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Old 07-03-2018, 14:42   #16
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Re: Failed survey but still interested...

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Originally Posted by Peregrine1983 View Post
The one thing I will add about the 365 (and 424 etc) is that the cockpit is absolutely massive. You won't find a bigger one on a boat that size.

This is something that I've really come to appreciate on my 424 for hosting lots of guests, or stretching out to sleep. When my wife and I do overnight passages and she's on watch I'll often just sleep in the cockpit instead of going below. I'm 6' and I can lie lengthwise or across the cockpit without bending my knees. I think I remember the 365 cockpit being big enough for me to at least stretch out lengthwise.

All that said, I don't ever want to see it full of water. For long passages a number of owners on the owners forum have come up with interesting ways to take up space - lashing down coolers, propane tanks, and storage bins.
Met a guy with a 424 that had been modified to have an opening, drop down transom. Made a great swim platform. I was very jealous.
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Old 07-03-2018, 14:43   #17
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Re: Failed survey but still interested...

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Originally Posted by LLCoolDave View Post
All great posts, I want to hear everything. By failed survey, the surveyor said the boat would be un-insurable.
I bet he didn't write that in the Survey report

And he's quite possibly basing that statement primarily on the age of the current standing rigging. Does the survey say why it needs replacing - is that based on actual condition or just age?

Insurance companies don't like very old rigging
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Old 07-03-2018, 14:45   #18
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Re: Failed survey but still interested...

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Originally Posted by nwdiver View Post
Offer 5000, explain it needs 15,000-20,000 and most of one years work to become a 20,000 to 25,000 dollar boat, he is dreaming he will get 30,000.......
And you are dreaming if you think that is an acceptable offer to the seller
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Old 07-03-2018, 14:48   #19
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Re: Failed survey but still interested...

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Yours too huh?
Yes but with a catch. The 424s I've looked at the hole was just a giant gaping chasm under the floor. On the 422, Pearson molded a fiberglass water tank that kind of, almost fills the hole. The tank is shaped like the hole but sits in it on spacers leaving a 1-3" gap all the way around. It creates a 3" high dead spot under the tank that is less accessible than the center of a black hole.

I swear I could be on the foredeck with all hatches closed, drop a hard to replace part and if it doesn't go into the water it will somehow bounce its way down into the black hole, never to be seen again.

Have no idea why Pearson didn't just seal it off and make the whole thing a tank.
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Old 07-03-2018, 14:55   #20
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Re: Failed survey but still interested...

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And you are dreaming if you think that is an acceptable offer to the seller
If I were the seller I probably wouldn't even counter an offer that low.

Unless = in much worse condition than reflected in the survey that boat is worth much more than $5k.

BUT, if the owner has bailed and left it sitting in Rio Dulce for a few years he/she might be desperate and take whatever. Also if sitting and closed up in the tropics for a couple of years it might have a serious mold and mildew problem which could make it harder to sell.
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Old 07-03-2018, 14:56   #21
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Re: Failed survey but still interested...

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Originally Posted by skipmac View Post
Met a guy with a 424 that had been modified to have an opening, drop down transom. Made a great swim platform. I was very jealous.
WOW! Not to derail the thread, but I'd love to see that if you had a picture.
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Old 07-03-2018, 14:58   #22
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Re: Failed survey but still interested...

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Insurance companies don't like very old rigging
Absolutely true. I'd also be willing to bet this is why the boat "failed."
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Old 07-03-2018, 15:13   #23
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Re: Failed survey but still interested...

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Originally Posted by StuM View Post
I bet he didn't write that in the Survey report

And he's quite possibly basing that statement primarily on the age of the current standing rigging. Does the survey say why it needs replacing - is that based on actual condition or just age?

Insurance companies don't like very old rigging
He didn't know the age of the rigging. There are hairline cracks in the swages. He showed them to me. When I mentioned that to the broker he inspected the rigging and decided we shouldn't go to windward with the mainsail during sea trial. Too much stress on the rig . We motored upwind and went downwind with jib only in light wind.
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Old 07-03-2018, 15:22   #24
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Re: Failed survey but still interested...

