Survey: Who Should Pay ?

[SaltyMonkey]

pass - by all descriptions, another reason why I choose not to buy directly from an owner.

[doug86]

Originally Posted by Don1500

From now on I am going to have a lawyer write my questions here.

Well Don, you are the one who started a thread with a hypothetical court case. If you don't like the responses, perhaps you might try posing a question that doesn't go straight to legal remedies right off the bat next time...

[barnakiel]

Aside from legal matters (that tend at times to be quite contrary to our lay perceptions of "justice"), I think if you pay for the survey, then you own the survey. The boat owner owns the boat though.

Try if there is a way to sign a pre-sale agreement that would cover your risks. If the seller is serious, they will agree.

b.

[Don1500]

For those interested, I passed.

[Capt Phil]

Probably a good outcome, Don... The last two boats I purchased, I had a survey done at my expense prior to purchase but kept copies of the surveys and when it came time to sell, I had the surveys in hand PLUS a detailed list of everything that had been repaired, improved or added to the boat which I shared with the prospective buyers at no cost. On one of the sales, because the survey had been performed within 5 years of the sale, that was good enough for the buyers' insurance company which saved the buyer the survey cost. As a buyer, I always inquire if there is a recent survey available on the boat. It is up to each buyer to do their due diligence but sellers should help them in the process IMO... Capt Phil

[skipmac]

Originally Posted by Don1500

For those interested, I passed.

Based on your description of the seller I think you chose wisely. Too many boats and deals on the market to spend time dealing with a seller that sounds like he doesn't really want to sell anyway.

So, got any other boats on your radar?

[Don1500]

Originally Posted by skipmac

So, got any other boats on your radar?

I have a Bruce Roberts 40' in Texas. A 37' Tartan and a 34' Tartan in Maryland. A couple in Florida (A Newport Pilot house that is interesting). But I will see what's available when I finally sell this house. It's like an albatross holding me back.

[skipmac]

Tough time to sell a house. I hear CA is particularly bad. Any possibility of keeping the house, maybe as a rental, and still buy a boat?

[Don1500]

Originally Posted by skipmac

Tough time to sell a house. I hear CA is particularly bad. Any possibility of keeping the house, maybe as a rental, and still buy a boat?

I've looked into it, it's possible but part of the deal is that I will be retired. I would still have that albatross but no job to support it if it doesn't rent. The drain on the budget would be tremendus. As long as I have the house I am keeping my job. Actually if the house sells before August I will keep the job anyway. A plum assignment has come up that will allow me to put away a good deal of my paycheck towards the boat budget. On top of the cash I already have access to that would be a much better condition boat to start, or more towards the refit.

I'm looking at a just rebuilt, but not finished 34' Tartan that would cost 15K plus about 20-30K to finish. Then add in the electronics and "goodies" so another 20K, total 55-65K. But it would be a brand new boat worth over $125K when done. (I know a boat is only worth what someone will pay for it, but if it were on the market finished it would be $125K)

[David M]

Asking to pay for his lodging and saying his boat can only be sold to someone who is "worthy" is just too weird and very arrogant. Who knows what other weird things this guy might come up with. There are already two red flags about this seller. I would walk away from the deal.

Paying for the survey puts the surveyor on your side if there are any gray areas where the surveyor might decide one way or the other. He becomes your representative and not the sellers representative.