No-Go on a Boat Purchase

[denverd0n]

Originally Posted by hellosailor

If the broker says anything beyond "I'll have it ready for you tomorrow" then also send him a fax, email with receipt, or plain certified letter, so you have written proof that you are asking for your deposit back NOW because the survey (attached) shows the boat to have substantial structural issues which effectively make it unsafe and unsound.

I would not attach the survey, or explain anything about it. The contract should be written such that it is subject to a survey "acceptable to the buyer." Simply say that the survey results are not acceptable, and you want your money back. There is no need to explain any further.

Now, if you WANT to explain, fine, that's your prerogative. But as a buyer I have usually found that explanations only lead to more questions, usually followed by an attempt at a hard-sell. So I usually avoid explanations.

[denverd0n]

Originally Posted by unbusted67

But really there is a lot good going on with this boat and I might take Charlie here's advice.

It's a buyers market. There are lots of boats out there. And remember the rule of threes: Any project on a boat will cost you three times as much as you estimate, and take you three times as long as you expect.

This sounds like a REALLY NICE BOAT... to walk away from.

[Antifiat]

Originally Posted by Khagan1227

Your post probably saved a few other people a potential headache too.

Agreed! I am not looking for such an expensive sailboat purchase but I certainly understand how I could and others could be so anxious from personal circumstances that we jump into an offer too early.

I hope you recover and bounce back quickly.

[lateral]

Buying a boat has an element of risk no matter which way you look at it. Surveyors come in all varieties. I know, first hand! Never be in a hurry, seek 2nd/3rd opinions.
Do not be pressed by family or your own emotions!
There is no substitute for experience. Unless you are knowledgeable & are pedantic in the extreme in your due diligence, your risk is guaranteed.
Major repairs to medium sized sailboats are not for the faint hearted.
I would not walk away from that deal, I would run, & be talking on my cell to the broker how he & owner, misrepresented the boat with potential life endangerment
consequences.

One day Charlie you will see the light. Maybe you get off more grinding than sailing.
Whatever spins your wheels. (No pun on the grinding either.) On the other hand , ya gotta work, so good onya mate!

[hummingway]

Originally Posted by lateral

Buying a boat has an element of risk no matter which way you look at it. Surveyors come in all varieties. I know, first hand! Never be in a hurry, seek 2nd/3rd opinions.
Do not be pressed by family or your own emotions!
There is no substitute for experience. Unless you are knowledgeable & are pedantic in the extreme in your due diligence, your risk is guaranteed.
Major repairs to medium sized sailboats are not for the faint hearted.
I would not walk away from that deal, I would run, & be talking on my cell to the broker how he & owner, misrepresented the boat with potential life endangerment
consequences.

One day Charlie you will see the light. Maybe you get off more grinding than sailing.
Whatever spins your wheels. (No pun on the grinding either.) On the other hand , ya gotta work, so good onya mate!

If you are refering to Charlie Cobra I can only guess you haven't seen his work. Prehaps you will one day and then you'll see the light.

[unbusted67]

Ok guys don't yell at me like I think you are going to but I put in and extremely low ball offer and the seller bit. We have a boat! Closing on Monday, hope she doesn't change her mind. Soggy deck be damned we've got a deal.

[hummingway]

Congratulations! Good luck with the transformation.

[Celestialsailor]

Originally Posted by denverd0n

Good rule of thumb is, never fall in love with anything that can't love you back.

...Now you tell me...2 wives too late. But my little ship does love me back!

[perchance]

Originally Posted by unbusted67

Ok guys don't yell at me like I think you are going to but I put in and extremely low ball offer and the seller bit. We have a boat! Closing on Monday, hope she doesn't change her mind. Soggy deck be damned we've got a deal.

Let the spending begin.

[unbusted67]

Ha ha piece of cake. Soggy cake.

[zeehag]

you will have a great time
mebbe is soggy with rum like a rum cake-- that would be a blessing.
pix or it didnt happen. now we wanna see her before during and after.....

[CharlieCobra]

Nice.... It'll be work, nasty, sloppy work but in the end you'll know a lot more about and feel much more secure in the boat when it gets ugly out there.

[MarinerJo]

Originally Posted by unbusted67

Ok guys don't yell at me like I think you are going to but I put in and extremely low ball offer and the seller bit. We have a boat! Closing on Monday, hope she doesn't change her mind. Soggy deck be damned we've got a deal.

Congrats! Now, where are the pics?

[unbusted67]

no pics till closing guys, no jinxing it. I was just on the boat today running the engine....like a top. Pics to come, very soon hopefully.

[lateral]

Good onya. All the best with your boat!
What punters forget with the expression- Take from the purchase price
the estimated cost of the repair is that prices are low for used boats anyway and the vendor has "x" amount of inventory that has value.

I have my moments of despondency, but then i have rebuilt my boat from the keelson up. (And down!) Not just a soggy deck repair.
You have got to take it in context tho'.

Disregard the previous negativity, enjoy the journey.