Buying a Meridian 341 with known faults

[mta102]

Hi everyone
Boating newbie here.
I am looking at a Meridian 341 with twin Cummins QSB 5.9s. Beautiful boat and within my price range. However, seller indicates these faults (there may be more but not known yet):
1. Port engine apparently cannot rev beyond 2000 rpm. It spools back. He said it is a sensor problem, but who knows.
2. Only flybridge gauges work. All lower deck gauges are not working.

How can I identify other issues pre-sale - do I need a marine surveyor?
Any idea what might be causing the two faults, and how much might repairs cost in the US (so I can negotiate accordingly)?
Would you buy this boat if you were me?


Appreciate any pearls of wisdom!

 

[Boaty_Pete]

Never pay more for a boat than you can sensibly write-off, without a survey.
A professional surveyor cares not if you buy the boat or not, so can be very objective and is eminently qualified to give you significantly more valuable advice than a few muppets on a forum. (Intended as truthful humour, and I include myself).
The engine issue could be a sensor, or one of a dozen things I can think of, and 3 of them require an engine-out.
The guage issue can be a single large connector coming apart, or another half-dozen things.
Get a surveyor.
Good luck and do feel free to ask more. We've all got opinions. ;-)

 

[mta102]

Never pay more for a boat than you can sensibly write-off, without a survey.
A professional surveyor cares not if you buy the boat or not, so can be very objective and is eminently qualified to give you significantly more valuable advice than a few muppets on a forum. (Intended a truthful humour, and I include myself).
The engine issue could be a sensor, or one of a dozen things I can think of, and 3 of them require an engine-out.
The guage issue can be a single large connector coming apart, or another half-dozen things.
Get a surveyor.
Good luck and do feel free to ask more. We've all got opinions. ;-)

Thanks! Surveyor it is then...
How much should I knock down the price as a worst case for these two (known) faults?
Is USD 20k enough, or more?

 

[Boaty_Pete]

It's such a difficult situation.
It's in the previous owner's interest to resolve these issues before sale to help bolster the sale price.
The fact that has not happened is either he's lost the will, and wants out, or has half an idea it will be problematic/time consuming/expensive and can't be arsed, or he actually knows it will be problematic/expensive.
You can live without guages and still enjoy the boat. Then fix them (in multiple ways), when it suits you. There's even some work-arounds.
However a boat with a sick engine is painful, impactive and can be stressful. Tread carefully.
Is there not an option work with the seller to resolve the engine issue together, as part of an agreed sale that benefits you both?
If it's fixed by an engineer, you pay more for the boat but with less peril. If that's not an option, I'd want a discount to the value of a quotation to remove, rebuild and refiit the engine.
If it ends up being trivial, you win. If it ends up as a blown cylinder, you've got the balance to repair it promptly and get back out on the water. Remember, a boat in the yard isn't giving you what you paid for so you always need to factor down time.
We've lost 2 seasons in 14 years due to issues, but the bills still need paying.

 

[simonfraser]

'Beautiful boat and within my price range'
does that include repair & maintenance ?
don't buy a boat with known issues unless you are able to spent significant money on fixing it
plenty of other boats for sale, buy one that is sound imo
might be smaller but less of a head ache

 

[mta102]

'Beautiful boat and within my price range'
does that include repair & maintenance ?
don't buy a boat with known issues unless you are able to spent significant money on fixing it
plenty of other boats for sale, buy one that is sound imo
might be smaller but less of a head ache

Yup. Budgeted 10% of the boat's value annually in repair & maintenance.
Just need to know how much to knock off the price for the known issues

 

[PaulRainbow]

Thanks! Surveyor it is then...
How much should I knock down the price as a worst case for these two (known) faults?
Is USD 20k enough, or more?

You don't know how much it will cost to fix so make it a condition of sale that the seller gets the faults fixed before you proceed.