To survey or not to survey

[CharlesM]

Hello all

Reading about cowboy surveyors, and having heard one or two stories one has to wonder whether or not to have a survey done.

In my situation I am looking at a ferro-cement boat, which feels pretty comfortable and, should we reach a mutually agreable price, I need to decide on a survey or not. I have heard say that it is virtually impossible to survey a ferro-cement boat!? any comments on this?

The boat is 20+ years old, which is an indicator to me that if she was badly built she would have sunk already. A survey is required for insurance purposes, but when I did some research on full insurance for a similar vessel about a year ago I was quoted about £1500 per annum! Survey including haul-out would have been in the reagon of £1700. We are talking 43' so dont know if these were stupid quotes, or if the ferro-cement issue is simply taken advantage of.

Can I use a pre-purchase survey for insurance purposes.... would I need to pay extra for 2 reports...

(pulled out of that deal as the vendor would not sell subject to survey - price was agreed on... )

Regarding word of mouth recomendations on a surveyor... is a foreign boat (spain) and how many people survey ferro-cement boats anyway so dont really think that is a viable option.

Comments?

Cheers
Charles

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[jonjo]

> Can I use a pre-purchase survey for insurance purposes

Would think so, a full condition pre purchase survey is more in-depth than a checkup done for insurance purposes.

Two thirds of the value of the yacht will be in the non ferro cement parts, so you could justify a survey on this alone.

I would tread very carefully with a ferro boat purchase, as a starting point you could phone up the surveyor associations and ask them to name some specialist ferro surveyors.

Hope you understand how difficult it will be to get your capital back when you decide to sell the ferro boat.

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[discoduck]

Always have a survey.It is money well spent. I have just bought a boat last October. Because it looked in good condition. I was tempted not to have a Survey. The Marina Manager told me otherwise.I had it surveyed and it saved me £4800 which I knocked off the price. £275 to save £4800 got to be good

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[david_e]

If your purchase turns out to be a nightmare, think you will feel pretty sorry not having had it done. Then when you come to sell other purchasers are likely to get a survey done.

You can share your concerns with a good surveyor, ask them about their experience with this type of boat etc, if they have none - who they might recommend. Don't forget they will be working for you so they act on your instructions. There might be some difficulties with ferro cement but as others have indicated they might well be able to tell alot about the boat that can be ckecked over.

My experience with an experienced surveyor was enlightening, quelling many incorrect thoughts I had and teaching me alot in the process.

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[Birdseye]

Many surveyors will promise you enough minor problems to at least recover their fees and a bit of profit. So on that basis, you might as well have the survey anyway - the vendor is paying!

<hr width=100% size=1>this post is a personal opinion, and you should not base your actions on it.

 

[CharlesM]

regarding modifying the purchase price on the results of a survey... I guess this is standard practice, but the vendor is not obliged to modify his selling price in light of the survey is he?

Anyway, regardless of that, I have decided I will have a survey done. I guess I should see it as a form of insurance... Now the tricky thing is to find a good ferro-cement surveyor.

Charles

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[jonjo]

Beware that the - offer - survey - haggle some more - approach to buying a yacht does not apply in all European countries.

The Dutch system is:

Owner only itemizes things in inventory that work and highlights known faults.
Offer is made.
10% Deposit is Paid.
Survey.
Owner rectifies new issues raised by survey at own costs up to 10% of offer value.


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[Mike2822425]

Thought for the day!

Concrete sinks, plastic floats (just), so what is wrong with wood?

It may deteriorate, but it still floats.

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[Chris_Robb]

The contract

Charles - before you put a 10 % deposit down, you must have a contract with the owner - which outlines the conduct for the sale. This must include a declaration that the boat is unencumbered with debt (mortgage , outstanding berthing bills etc) and very importantly how after the survey you get your money back if the survey shouw problems that you don't want to know about. It must also detail how to deal with problems of a more minor nature that which had not been disclosed to you or taken into account before you made an offer.

the vendor must provide proof of VAT status and ownership.

If it is a private sale - and you do not have this kind of arrangement - walk away.

If you need an example contract PM me with your email address.

As regards Fero = there are some good ones and some bad - most insurers think there all bad which is bollocks - they will normally be difficult to sell as the market is very small - people don't want the hassle of finding insurance etc.

Good luck



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