Boat valuations and action available.

[chriss999]

Seems a great boat. Why not keep it and use it when you’ve recovered from the op. Something nice to look forward to.

 

[ylop]

Getting a survey on a boat is a bit like having a survey when you buy a house. It may not tell you much that you don't already know (although in this case it would), but is there to satisfy your lender that the house is sound and value greater than the loan. So if you want to insure your £25k you may have no alternative but the spend the £500 and get a survey.

And often are pointing out things which you might not care about but future buyers might - and so affect your ability to sell quickly for maximum price.

 

[steve yates]

Why criticise? I have no issue with the vessel itself. I was aware of its condition before doing the deal, it is only the date of manufacture which is the fly in the ointment.

But I’m sure that part of your original complaint was that there were a lot of defects which you had to spend time and money on sorting?
The only issue with the age really is that you need a hull survey you were not expecting to have, its no big deal unless you know you have a hull problem? So why on earth are you bothering about minor crap like this when facing such major surgery? You have a nice wee boat now, stick it on its mooring, get your op and recovery over wi5 then go out and enjoy your boat. The boat itself is just the means to an end, pottering around on the river will do your op recovery amd stress levels no end of good.
(Ed for sp)

 

[Black Sheep]

The only issue with the age really is that you need a hull survey you were not expecting to have

But does he really need to have a hull survey? Or is it just the particular policy he chose that would require one? Other policies are available. Not all will need a hull survey.

 

[dunedin]

But does he really need to have a hull survey? Or is it just the particular policy he chose that would require one? Other policies are available. Not all will need a hull survey.

Yes, I think that is just another of the OP's misunderstandings due to lack of experience (a case of Rumsfeld's "unknown unknowns" springs to mind).

There is no blanket rule, as the Op suggests, that a survey is needed at 30 years for insurance reasons - it depends on company and policy. Many require at 25 years - which would have applied even with a 2000 build date. Some policies don't seem to require this. But it is a variable factor based upon insurance policy.

And again as often said on here for first time buyers and older boats, the advice is generally "get a pre purchase survey done as may be needed for insurance purposes anyway".
Plus if there were any significant defects, a survey report can generally result in a price reduction that more than covers the survey fees.

Lessons learnt, but hopefully it looks like the actual financial cost / loss might be minimal anyway - at least compared to selling within a year of doing so many upgrades, which always tends to be a loss maker.

 

[potentillaCO32]

I am very au fait with Small Claims litigation so will need no advice with that. ;-) I have a dozen or so cases under my belt and won every one, including taking on the NatWest who tried to financially destroy me after the 2008 crash.

Gosh...
I have managed to luck through life without ever having to take out small claims litigation. Must be the odd one out.

 

[Otter]

I don't want it to turn into a legal fight, it should not be necessary; just a 'bullet in reserve'. Besides that, I am waiting to go into hospital for open heart surgery and don't want the stress of having to brush up on my knowledge, my last case was a few years ago (invoices owed by a Housing Association).

All of the undeclared faults point to is being deliberately mis-described but I'll keep my powder dry for now. It may all be able to be resolved amicably, or the broker might get far more than I expect on its sale.

All the best with the operation, hope everything goes brilliantly with that

 

[Purple Velvet]

Gosh...
I have managed to luck through life without ever having to take out small claims litigation. Must be the odd one out.

Have you been a car restorer, contractor and retailer for the last 45 years? Tragically litigation is sometimes necessary as a last resort, when all other methods have failed. Examples include unpaid invoices, tenant arrears / damage, eviction and defending myself against the Natwest who tried to financially destroy me in 2011. That one cost them £24k plus all costs. Which was nice but a very stressful two years. That was when I became skilled in the art of litigation in person. Now? I would definitely need to brush up. ;-)

 

[Purple Velvet]

Little update. The broker suggests that with a survey and cleaning / finishing, they would list it at £24950 with a commission of £2400 inc. I think that is a bit ambitious, but let's see. Commission includes up to six months on their mooring / sales area.