boat purchase...possible opportunity or mistake

[Rol1964]

I found an '84 Tartan 37 that has been on the hard since 2019. The seller needs it gone. I haven't seen it yet (this Sunday weather permitting) but apparently it has suffered some water intrusion at the mast which has left the cabin sole at the base of the mast needing renovation. The seller sent me the last survey (2020) which also indicates high moisture readings in places on the foredeck and cabin top. Otherwise...the survey indicates the boat is in average overall condition throughout the hull and the internals. There are no brokers involved in this potential sale. Obviously another survey will be required but would it be proper to propose an offer pending a new satisfactory survey result? Many thanks for your guidance,
Rol1964.

[boatpoker]

This may help ...
Marine Survey 101, pre-survey inspection

[Rol1964]

Originally Posted by boatpoker

This may help ...
Marine Survey 101, pre-survey inspection

That's a great reference. I have it. I think I've read it 10 times...!

[deblen]

Some price guidance: https://ca.boats.com/boats-for-sale/...artan&model=37

[Rol1964]

Originally Posted by deblen

Some price guidance: https://ca.boats.com/boats-for-sale/...artan&model=37

Thanks for the reference...I see some high asking prices there...

[Island Time O25]

Even if you get it for free or next to nothing it will be an expensive project unless you are well suited for it, have time to do it and are not giving up your work income to do it. Otherwise it will be cheaper to buy a similar age and make model for market price. A 1984 37 boat, even of good bones, will be economically not worth fixing unless DIY. And even then you need to compare the income you'd make at your job instead of working on the boat.

The situation would be different if the boat was under 20 years old or a cat. Then your potential savings might be worth the hassle. Or if you have more time than money on your hands and will do it as a DIY "boat owner university". In any case it's a choice - if you want to learn/pay for boat repairs or you want to sail.

[Island Time O25]

Originally Posted by Rol1964

Thanks for the reference...I see some high asking prices there...

If the boat is in Bristol shape it may warrant a price over $50k. An average condition should be around $30k to $40k for that model. While the covid related boat buying frenzy distorted the market it has cooled off considerably for less than perfect boats. So I would use pre-covid comps, adjusted a bit for inflation, as a guide. Not the covid induced demand prices when even crap condition boats were snapped up at average condition prices by newbie dreamers.

[Kd9truck]

5 years on the hard and the vessel is 30+ish years old with water intrusion? That would be a no for me if it were free. Everything will need to be changed out maybe even the hull.

Cheers

[GordMay]

Moisture in decks, through ± 4-5 Canadian winters? I’d expect to see some visible signs of freeze damage [water expansion causes blisters].

[26N80W]

The key thing to remember is the fact that no manor how much you put into the boats restoration and repair, the value will not exceed $50,000 to $60,000. If you are seriously into DIY and good mechanically inclined and most importantly enjoy this type of project then you may be ok. If you have a location to store the boat while you are repairing it that is very inexpensive or free then that will help a lot. If you are having to pay yard fees at $1,000 a month while you work on it in the heat of the summer then it starts to get a little less attractive. The boat has not sold in 5 years for a reason. Have the yard fees been paid or is it the yard selling the boat? Once you price new sails, new running rigging, and a lot of other new stuff, you may realize there are a lot of boats our there for a similar investment that you can start sailing tomorrow.

[Rol1964]

Originally Posted by 26N80W

The key thing to remember is the fact that no manor how much you put into the boats restoration and repair, the value will not exceed $50,000 to $60,000. If you are seriously into DIY and good mechanically inclined and most importantly enjoy this type of project then you may be ok. If you have a location to store the boat while you are repairing it that is very inexpensive or free then that will help a lot. If you are having to pay yard fees at $1,000 a month while you work on it in the heat of the summer then it starts to get a little less attractive. The boat has not sold in 5 years for a reason. Have the yard fees been paid or is it the yard selling the boat? Once you price new sails, new running rigging, and a lot of other new stuff, you may realize there are a lot of boats our there for a similar investment that you can start sailing tomorrow.

All excellent points. Here’s the deal (as pres Biden would say), I am mechanically inclined, I do enjoy the projects, the boat could go in the water in short order, as I understand it, it hasn’t been for sale for 5 years…covid prevented the owners from having access due to border restrictions, the owner has subsequently developed health problems so it’s time to part with it. It’s all starting to add up now…

[Rockinar]

Rotten cores are major issue. Do you want to sail or just work on boats? A boat with rotten core is not going in the water any time soon. Especially with short Canadian summers. The boat is a headache and money pit.

[Rol1964]

Originally Posted by Rockinar

Rotten cores are major issue. Do you want to sail or just work on boats? A boat with rotten core is not going in the water any time soon. Especially with short Canadian summers. The boat is a headache and money pit.

Agree but high moisture isn't necessarily rotten core right? I've been reading all I can and the results are that approximately 50% say run and 50% say it might be doable. I'm leaning towards moving along to another boat but that decision has not yet been made. Thanks for your opinion.

[SailingHarmonie]

Originally Posted by Rol1964

..... Obviously another survey will be required but would it be proper to propose an offer pending a new satisfactory survey result? Many thanks for your guidance,
Rol1964.

Not only is this proper, an offer contingent on survey and seatrial is normal and expected.

The issue is that some potentially serious issues have already beed disclosed to you, and if the seller has half a brain he is going to exclude those issues from a contingent offer. Pick up a standard sales contract, there are hundreds of examples on line, and see if there are any that have language the two of you can agree on.

[wyb2]

Originally Posted by Rol1964

…
but apparently it has suffered some water intrusion at the mast which has left the cabin sole at the base of the mast needing renovation. The seller sent me the last survey (2020) which also indicates high moisture readings in places on the foredeck and cabin top. Otherwise...the survey indicates the boat is in average overall condition throughout the hull and the internals.
…

This description very closely matches the 80’s Catalina 36 that I bought for cruising in 2016. I didn’t know much about boats at the time. One difference being mine had a dry cabintop, but wet foredeck and side decks (plywood!).

Knowing what I know now, I may have pushed a little harder on price, or maybe held out for something else. On the other hand, I fixed cabin sole, fixed all the deck leaks, did a bunch of other work, and sailed that boat from New England to the Caribbean and back. The wet deck, including one sizable area of delaminated side deck, was never a functional problem. It was always on my list of projects, but never made it to the top, and I ended up selling the boat (with honest disclosure) for about what I bought it for.

I see a lot of ‘sky is falling’ attitudes towards wet decks, and it is a big project that most people don’t want to take on. But there is also a reason so many old boats are still actively sailing around with their wet decks - it takes a long time for it to actually start to impact the functionality of the boat.