Pay Seller extra for old Survey??

[rabbi]

Originally Posted by AKA-None

Hmmm was the op the seller trying to find out if they could sell their old survey to prospective buyers?

That would not be out of consideration

I don't think so. Even though he started making offers at least a decade ago I don't think he ever managed to actually purchase a cat.

[boatman61]

The only purpose an old (8-18mths+) survey serves is to see if surveyors recommendations were carried out and the list of 'not immediate attention, beyond that it's pretty useless.

[geoleo]

Originally Posted by Mike OReilly

I'm curious... for those who would readily pay for the old survey, would you also pay a fee to view the boat? To walk on board? To conduct your own survey? Or even just to have the owner answer questions about it?

To me, it's the same thing. As a potential buyer, I want as much information as I can get about the boat before I make an offer. Indeed... what else can an offer be based on? Surely not just the information in the ad.

An old survey provides some useful information. It diminishes with age, but in this case, an eight-month-old survey had better be pretty accurate. If it's not, then the boat has gone through serious deterioration in a very short time. And that would be vital information to have.

Nothing in boat selling is obligatory. A seller is not obligated to share an old survey, but neither are they obligated to answer questions. As a buyer, I ran into these kinds of sellers (or seller's brokers). It was a good sign to walk away.

As usual Mike has best response.

[NYSail]

Originally Posted by CarlF

I don’t understand getting bent out of shape over this.

I wouldn’t pay $300 for some old survey. But I wouldn’t walk away over this if I wanted the boat.

If the $300 survey has something really bad in it, they wouldn’t show it to you. So why pay $300 to see something that says the boat is great?

And you’ll still get your own survey because your insurance company will need it and your surveyor will find some stuff to negotiate another 5%-10% off the price.

That’s how the game is played.

Agree 100%!

[BBill]

99.999999% of the time I wouldnt pay to see a boat and don't see that being the same as someone paying for an older survey...apples to oranges. Negotiate instead of walking, tell them you aren't going to submit an offer without seeing it free, or seeing the existing survey...period. Being self righteous on principle or mind reading, doesn't help you get the boat deal you want. My dad taught me a long time ago you don't have to like the people you do business with..and not to let that get in the way of making a deal you like. Chances are a seller gave the survey to the broker to show anyway and the broker is putting cash in his pocket. Thats what happened the first and last time i paid for one.

[BlueH2Obound]

Originally Posted by rabbi

The "buyer" is still looking at the same model. But he refuses to look at the now-free survey from which he could only learn. Even if it's just a reference point.

Am I the only one to find this fishy. Just like the mattress problem. Seriously 20year old mattresses are worth noting?

I am sure the broker correctly identified the OO as a tire kicker.

Nope, not the only one . . . .

[lestersails]

Originally Posted by CaptBobR

Surveys are normally written for the EXCLUSIVE use of the person they were written for.

Well, of course, that would be a good business model for the surveyor. How awesome for them to be able to resell their services over and over again. Take their 8 month old survey and just do a brief once over to update it, and charge the full fee.

I am kind of down on surveyors. The one that did my boat (in Central Florida) did a terrible job - missed several things in a twenty $K range boat that cost me several thousand dollars to remedy. Not sure if he was incompetent or just chummy with the dealer - but it was worse than useless.

[lestersails]

Originally Posted by boatman61

The only purpose an old (8-18mths+) survey serves is to see if surveyors recommendations were carried out and the list of 'not immediate attention, beyond that it's pretty useless.

Agree, boatman. Another thing - If it tempted the buyer to skip a survey that could be a real plus for the seller. He would be very smart to offer up the old one as a "freebie" to tempt the buyer. The seller should not in any way suggest that they buyer goes without their own survey, but if they passively offer it, why not? Charging for the survey is kind of self defeating.

[Marker6]

I would first ask the broker / seller if there are any items on the previous survey identified that require attention, structural, historical…and have been corrected or pending. Get it in writing with signatures.

Depending on the response and if still interested with proceeding forward, make the offer with escrow (with good buyer clauses ), as part of offer get the prior survey before purchasing new survey….kill the deal if the old survey flags too much or misrepresented before you commit to new survey expenses. Yes, it ties up some money for a while, but allows a way out.

Time is on your side and you have the money. Make the contract with sufficient contingencies.
Worked for me.

[Nav4425]

Pay it if you just want to see the past. You cannot re use that survey for for financing or insurance. We have heard and seen every possible problem with this including a broker losing his license.

[geoleo]

Originally Posted by caradow

2 years ago when shopping for my current boat I rejected a boat that the survey cost $2000.
About 3 months later the broker called and asked if I would sell my survey for $1000 and I obviously said yes.
Quite honestly that survey was worth much more than the new prospective buyer paid.
I think the buyer made the right decision.
I do not know if he ever bought the boat.

Thats a entireley different situatios, You were not the owner but another former prospective buyer. In this case(again) its the seller who wants to gouge a prospective buyer.

[geoleo]

Originally Posted by Marker6

I would first ask the broker / seller if there are any items on the previous survey identified that require attention, structural, historical…and have been corrected or pending. Get it in writing with signatures.

Depending on the response and if still interested with proceeding forward, make the offer with escrow (with good buyer clauses ), as part of offer get the prior survey before purchasing new survey….kill the deal if the old survey flags too much or misrepresented before you commit to new survey expenses. Yes, it ties up some money for a while, but allows a way out.

Time is on your side and you have the money. Make the contract with sufficient contingencies.
Worked for me.

I think its dangerous to give either the seller or his broker any escrow money. This being a 200k+ deal I would also hire a lawyer to conduct a formal closing ceremony and check for liens . I have bought 10 sailboats in past 52 years (sold 9)and only had problems with one transaction and that one was thru a broker from FL! FL seems to be a snake pit of shyster boat brokers.