what does "subject to survey" mean

[tcm]

what does \"subject to survey\" mean

as a matter of interest?

Subject to having a survey means the resuilts could be no good.

It's not much better with a deposit being paid subject to "satisfactory" survey cos the survey could all be done correctly and formatted nicely - but the boat which the highly satisfactory survery decsribed was in fact a deathtrap, maybe.

 

[KevB]

Re: what does \"subject to survey\" mean

I think it means that you agree to do something (buy a boat maybe) subject to a survey not showing up anything that you would not reasonably expect to find that has an adverse effect on the quality or worth of something (like a boat maybe).

 

[MrG_2]

Re: what does \"subject to survey\" mean

Reading your missive carefully, am I right in thinking that the survey comes out ok but the boat is knackered and just about to roll over and die?
If thats the case then the surveyor would need to answer a few questions and have his cheque book ready- although that would be after some argy bargy.
Alternatively the survey is good, or as good as it could be for that particular boat, but the boat is naturally a death trap and was designed as such and there'll be no compensation.
wysiwig.....

 

[Lee_Shaw]

Re: what does \"subject to survey\" mean

do you mean, what if the survey comes back saying the boats an old pud, can you pull out altogether and get the deposit back or have you still gotta buy but can renegotiate price?

Or is it that the survey comes back all i dotted and t crossed, even bound with a front cover with a picture of the craft showing sail plan and everything but says it's a pud you haven't got a leg to stand on and have gotta buy the old girl regardless because the survey was carried out satisfactorily.

dunno.

 

[benjenbav]

Re: what does \"subject to survey\" mean

Probably very little. Everyone gets carried away with "subject to..." wording but the only one that's actually tested by the courts is "subject to contract" where there is established precedent that it indicates an intention not to be contractually bound.

 

[Evadne]

Re: what does \"subject to survey\" mean

"Subject to survey" is your way of saying to the vendor: "Look mate, you know I've already spotted the delaminating bulkhead and the oil leak from the engine, and knocked 500 quid off my offer. This is your last chance to suddenly remember any other little features you've neglected to tell me about, before the gloves come off."

 

[duncan]

Re: what does \"subject to survey\" mean

whilst I like your summary a lot for practical application..........I believe that you are entering into a contract to buy the boat (applying it to baot purchase) at a price you are offering subject to a (professional) survey confirmin that the boat is a boat etc. If the offer is accepted then the seller would be in breach of contract were he/she to decide not to sell the boat to you for the price agreed as would you be if the survey came back saying 'it's a bonny boat' and you decided not to buy it anyway at that price. Equally if teh survey came back with a fault it would be up to the buyer to establish that this was 'fundamental' to the contract or continue with the purchase subject to an appropriate financial adjustment.

 

[Malcb]

Re: what does \"subject to survey\" mean

As you say, when you say "subject to survey" what you really mean is "subject to satisfactory survey", but you don't mean that the survey is carried out satisfactorily, you mean that the survey does not find any undislosed problems.

However when I bought my boat, although I said that verbally when making the verbal offer I then entered into a written agreement for the sale and purchase of the boat which set out in writing the definitions (among other things) regarding the survey and what course of action would be taken if any material defects were found at the survey which had not been disclosed in writing prior to signing the agreement.

This was through a broker and I would have thought that all boats bought and sold through brokers will use a similar written agreement.

 

[Parsonsheath]

Re: what does \"subject to survey\" mean

When we got into the market we made bids on 3 craft,I hasten to add one at a time till duff surveys showed faults! on each we paid 10% depost, the broker did the paperwork (RYA!), then the survey!

On the first and second the surveys showed problems which had not been apparent to us, or apparently to the sellers, had the sellers made good the faults or made substantial allowances I am sure that would have been acceptable to the governor and myself, but they returned the deposits, and presumably remarketted looking for someone even greener than us!

Third time lucky! Surveyor knew the type, had sailed one, gave a long list of stuff which he suggested we do to get to know the craft, and suggested some sensible low cost improvements which we could do at the same time, we did not expect a Rolls for Ford prices and were happy.

I would always use a surveyor, the worst craft we looked at was marketted by a very reputable company who had taken it in part exchange, and although they denied knowledge of the faults we later found they had been told of these by their surveyor!

Surveys cost, but saved us a fortune!

 

[Ariadne]

Re: what does \"subject to survey\" mean

As I've just been through this, this week, my interpratation was as follows.
1. My initial offer is subject to survey, and sea trial (why do so many people buy a boat without first sailing it?)
2. It gives me a bargining point if/when the survey finds a fault .
3. When/if my surveyor finds a fault I can negotiate a difference in price to accomadate a repair to my satisfaction.
4. If the survey finds the boat is a dog, I can pull out of the sale/purchase and get my deposit back.

As the buyer, the ball is firmly in your court ,and you have have to rely on your surveyor for an unbiased, valued judgement on the vessel.

I dropped the purchase price by a couple of grand, by adding this clause. But I still have to carry out a couple of repairs, but they will be carried out to my satisfaction.

 

[Moodyjim]

Re: what does \"subject to survey\" mean

In other words, when you both get your gear off and she's got smaller bitts than you thought, you can say "nay" and get off home to the old trout?