Fair Value Price

[FLLCatsailor]

I always advise my clients not to reveal that info to the selling broker... Surveyors are notoriously bad at overvaluing boats, and the selling broker will use that to his advantage when it comes to survey reductions....

That being said, I always ask for it when I'm the selling broker

[TaoJones]

Originally Posted by MTLandlocked

I have very limited experience, as not being a boat owner as of yet, but sounds like maybe the seller wants access to the survey so they don't have to pay for one?

A seller has no use for a survey, certainly not post-sale. Surveys are bought and paid for by buyers, hoping to find out if it actually makes sense to go through with the deal. My rule of thumb is that any good surveyor can find enough things wrong with a vessel that the final negotiated price will be at least as much less than the original agreed-upon price pre-survey to pay for the entire cost of the survey (which is not a trivial sum in most cases.)

Originally Posted by zboss

Well, he never did end up requesting this info and we have come to an agreed price.

So you were just anticipating that the seller's broker might ask for your survey? Why?

Originally Posted by FLLCatsailor

I always advise my clients not to reveal that info to the selling broker... Surveyors are notoriously bad at overvaluing boats, and the selling broker will use that to his advantage when it comes to survey reductions....

That being said, I always ask for it when I'm the selling broker

Heh . . . good one. And do you do that for the reason you stated - to counter requested survey-reductions?

TaoJones

[zboss]

Originally Posted by TaoJones

So you were just anticipating that the seller's broker might ask for your survey? Why?

No. My broker advised me that the seller broker may ask for that and for the line items from the survey to support our revised offer, which was substantially below the original offer.

The seller was quite adept at negotiation and ended up coming down far enough to meet us at just the right point where our revised offer + the cost of a new survey and associated costs (if we did not buy her vessel) would almost equal her new counteroffer.

So, in the end we are ending up with a vessel we like with great bones and great looks at a price we are happy with but is certainly in need of a refit.

- unrelated - I have just realized that I have already posted 269 messages full of BS on this board. I am OFFICIALLY a sailor

[FLLCatsailor]

It is reasonable for the seller to ask for the surveyors recommendations.

[FLLCatsailor]

Originally Posted by TaoJones

Heh . . . good one. And do you do that for the reason you stated - to counter requested survey-reductions?

TaoJones

Bingo...

[onestepcsy37]

don't do it. think of the survey as the 'hand' you are dealt. you wouldn't show your cards around at the poker table, would you?

the only thing i would reveal to the selling broker is the problems the surveyor found. those are your 'ace' cards.

you don't need to offer any explanation to him, regardless of how he cries and whimpers. if you must, tell him to give you five new crisp hundred dollar bills and you'll give him a copy of the survey.

i can think of one good reason the selling broker wants to know the price. surveyors nearly always overstate the price of a boat. the selling broker can then say to you, 'see, i told you it was a great buy!'.

remember; this is business, not a gathering of corinthian yachtsmen...

[David_Old_Jersey]

You can send the Broker copies of the relevant bits of the survey, or just tell him (verbally or by e-mail).......after all, if he wants to verify that is true only has to look at the boat / bits - or ask the Vendor (odds on they know the problems already!).