Third survey

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russ

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Third time around I have another S34 of which a previous purchaser pulled out due to the survey results.
The broker has provided some points.

Trim tab not working
Bow thruster not working
Anchor locker door cracked/broken
Re-anti foul
Engines and legs servicing AD41’s
Search light not working.
Out of date extinguishers.

Before I contemplate getting my own survey or make any kind of offer.
What would you suggest a sensible price drop to cover the above to be sorted? Or should I entrust the broker to repair it before sale?
 
I would either ask broker to arrange repairs of the items not working or get estimates to fix and base your offer on that, there’s nothing too serious on that list, knocking a third off will probably be seen as nothing more than an insult.
 
Difficult to say what to offer as you haven’t said what the asking price is or other relevant factors such as condition, service history etc. Asking for things to be rectified is an option but you aren’t in control then - we had our fingers burnt some years ago when we did just that.

My approach would probably be to take a view on the asking price compared to others, work out what the worst case putting everything right would be then factor that into coming up with an offer, which would ultimately be what the boat is worth to me.

The key thing is do you want that boat and are you prepared to get it sorted?
 
With the exception of the outdrive servicing none of those issues is terrible, but overall it doesn't paint a good picture. If you press for the owner to sort those items that is all they will do. If the owners have neglected the boat there will be other issues.
So either make a very low offer - they might say yes. If they are offended so what.
Unless you get a sensible response then don't waste your time, lots of S34s and similar for sale, keep looking for one that has been looked after.
 
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IMHO ...

The broker has provided some reasonable points.

Trim tab not working £300 Minor
Bow thruster not working £600. Minor - it has two engines so superfluous really
Anchor locker door cracked/broken £50. is that it
Re-anti foul £120 - annual task of ownership note try to get the price down with this one
Engines and legs servicing AD41’s. At least £1000 (also an ongoing task of ownership, although this would be my most serious concern) an engine survey is definitely required by your own man.
Search light not working. £ So what Power boats don't go out in the dark !
Out of date extinguishers. £ 100

Welcome to secondhand boat ownership.

If the above list included some real defects then I would be concerned, but it your duty to yourself to achieve the best possible price, and the broker is obliged to pass on any offer, so

Let's assume this is a £50k asking price boat, it already has had several would be serious buyers walk (anyone who pays for a survey is very serious). This is a pseudo business transaction, so treat it as such and play your advantages.
So forget the Asking price, now turn the situation around, so say you now own the boat and are trying to sell it, and with these mostly trivial issues, what do you honestly expect the boat is worth, and this is a hard question, bit do not pay a penny more ?

The vendor has already had four would be serious buyers walk. I would offer a price without a further survey, and require that at least one recent survey is provided to satisfy the insurers, then what ever the median is between various asking prices and accepted prices (brokers know this BTW), then take 25 - 40% off and go in with a very straight face, and with your payment card ready to issue a deposit. But insist upon a walkaway without argument clause should you discover any issues not yet discovered. If you are offering a deal without a surveyor you are moving the offer dramatically in your favour as the vendor simply wants shot.

Remember your offer is your starting price, so better to keep it as low as possible. You might have to pay more, but offers from buyers can only increase, just as asking price from vendors can only reduce. Do not get embarrassed - this is not a purchase from a friend.

best of luck.
 
russ said:
Third time around I have another S34 of which a previous purchaser pulled out due to the survey results.
The broker has provided some points.

Trim tab not working
Bow thruster not working
Anchor locker door cracked/broken
Re-anti foul
Engines and legs servicing AD41’s
Search light not working.
Out of date extinguishers.

Before I contemplate getting my own survey or make any kind of offer.
What would you suggest a sensible price drop to cover the above to be sorted? Or should I entrust the broker to repair it before sale?
Click to expand...

A new battery or possibly a solenoid will probably sort the bow thruster. If so £100. Can the marina diagnose the fault?
Locker door £200?
Antifoul No deduction .its not a new boat.
Engine ang leg service No deduction
Extinguishers £100 ?
Trim tab actuator £250

All boats need regular service and any boat with no faults will develop a fault sooner rather than later.
 
Then make an offer.
If the bow thruster issue is confirmed as an easy fix I guess £77 k might be accepted .
Since the survey is recent will you need to have your own survey?
 
A new battery or possibly a solenoid will probably sort the bow thruster. If so £100.
.
Click to expand...
...and if the bowthruster shaft has either seized / sheared/woodruff key failed or motor burnt out, it could be obsolete model or manufacturer no longer in business.
Either a new bowthruster (possible complication of different sized tunnel) or finding somebody to machine up a custom replica replacement shaft.
Cheap fixes, ie.battery or solinoids tend to get done, 3K new bowthrusters, do not.
Can give examples of both bowthruster problems as mentioned above. In one case a new shaft had to be machined to save the day.
As for no allowance for lack of service history on those legs !
Somebody has already walked away, probably after forking out £1K for lift and survey !
 
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Without knowing the details of the issues I don’t know how people can suggest prices. Both could range from a loose wire to total replacement

Why did others drop out ? Boats.co.uk have a good reputation.
 
jrudge said:
Without knowing the details of the issues I don’t know how people can suggest prices. Both could range from a loose wire to total replacement

Why did others drop out ? Boats.co.uk have a good reputation.
Click to expand...

Fire extinguishers - best case is a quick weigh and sign off so £100 as above. Worst case; three new Seafire extinguishers (for engine bay, bow thruster compartment and fuel tank) you're not gonna get much change out of £2k including removal and re-fitting.
 
Apologies I dont know what a S34 should sell for so cant offer an opinion whether you should ask for a price drop based on defect or if that is already been factored in on the sell price. But it does make me wonder as I have had my own boat revalued for insurance after an extensive refit over the last couple years. I never set the value, the insurance supplied (recommended at least) surveyor did and so I am presuming it was a fair valuation and what I would sell the boat for warts and all without negotiation other than to further the sale. Who valued the boat, the S34, in this instance and is it valid opinion of worth? I confess that given the engine model in it, it does not sound like it's a newish model and the price you are paying to me seems wildly optimistic. Just as a comparison I'm guessing my boat is of similar age with early KADs (rebuilt by dealer in 2010) and with the refit has been marked as an "excellent example", is also a 34 foot sports cruiser, has a good if not excellent market reputation and comes with enough service history and paperwork to cover 3 large lever-arch files. Value 40k. Why on earth would you want to spend twice that for at best a like for like boat? I understand the price is market driven but that's the crux of it. It's not a real value of worth, at least imho.
 
kashurst said:
thats a big price for an s34, boats.co.uk have got one for sale at £67K https://www.theyachtmarket.com/boats_for_sale/1706108/
Click to expand...

Yes, but it is an older model with questionable cockpit upholstery and old electronics. Overall, the cockpit doesnt look so sharp and on this type of boat that is where you spend a lot of time and it is the first thing you see when going aboard.

S34 prices vary quite a bit depending upon age and version - having bought one last year I am fairly familiar with the market for them and ultimately I would say you get what you pay for. I have never been shy of making offers but these boats generally sell well so the suggestion on here of a 25%-40% price reduction are a little off the mark IMHO.

I would be interested to know why a previous purchaser walked away - none of the items listed are really show-stoppers so is there something else that hasn't been disclosed? That said, we walked away from one after survey last year and it was a combination of factors which taken together that meant we just weren’t happy, but none were necessarily insurmountable if the deal had been right and we had been prepared to take them on.
 
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