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Old 22-09-2016, 17:01   #1
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Hardships buying used boat

Hey guys - for the past while I have been trying to get into a new to me under $5k sailboat. Now keeping in mind prices are a little inflated here and people seem more desperate.. I have missed several opportunities to purchase as I was trying to coordinate a survey or lift etc etc. I now have the chance to purchase a Tanzer 26 which I have always loved - it is being sold by a resort owner who uses them to tour the area with guests. The boat is in an isolated bay with no means to survey/lift it out of the water. He of course promises it is in fantastic shape and it was just bottom painted (with photos) and according to him checked over. He actually offers to purchase the boats back in the following year as he cant store them for the winter. The boat in mind has a 2015 yamaha 9.9, new paint as mentioned, immaculate interior and he is firm at $5400. He now let me know I was first in line so will wait for me to come otherwise will move on to the next person.. I am having a hard time deciding what to do in this environment as boats in my price range do not last and there is little opportunity to hold it long enough to have checked out. I do have experience with power boats (new to sailing) but know that there is a limited amount you can see while the boat is submerged.

What are your thoughts? .. Thanks!
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Old 22-09-2016, 17:16   #2
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Re: Hardships buying used boat

Unless you get someone to dive on it who can check the bottom, I would get a survey. It ain't a lot of money, but I bet you still work hard for it...



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Old 22-09-2016, 17:17   #3
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Re: Hardships buying used boat

On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price.


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Old 22-09-2016, 17:22   #4
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Re: Hardships buying used boat

Quote:
Originally Posted by Sailmonkey View Post
On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price
From someone who knows a lot more than I do!


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Old 22-09-2016, 17:37   #5
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Re: Hardships buying used boat

Quote:
Originally Posted by Sailmonkey View Post
On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price.


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Good advice. I can't stand people giving the blanket reply of "get a survey" when it does not always apply. If you can't look Over a 5k- boat that has simple or nonexistent systems and possibly an outboard then you should do more homework so that you can.
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Old 22-09-2016, 17:43   #6
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Re: Hardships buying used boat

Under $10k I would not get a survey. You can dive on the boat. Check underwater to see if the rudder has play.
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Old 22-09-2016, 20:12   #7
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Re: Hardships buying used boat

Although maybe not a like for like comparison, we just bought a Macgregor 26S for $5k with 5 year old sails, an older outboard and a decent trailer. So far we've found a few things to repair - all under $500. You'll be fine...take the plunge.

BTW, the outboard alone is probably worth $1500 around here.


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Old 22-09-2016, 21:51   #8
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Re: Hardships buying used boat

$5k for a Tanzer26 with a 2015 9.9hp outboard, new paint, and the interior is "possibly" in fantastic shape according to the seller. And a promise of a buy back next year (Get that one in writing). Sounds a bit too good to be true.

Question though: In an isolated inlet with no lift/haulout capabilities....how did the seller apply new bottom paint? Hmmm...

(Edit: The boat is in an Inlet. Inlets have outlets that lead to somewhere else....possibly with lift/haulout capabilities?)

As you have powerboating experience, you should be able to do a self-survey on the interior hull of the boat and the boat's systems yourself. Sails and rigging might be a different story but not overly complicated on this size of boat...do some research on your own. I agree with others here..skip the survey.

I recently purchased my Hunter27 online. Photos looked great, seller provided maintenance records, informed me of problems that he was seeing. Price started at $6500 but was reduced to $5500 in order to purchase a set of used sails. As I live overseas and won't return to the States for 7-months, I had a survey done. Survey, plus launching and haulout fees came to around $720. That's a large percentage of the purchase price, don't you think? For me it was worth it, no major issues with the boat found, but by being overseas I paid to have an unbiased professional set of eyes inspect the boat. If you can go see the boat yourself and make your own assessment, a survey is not worth the cost IMHO.

Personally, I'd go look at the boat and jump on it as soon as possible. Sail it, enjoy it, do some maintenance, and then next year (when the seller's tour season starts again and he needs boats) decide whether or not you want to keep the boat. If not, take a hit on the price and sell back to the PO and move on to another boat. (But get that buy back deal on paper first!)
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Old 23-09-2016, 08:53   #9
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Re: Hardships buying used boat

Don't waste money on a survey. If you cannot "take a flyer" on a $5K purchase, you prolly shouldn't go to sea.

The purchase price of ANY older sailboat is what accountants call "sunk costs". You'll NEVER recover it, and most likely, since it'll be tough to even GIVE the boat away when you tire of her (or the expense of keeping her), you will wind up paying the disposal costs involved in chainsawing her to bits and disposing of the bits. Count on about ten grand!

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Old 23-09-2016, 09:04   #10
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Re: Hardships buying used boat

Quote:
Originally Posted by Sailmonkey View Post
On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price.


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Couldn't agree more. My partner and I buy, refurbish and resell older sailboats. Most sell for under $10,000 and we do not offer a survey (if someone insists, it would be on their dime). As said, the cost vs the boat price is too big a chunk of the value to pay it. Tanzer 26 is a good solid boat in most cases. If this boat is used to tour by a resort, I would imagine the resort/boat owner has a reputation and a clientele to protect that would require boat maintenance and quality. Seems pretty strait forward. At $5400 you are getting a very good deal that is under value if anything, certainly not over inflated. Grab it while you can.
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Old 23-09-2016, 09:21   #11
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Re: Hardships buying used boat

Are you going to sail it on that lake? If it was ?able about how he got the bottom painted, how are you going to get the boat out of the water, now or in the future?
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Old 23-09-2016, 09:25   #12
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Re: Hardships buying used boat

be careful.
I had a tanzer and sailed the crap out of it is a well constructed boat that I sailed thru some heavy storm.
my tanzer was great but look at me now living on a freedom 45(same sail set up) oh poor lew
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Old 23-09-2016, 09:42   #13
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Re: Hardships buying used boat

Tanzer 26 is a well made boat. I owned a T22, and the T7.5 and T26 are very common around here. They have good hulls. I have never heard of a tanzer getting pox, osmosis, or whatever you want to call it. I would tend to believe the seller. And that engine is practically brand new. If its as clean on the inside as you say, sounds like a good boat.

However, there are lots of boats around here under $5k (CDN)...especially at this time of year. Where are you looking?

1977 Tanzer 26 end of season price must sell | sailboats | Gatineau | Kijiji

Acadian (Paceship) Yawl 30 ft - "Snow Day" | sailboats | Ottawa | Kijiji

Motorsailer for sale | sailboats | Kingston | Kijiji

30" Grampian Sails Atomic Four-Engine Good Condition | sailboats | Kingston | Kijiji

Mirage 26 - price reduced to $6500 | sailboats | Kingston | Kijiji

Ketch Rigged Classic 31 Sailboat | sailboats | Kingston | Kijiji

Northern 25 MKlll for sale - asking $4500. Ottawa. | sailboats | Ottawa | Kijiji
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Old 23-09-2016, 09:45   #14
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Re: Hardships buying used boat

Quote:
Originally Posted by Sailmonkey View Post
On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price.


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Old 23-09-2016, 09:57   #15
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Re: Hardships buying used boat

Quote:
Originally Posted by Sailmonkey View Post
On a 5k boat that is clean and operable, forget about the survey, it's too large a percent of the purchase price.


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I agree... depending on the buyer's ability to understand condition of things on the boat.
One wonders how the bottom was painted if no lift available though....
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