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Thread: Third survey

  1. #1
    Join Date
    Nov 2009
    Location
    North East Hampshire
    Posts
    577

    Default Third survey

    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 AD41ís
    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    Out of date extinguishers.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?

  2. #2
    Join Date
    Jul 2011
    Posts
    309

    Default Re: Third survey

    Knock a third off and see what happens.
    Things like trim tabs and bow thruster could be cheap 5 mins to repair or could cost thousands

  3. #3
    Join Date
    Oct 2016
    Location
    UK
    Posts
    652

    Default Re: Third survey

    I would either ask broker to arrange repairs of the items not working or get estimates to fix and base your offer on that, thereís nothing too serious on that list, knocking a third off will probably be seen as nothing more than an insult.

  4. #4
    Join Date
    Jun 2002
    Posts
    2,773

    Default Re: Third survey

    Difficult to say what to offer as you havenít 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 arenít 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?

  5. #5
    Join Date
    Oct 2003
    Location
    west yorkshire
    Posts
    3,736

    Default Re: Third survey

    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.
    Last edited by kashurst; 15-05-19 at 21:41.

  6. #6
    Join Date
    Feb 2013
    Location
    Home: Bristol, Boat: Torquay
    Posts
    147

    Default Re: Third survey

    Not sure you are going to get much of a sea trial - I'd agree with Kashurst and pass on it.

    DW

  7. #7
    Join Date
    Jan 2012
    Location
    South Coast
    Posts
    5,086

    Default Re: Third survey

    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 AD41ís. 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.
    Interested in Corvettes PM me for details of the Corvette Motorboat Association

  8. #8
    Join Date
    Feb 2008
    Location
    Farndon
    Posts
    2,861

    Default Re: Third survey

    Quote Originally Posted by russ View Post
    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 AD41ís
    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?
    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.

  9. #9
    Join Date
    Nov 2009
    Location
    North East Hampshire
    Posts
    577

    Default Re: Third survey

    It’s on at £80k. I agree that servicing and AF are part and parcel of owning a boat but it still needs taking into account that it has to be done.

  10. #10
    Join Date
    Feb 2008
    Location
    Farndon
    Posts
    2,861

    Default Re: Third survey

    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?

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