2 year old boat?

Quote:
Originally Posted by Wendi View Post
Dave, thank you for this! You seem to be knowledgeable about this.
Since I am buying from the owner, it is up to me to create a statement about what would be considered an issue from the survey. I need to create something specific about how serious of an issue would be needed to allow me to cancel the contract. I think he is nervous about me being able to negotiate after the survey. Do you have any ideas or experience with this?
Wendi,
My knowledge only stems from our purchase of an ex-charter L380 2 years ago. I have no legal training etc & I am only basing my advice on what we went through. Considering the amount of money involved I believe that you need to seek as much legal advice as possible, & remember that you are the buyer & that there are a lot of boats for sale out there.

On our Purchase & Sale Agreement which was signed after our offer had been accepted there were clauses to the effect:

The sale of the vessel is subject to satisfactory personal inspection, survey, sea trial.
In the event this sale is subject to survey, the Buyer acknowledges and agrees: All costs of the survey shall be at Buyers expense; written acceptance or rejection of the vessel must be made by the Buyer on or before .......
In the event of rejection the deposit shall be returned to Buyer.

In our case, after our survey, we presented a list of items that the survey revealed, this list was then incorporated into our Acceptance of Vessel as items that had to be repaired / replaced before final settlement date. All was attended to prior to settlement.

I think it is very important that you have the option in writing to withdraw from the purchase dependant on the survey, sea trial & inspection.

Dave
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