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Originally Posted by Miz Pea View Post
Yes, you will spend at least $15k to get the vessel up to snuff, if you do much of the work yourself.

If it were me, I would offer the seller $10k - one-third of his asking price.
Yes, a good suggestion but.....will the buyer be able to get insurance on the boat with a failed survey??
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Old 07-03-2018, 16:07   #25
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Re: Failed survey but still interested...

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Originally Posted by foggysail View Post
Yes, a good suggestion but.....will the buyer be able to get insurance on the boat with a failed survey??
Again - no such thing as a "failed" survey in this context. It's easy enough for an insurance company to put in some form of codicil that effectively required new rigging. When I bought my current cat, the rigging was 12 years old and I knew that I would be replacing it.

My insurer just include this in the policy:
"Warranted standing rigging is not exceeding 10 years."
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Old 07-03-2018, 16:48   #26
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Re: Failed survey but still interested...

I know of a Pearson 36 in what I believe is good sail away condition, located in Virginia. Not on the market officially, but I expect the owner would be delighted with an offer.
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Old 07-03-2018, 16:52   #27
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Re: Failed survey but still interested...

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Originally Posted by LLCoolDave View Post
So I'm in Rio Dulce, Guatemala to look at a Pearson 365 cutter.

1981 Pearson 365 Cutter Sail Boat For Sale - www.yachtworld.com

Yesterday it failed survey:
Rigging needs to be replaced. $6000
A couple fuel leaks
Water ingress through a chainplate (assume it can be rebedded during rigging)
bonding system not functional
Shaft drive needs alignment
Water leak through the quadrant steering
Varnish is too far gone. It needs to be taken back to the wood. $1000
Needs a new bimini $1000
Radar not functioning

Questionable
chartplotter works but shows discoloration
halfway installed watermarker
Sails have been left on when absent. There is a light green moss on the headsail and most halyards.
Water left in tanks when absent.

This is starting to look pretty grim.

Surveyor said I'd spend $15k to get it up to snuff. He said normally a boat this size and this price it would be a major project. He says that isn't the case for this boat so he kinda gave me the thumbs up if I want to spend the money.

Really it seems the last owner was delinquent (4years)

I also paid for haul out. The hull showed no osmosis.
The engine fired right up and had some smoke. I'm having an engine survey done tomorrow.

Wondering if I should continue with purchase. Not looking for a yes or no but things I should consider.
replacing the rig on a 36ft pearson isn't going to cost $6k $3-4 maybe. I replaced the entire standing rigging on my Morgan OI 41 KETCH (2 masts, 12 stays) for $4k CAD Redoing varnish doesn't cost $1k maybe $100 for the varnish and sandpaper! (and your time) but a Bimini is going to set you back more than $1k even if your existing frame is in good condition! having said that if you are handy and have time, go for it! don;t let the world tell you otherwise! I bought my OI knowing that it needed rigging, wiring, and engine etc. but I got it for a hell of a price! so its worth it to me to put all of those things back into her!

The anchor roller platform looks a bit fragile in the pictures its got no support to resist the anchor chain pulling down on it! and I'd check that inner tie rod for the staysail stay. The part in the anchor locker looks incorrect and its got an anchor rode tied to it. not a good arrangement.
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Old 07-03-2018, 17:05   #28
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Re: Failed survey but still interested...

If you cannot get the boat for $5-10 walk away.

Read the advertisement again, and look at your survey. How was the varnish done in 2017: and is now too far gone? Be careful not to fall in love with a boat BEFORE you buy it.
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Old 07-03-2018, 17:21   #29
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Re: Failed survey but still interested...

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Originally Posted by foggysail View Post
Yes, a good suggestion but.....will the buyer be able to get insurance on the boat with a failed survey??
I think so. A lot of insurance companies don't require a survey any more. A lot don't insure old boats though. At that price point I wouldn't insure it anyway.
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Old 07-03-2018, 17:46   #30
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Re: Failed survey but still interested...

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Originally Posted by kmacdonald View Post
I think so. A lot of insurance companies don't require a survey any more. A lot don't insure old boats though. At that price point I wouldn't insure it anyway.
you may find that the opposite is occuring. We were asked for a survey for liability ONLY insurance as of this past year!
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