Damage revelation after offer - what to do?

[[3889]]

I've just made an offer on a boat which was accepted in principal but with the acceptance came a revelation that underwater damage from a collision with an unknown object (30cm below waterline) has caused hull delamination over 0.3m^2 approx. This will be repaired by the current owner's insurers. The damage was revealed, apparently as a soft spot in the hull, after I had inspected the boat and it was subsequently hauled. No water ingress has occurred.
To further complicate matters, I am p/ xing my current boat boat as part of the deal and the broker has knocked money off the original p/x offer as my boat has had, admittedly, a more serious repair in the past.
So, I have two issues:
1. Should I retaliate with a lower offer as my potential purchase now has a repair?
2. The current owner has been portrayed as fastidious and, to be fair, has the invoices to support this claim. However, I'm wondering if disregarding a (hard to ignore?) collision which caused this level of damage suggests otherwise.
Nothing has been signed yet.

 

[Poignard]

The fact that you are asking advice at all suggests you are a bit uneasy about this boat; and the whole deal.

If it was me, the only two options that would make me happy about it would be either to walk away from the deal (I assume your offer that was accepted was conditional, ie 'subject to survey'), or to receive a counter-offer tempting enough to overcome my unease.

Sorry, if that's not very helpful but it's how I would look at it

 

[pvb]

Nothing has been signed yet.

Walk away then.

 

[[3889]]

And then what? Wait for the 'perfect deal'? Does it exist?

 

[CAPTAIN FANTASTIC]

Opportunity to make a better deal.

 

[oldharry]

The fact that you are asking advice at all suggests you are a bit uneasy about this boat; and the whole deal.

If it was me, the only two options that would make me happy about it would be either to walk away from the deal (I assume your offer that was accepted was conditional, ie 'subject to survey'), or to receive a counter-offer tempting enough to overcome my unease.

Sorry, if that's not very helpful but it's how I would look at it

May be uneasy about the repair, but methinks even more so over the amount of his offer after having his own boat devalued by the broker in similar circumstances. Suggest to the broker that the boat he is selling should be similarly discounted and see where it goes? they are both boats that have needed significant structural repairs. Both should be discounted accordingly.

 

[pvb]

And then what? Wait for the 'perfect deal'? Does it exist?

There are loads of boats for sale...

Many of them haven't suffered collision damage.

 

[[3889]]

There are loads of boats for sale...

Many of them haven't suffered collision damage.

There are 100 of this model in the world. This is (was) my 1st choice of the 4 currently for sale, one of which to my knowledge has suffered a dismasting.

 

[pvb]

There are 100 of this model in the world. This is (was) my 1st choice of the 4 currently for sale, one of which to my knowledge has suffered a dismasting.

Make and model?

 

[Resolution]

The fact that you had agreed to buy the boat indicates that , prior to the info on damage, you were happy with the boat at the agreed price. Fibreglass is often easily repairable to original standards, but this does depend on the location of the bash, as well as the type of hull (single skin, cored etc). Assuming that it can be repaired OK, my advice would be certainly to stick with the deal but to require a sensible minor price adjustment.

 

[dunedin]

Couple of relevant factors are
* what is the hull construction at the point of delamination? Presumably not solid GRP as delaminated, so perhaps foam or balsa core? Getting damp into the core could be a worry for wider trouble, particularly I suspect with balsa core;
* who is doing the repair? Is it a reputable company familiar with repairing complex laminate hulls?
Might want to get repair done and see survey report before committing. Very odd not to declare this damage pre sale, as if planned to be repaired at best there would be a material delay to your being able to take delivery.

Having said all that, if it is a rare and otherwise perfect boat, it might be worth proceeding - but after repair is done, inspected by your surveyor and a price adjustment made.

 

[Frank Holden]

Make and model?

Sounds like an Oceanlord....... 112 built... 4 currently on Yachtworld....

Early ones ... like the Sealords... known for losing masts ....

 

[anoccasionalyachtsman]

There are 100 of this model in the world. This is (was) my 1st choice of the 4 currently for sale, one of which to my knowledge has suffered a dismasting.

All other things being equal, I'd rather have a boat that had been dis-masted than one with underwater grp damage. (Speaking as the owner of a boat with a history of underwater damage).

 

[shaunksb]

If it really is the boat you’d like,

1) Make sure the repair is carried out to the satisfaction of your surveyor.

2) Adjust your offer according after making sure your surveyor is happy with everything else.

Sometimes we can get precious about things being “perfect”.

I‘ve had two new cars that were both severely read ended within six month.

A proper repair and they were fine.

______________________

 

[Sandy]

but with the acceptance came a revelation that underwater damage from a collision with an unknown object (30cm below waterline) has caused hull delamination over 0.3m^2 approx.

You walk away. There are several hundred thousand boats for sale worldwide. Something out there will be a much better fit.

Clearly the seller was not honest, what else will you find out about the boat?

 

[Iliade]

One that has been dismasted will have new mast & rigging. All other things being equal that has to be the best. So long as a survey doesn't fine underwater damage there too.

 

[Stemar]

What's the likelihood of balsa core below the waterline? A soft bit of hull does rather suggest it, but we don't know.

Presumably, the OP knows what's there, or can easily find out but, for me, there would have to be some really good reasons for wanting that model over the dozens of similar ones with solid hulls. There may be no water ingress to the interior, but you'll only find out if it's got into the core when it's opened up. While I've no personal experience, soggy balsa seems to me to be a nightmare I wouldn't want to risk.

 

[V1701]

I'd be more concerned about the fact that they weren't honest & up front from the outset than the damage per se, which may or may not put me off buying the boat after repair. For now I'd simply let them know that you'll be happy to take another look at the boat (if you haven't bought in the meantime) after the repair, putting the ball firmly in their court...

 

[doug748]

I'd be more concerned about the fact that they weren't honest & up front from the outset than the damage per se, which may or may not put me off buying the boat after repair. For now I'd simply let them know that you'll be happy to take another look at the boat (if you haven't bought in the meantime) after the repair, putting the ball firmly in their court...

Indeed. Tell them in a good ole fashioned letter:


"...........I was surprised to hear about the soft spot in the hull and in the circumstances it is probably better that I withdraw my offer pending the documented repair.
This will give me time to collect my thoughts and not inconvenience you should another prospective buyer emerge..............etc etc"


That will focus their ideas, prior to your revision.

 

[[3889]]

Thanks to all for responses.
The boat is an Xc 42.
Not sure if I've used the right term with 'delaminated'. One square foot of hull is soft and pliable but it is solid GRP without a core in the area of damage. As V1701 says, it's the "by the way" nature of the damage revelation that concerns me as much as the damage itself. Assuming a professional repair, though detectable by a competent surveyor, will this devalue the boat?
A further complication is Brexit day - the broker and I are quite keen to complete beforehand.