Normal to Reduce Offer Post Survey?

[sail sfbay]

Not normal but has been done. Asking for a "repair allowance" is normal. If it was my boat purchase, I would consult with one or more boatyards and boat repair contractors to confirm the feasibility and cost to make the repair correctly then make a request a repair allowance. That is what I did on my last two boat purchases.

[Hoodsail]

My experience is that this is to be expected by the seller. Would agree with SailSF and post-survey findings, ask for a repair allowance. I did that with the boats I've bought. Most recently (5 yrs ago now) the seller gave me more than I needed per quote from local yard for repair (port side stanchion punctured the deck). And it was close to 10% of the price of the boat; albeit she was cheap, had been on the mkt for awhile, and season was ending here in new england (impending winter storage fees). thnks

[Stewie12]

Some brokers contracts include making good any items that come up in the survey. Read the contract.

[mvweebles]

For the 5% small-stuff adjustment, really depends on what the issues are. If this is a pretty old boat in moderate condition and the defects were clearly visible from original viewing, then the seller might push-back on accepting a credit. If buyer has priced the credit as a replacement-value, seller might push-back.

It really depends on how reasonable the buyer is being. But to answer the OPs question, yes, a survey credit is really common. But a lot of sales fall apart due to unreasonable buyers or sellers. Especially in this market, buyer doesn't have great leverage given he's now out-of-pocket for survey and haul.

I'll echo other's advice to not sweat the small stuff. I have owned my boat for 23-years. I received a significant credit for blisters. But I can honestly say I do not remember the final selling price. What seems like a big deal at the front of the deal fades as ownership takes over.

Peter

[Shrew]

There are 'gotcha's' in either direction here:

1) Seller Repairs problem: If given choices, the seller will be inclined to choose the cheaper of the two choices in his attempts to satisfy the contract contingency.

2) Buyer Accepts Allowance: Buyer ensures repair is to their standard, but risks assuming additional, unseen, damage once repair begins.

I always opt for the latter. I consider the additional costs the price to ensure the job is done right.

If you don't like those options, keep looking. Right now the market is tight and much of the boat inventory is what everyone else passed on for the last 18-24 months.

[Jaqun]

I agree tht you need to understand the issue that are involved with a grounding incident. Ajusting the price for found issues during the survey is also normal.
That being said I just bought a boat from really nice people and the ability to contact them as issue come up is invaluable and is based on a cordial relationship after the sale. ditto on my smaller boat that I just sold. Ended up with a great relatinship with the buyer and he has contacted me numerous times with questions about the boat and upgrades I made. It's a very tight boat market and this of course depends on the people your dealing with but my recent experience is that the buyer/seller relationship had paid deep dividens and is worh trying to maintain.

[auwekamanu]

I agree with BlueH2OBound that the goodwill of the PO can be extremely important.

I bought a 50 year old ketch with a few problems. Surveyor AND owner told me what they were, but I did not nickel and dime what was a good price. I have never regretted it. The PO has sailed with me several times, and I have found out numerous tricks about a boat that is quite different in little but significant ways from modern cruisers. The boat had been innh8s family all fifty of her years, and the father had passed a huge amo7nt of knowledge 9f the boat to the son. I have had it passed on to me and I have had a good sail8mg companion as well on some of my days in her. Priceless!

[geoleo]

Many years ago+- I bought a Gulfstar 37 of same tear as your maybe 44. It was later discovered that the builder-Gulfstar- took some incredible cheap shortcuts in building the boaty. They even used galvanized 2X4 floor 'hangers(like from Home Depot) to support the main floor beams!!Of course these and the nails used to hold the 2x4s were rusting out badly causing the entire salon floor to sag. BEWARE anything Gulfstar!!!

[geoleo]

.. a sailboat built like a cheap garage.

[gonesail]

Originally Posted by goboatingnow

If you discover serious defects then clearly you need to negotiate the remedy with the seller , the most common result is an allowance from the agreed selling price.

After that don’t nickel and dime the seller , he’ll just say no.

right. a price was already negotiated. unless the survey shows a real show stopper .. go with your offer

[dadster3]

I have never understood why one makes an offer before you have a survey. It is nuts to do that then have to go through the hassle of renegotiating.

[jim King]

Don't sweat the small stuff. that's to be expected in a 40 year old boat. I just sold my 37 year old boat in which the surveyor found at least 30 small items all of which I could repair or replace in less than 15 minutes each. As for the larger items, I'd have the owner pay for them and supervise the work to make sure it is done to your specifications.
jim

[nhschneider]

I feel that it is the buyer's privilege to negotiate or renegotiate the final price at any time during the sales process. It might cause some bad feelings and may be considered poor form but the seller always has the right to refuse to meet the buyer's request(s)/demand(s).

When we submitted an offer for the boat we have now (after I received the survey and completed a sea trial), I offered the seller 30% less than their asking price and accepted the boat in 'as is' condition.

Fair winds and calm seas.

[cooper1991]

That's a good and fair point. Ask the owner to tell you what the small issues non-wear & tear items are, then things over and above are fair game eg drop price by a nominal fee if material.

[Bunnellr]

I don't hear your broker's opinion.
Negotiation post-survey is normal.
I echo great concern about keel and hidden secondary effects. What phrases did your surveyor use?