jakew009
Well-Known Member
Just on this point, it absolutely works.
In fact you can usually “evict” another buyer who thinks he’s already agreed to buy the boat “subject to survey”.
Survey on a new (ish) boat?
- Thread starter Little Ricky
- Start date
Just on this point, it absolutely works.
In fact you can usually “evict” another buyer who thinks he’s already agreed to buy the boat “subject to survey”.
Tranona
Well-Known Member
Not if there is a contract in place. That is the whole point of using a contract - to avoid being gazumped. The contract is 2 way - the seller has to sell, and buyer has to buy, subject of course to the terms of the contract and conditions being met.
jakew009
Well-Known Member
I bought a biggish rib, not long ago, from a well known broker, where they had already taken a deposit from a buyer waiting for a survey. I offered to pay for the whole boat there and then and tow it away. They took my money.
I’ve no idea what he said to the other buyer but I imagine it was along the lines of, the boats no longer available, I will send your deposit back.
In reality what’s the gazumped buyer gonna do? Sue? For a boat that no longer exists and that no doubt they will come up with some excuse why they had to cancel.
markc
Well-Known Member
Someone did that to me many years ago. I had viewed the boat, paid a deposit and on the morning of the survey, the surveyor phoned to ask where the boat was. Apparently the vendor took a cash bid the day before and the boat was already on the way to Holland. I wasn't best pleased. The boat I ended up buying was better, so all's well that ends well.
Tranona
Well-Known Member
That suggests there was no contract. Just paying a deposit is not normally enough to create a legal contract. Was the "broker" also the owner of the boat?
aerobat
Well-Known Member
That sounds a bit odd . When i bought my last boat i negotiated a price and signed a full contract where a deposit was agreed initially and the full price to be paid after survey , setrail and delivery of the boat .
Should the survey find something , the costs of the repair will be cut from the price .
One major benefit of a survey is you have a clear , written report of they surveyor and not an back and forth argue with the seller . Further benefit of such a contract is when you buy in winter storage where a survey ( seatrail , engines ) is not possible at all until spring .
With this kind of a contract the seller can be sure you are serious about buying and you can be sure he is serious about the boat , because if not , anything found will be nevertheless fixed by a yard on his costs.
A survey is not a guarantee the surveyor will find everything , but a clear written report to make the seller liable for any hidden issues .
Should the survey find something , the costs of the repair will be cut from the price .
One major benefit of a survey is you have a clear , written report of they surveyor and not an back and forth argue with the seller . Further benefit of such a contract is when you buy in winter storage where a survey ( seatrail , engines ) is not possible at all until spring .
With this kind of a contract the seller can be sure you are serious about buying and you can be sure he is serious about the boat , because if not , anything found will be nevertheless fixed by a yard on his costs.
A survey is not a guarantee the surveyor will find everything , but a clear written report to make the seller liable for any hidden issues .
jon and michie
Well-Known Member
Not sure if its been mentioned but - There is /was a forumite that had an issue on a brand newish Bavaria and he / she had a battle on their hands regarding warranties where the dealer and manufacturers were dragging their heels.
The question you have to ask yourself is - for the cost involved on a survey is it worth the risk over buying a lemon??
jakew009
Well-Known Member
No separate, but I had spoken to the seller, he needed the cash and I think he made that known to the broker.
My more general point is that money talks, and if you are going to “faff” around with a survey there is always a chance some cunning buyer steals your dream boat from underneath you. Life is full of risks.
Looks like same thing happened to another poster.
Sticky Fingers
Well-Known Member
You'd never book the survey before signing a contract. And if the vendor reneges on the contract you can go after them (if you have the appetite). I'd doubt that any reputable broker would take a cash offer once a contract was signed.
Tranona
Well-Known Member
If it was with the seller's agreement and a contract was in place then the buyer could force the sale. Seems like there was no contract or the potential buyer also agreed.
No, money does not talk in the way you imply once contracts have been signed. If you have ever been involved in a contracts race when buying or selling a house you will know that it is the signing and exchange of the contract that stops the "money talks". No different with boats.
aerobat
Well-Known Member
as written above that would be an intentional breach of contract which can have very serious consequences for the seller .
Needleas to say , of course never ever place a deposit without a written contract in your hands .
jon and michie
Well-Known Member
benjenbav
Well-Known Member
Going back to the original question, I would want a survey on just about any boat that I was buying with the following exceptions:
1. If I didn’t mind losing 100% (or more) of the price if it turned out to be unusable. So, mostly low value items.
2. If I felt confident that I could spot every material defect that a surveyor would be likely to spot. Unlikely, in my case.
3. If I was buying brand new and the manufacturer was financially able to stand behind the product (or procure a third party guarantee for same). Not a given in the boatbuilding world, imho. On a high value bespoke new boat, I would want my surveyor to have inspected throughout the build and to sign it off even if the builder was able and willing to stand behind the the product in a meaningful way.
I’d also want a good engineer to sign off on any pre-used motor(s), bearing in mind that this requires a different skill set from surveying and likely a different person.
I’d also want to know that the vendor could give good title to the boat. But, remember to be wary of drawing too many parallels with buying a house; there are some important differences - and not just that only one of them floats (even on a good day).
Different folks have different appetites for risk, of course. The above are just a few of my prejudices.
1. If I didn’t mind losing 100% (or more) of the price if it turned out to be unusable. So, mostly low value items.
2. If I felt confident that I could spot every material defect that a surveyor would be likely to spot. Unlikely, in my case.
3. If I was buying brand new and the manufacturer was financially able to stand behind the product (or procure a third party guarantee for same). Not a given in the boatbuilding world, imho. On a high value bespoke new boat, I would want my surveyor to have inspected throughout the build and to sign it off even if the builder was able and willing to stand behind the the product in a meaningful way.
I’d also want a good engineer to sign off on any pre-used motor(s), bearing in mind that this requires a different skill set from surveying and likely a different person.
I’d also want to know that the vendor could give good title to the boat. But, remember to be wary of drawing too many parallels with buying a house; there are some important differences - and not just that only one of them floats (even on a good day).
Different folks have different appetites for risk, of course. The above are just a few of my prejudices.
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Little Ricky
Well-Known Member
Thank you to everyone. I lost the boat. 2 other bidders offered a no survey cash offer and their offers were heavier than mine. I wont mention what boat it is or what price in case it is anyone on this forum.
Baggywrinkle
Well-Known Member
Bad luck, but it's a buyers market ... something else will turn up.
Sticky Fingers
Well-Known Member
Losing the boat on price is nothing to do with the survey; your valuation was too low.
Little Ricky
Well-Known Member
Absolutely. Their val was higher than mine and could also offer a fast no survey sale. Hey ho.
Little Ricky
Well-Known Member
I don't suppose there is a shortage of nice, used 30 foot cruisers for sale, so the journey continues. No rush.
jon and michie
Well-Known Member
Are you looking in the UK ?
There is this one -- 2005 Sea Ray Sundancer 315 For Sale - Clarke & Carter
there is a used boat show going on in Suffolk this coming weekend.
As other's have said it definitely is a buyers market plus on the boat you lost out on it could turn out to be a lemon - when spending a lot of cash on these - to "lose" a few hundred on a survey is nothing compared to owning a lemon with regret
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