Originally Posted by TJC45
That's a good point. My take, generally speaking, is that a home sale is a done deal for more reasons than the house itself. The neighborhood, location, the grounds, school systems etc. Buyers are unlikely to make an offer on a house where they believe a major walk away issue exists. Yet in boatdom, this is the way it's done. Making an offer on a boat, I don't want to be out a $1000 or more just to find out the boat is a pass.
I once was interested in a Pearson 35. Problem was the coach roof was warped by the roof stepped mast bearing down on it. That was an expensive problem to fix. Yet not reflected in the price. "Make an offer and let the surveyor figure it out." OK i do that and he tells me I got good news and i got bad news. The good is that the oak block under the compression post is toast. And that can be fixed. The bad - the cabin roof is permanently torqued so the boat is junk, do i get my $1000 survey fee back?
You are buying a used boat without a warranty so there is always risk.
In your Pearson example, suppose you had spent the $1,000 on a survey prior to making an offer and then the seller rejects what you offer him? You donít get the survey money back.
Suppose after you pay for the survey but before a contract is ratified another buyer comes along and offers the seller a higher price? You donít get the survey money back then either.
These contracts are supposed to protect the rights of both parties as best as can be foreseen.