Survey; What would you do?

[LittleWing77]

Originally Posted by SuW

If your damsel in distress was the Nonsuch, that was a good call. They were, and remain, cult boats.

This is a classic case of one man's gold is another man's dross...

I loathe Nonsuch's. Can NOT believe that anyone would buy one - or even like one!

(No disrespect to Su, of course. It's the diversity of this world that keeps it all interesting. )

Fair winds,
LittleWing77

[Carl-T705]

A 20 year old 34 ft neglected boat and you made an offer before the survey, something sounds backwards to me. Yeah , I think this may not be the right boat.

[Tanqueray]

Originally Posted by SuW

Imo it's definitely a seller's market in the more expensive end of the market.

…

The stuff in poor exterior condition isn't selling well. You instantly know the kind of owner you're dealing with, unless there's a good reason for neglect.

Yes, junk won’t sell in (almost) any market…

A guy at my marina sold his Hunter 40 (early ‘80’s I think) for about $30k…he was asking around $40k, but he wanted it gone. Decent shape, but not upgraded in a while.

Greg

[SuW]

Originally Posted by LittleWing77

This is a classic case of one man's gold is another man's dross...
I loathe Nonsuch's. Can NOT believe that anyone would buy one - or even like one!
(No disrespect to Su, of course. It's the diversity of this world that keeps it all interesting. )
Fair winds,
LittleWing77

No worries. I'm just saying that Nonsuch boats usually sell well for a good price. Originally well built.

There are other cult boats - random list: Bristol Channel cutter, Goderich, Falmouth cutter, perhaps Island Packets, Cabo Rico, Valiants and others in the upper tier.

Perhaps Hans Christian, Tayana, and other Taiwan boats next.

However, after about 25 years the boat has to have had a rebuild, or will require one. At 40-50 years a couple of rebuilds. Most people won't do that on a boat that's worth less than the cost of the upgrade.

[TMarvin]

I'd run, sounds like a lot of hidden issues. Big red flag to me. "left the hatch open during a big rain storm" doesn't make floorboard squishy
(you dry it after you realize it), but continual water does.
just my two cents.

[robertmfranklin]

I am confused.

My good on-line friend Dan Pfeiffer says I would be lucky to get $15,000 for my 1972 Pearson 36, which has absolutely none of the problems noted by the original poster.

The only downside, not really, is the 1/2 century age which if you know anything about boat building is more an upside than a downside. Age is meaningless, maintenance is not.

Oh well. I love following these crazy threads.

[chrisr]

i agree with the general consensus that this was not the boat for the OP to buy

however imho it's generally worthwhile to buy a boat that needs work - even significant work - provided it's got good 'bones' and is priced right. you will then know the quality of the job done, can tailor things to suit personal preferences and will enjoy a lot of brand new gear instead of older stuff

cheers,

[Icarus]

Originally Posted by loneshark64

I recently put an offer on a 34’ year 2000 boat. The guy was asking $75k, dropped it to $69.5. Then I offered $62 and we settled on $66.5.

Yesterday was the survey. I haven’t gotten a report so this is a hot take. Keel and bottom are fine, deck is fine. Mast and rigging seem fine though the mast hasn’t been out in 5 years. Structurally ok, doesn’t seem to have grounded.

Issues top of the list, radar, autopilot, microwave and fridge don’t work. Alternator is balky. Headsail furler bearings are bad. The cabin was quite wet, the guy said he had left the hatches open during the tropical storm (??) and the teak/holly plywood was squishy in areas; in the galley is was shot. There were some hoses without clamps and things leaking that are easy to fix. A hatch also appears to be leaking. The forward and back cabin cushions are wet and need to be replaced. Anchor and rode are trash. Main is ok, Genoa is ok but mildewed. Standing rigging and lifelines are good. Running rigging is ok but tired. Then there’s a long list of little ****.

So my feeling is the basic boat is solid but there is about $7k-15k of problems, depending if you can fix or have to replace. And based on past experience and what we found that is wrong, there is another $5-10k of stuff we didn’t find that is wrong. This is before you get to stuff like new plotter, new sails, ais and things I want. Yes I could live without a fridge etc but that is not my goal for this boat. The last boat was the “live without it” boat.

Going into this my thinking was I was willing to spend about $80k to buy the boat and fix stuff. Beyond that I would spend on nice to have upgrades, maybe $10-20k overa few yrs. So the question is, buy this boat, maybe knock the price down a little, and fix it all, or walk and find a different boat in a tough boat market?

Why didn't you get a survey before you negotiate price?
If you aren't happy don't buy it.
From your information I think 66k for a 34ft boat which needs about 20k plus work is a bit steep, however, all boats need work.

[Shaneesprit]

That’s what surveys are for
To tell your head to walk away, when your heart doesn’t want to

[Tonali99]

Originally Posted by MicHughV

I agree about being present at the time of the survey. It won't be the first time I stopped a survey after an hour or so, due to some or other problem or defect. Paid the surveyor for his time and effort up to that point, but didn't require a haulout or written report. Win-win for both parties.

Now that you've seen a few surveys you have a pretty good idea of what to look for. Consider your abilities and the time frame you have for getting aboard. How much can you do yourself vs. what you cannot.
Call around for ballpark estimates and tell the seller you want to deduct that cost. See how bad they really want to sell.

[Mickeyrouse]

You’re already prepared to spend $80k. I’d look some more and find out just what that will buy you that’s not a fixer-upper. And believe me, that’s what this boat is.

[SuW]

Originally Posted by Mickeyrouse

You’re already prepared to spend $80k. I’d look some more and find out just what that will buy you that’s not a fixer-upper. And believe me, that’s what this boat is.

Yep. Look at this nice steel schooner in Kingston, Ontario, Canada ~$60K US.
Lots of good gear, well looked after, many upgrades:

https://www.cruisersforum.com/forums...er-253032.html

[Lovedog100]

Personally, I would walk away. You can do much better.

[kaisardog]

Walk. Get the tramel moisture readings for inside the hull in the bilge and under floorboards. Was bilge dry ? Mildew, mold, spongy wood, cushions damage, ? Re insturmenting alone = 6 k. This boat cries out ‘ lack of maintenance.’ Re enginign is 20 k, did you have an engine Survey and oil analysis done ?

I d walk.


And DONT give the survey you paid for to anyone for free. Including your broker.

[JC Reefer]

Originally Posted by loneshark64

Headsail furler bearings are bad. The cabin was quite wet, the guy said he had left the hatches open during the tropical storm (??) and the teak/holly plywood was squishy in areas; in the galley is was shot. There were some hoses without clamps and things leaking that are easy to fix. A hatch also appears to be leaking. The forward and back cabin cushions are wet and need to be replaced.

There is over 15k on this paragraph. I also agree with others, sounds like a pattern of neglect. “Squishy” floors don’t happen after 1 stormy night. You’ll be spending more effort trying to resolve issues that the prior owner did not care to manage versus just dealing with normal upkeep. Hoses with missing clamps is another easy one that can total a boat.