Re: What Is A Boat Really Worth?
When my dad had his boat in Chicago, I knew that boat inside and out. Few surveyors could have provided better information about the condition of that boat than me.
James, you are absolutely right. The owner has knowledge of the condition of the boat. And they should divulge what they know up front. If they don't because they fear it will devalue their boat, aren't they offering the boat for sale fraudulently?
A real estate attorney told me if you don't divulge problems a homeowner should reasonably know, you could be liable for the cost of fixing it. Why shouldn't the same be true with boats?
Instead, the industry creates a system that creates jobs, and it's the buyer that supports it. There's little solace in the buyer being able to back out of the deal. They will never recoup the costs they incurred or the lost time. And if they walk and move on to find another boat, they will incur those costs again.