Join Date: Feb 2010
Location: Narragansett Bay
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Re: What Is A Boat Really Worth?
And if you don't want it you're out the cost of the survey, haul out and whatever else you paid for to find the problem(s) that killed the deal.
That's exactly right. Be glad it is acceptable to do such a detailed inspection when buying a boat. Losing these monies is much less than the cost of a lemon.
It's not complicated at all. It's just run-of-the-mill CYA. You cover yourself when you buy a house. You cover yourself when you buy a car. Why shouldn't you cover yourself when you buy a boat? I really don't see any problem with this. It's done all the time for major purchases.
The cover in each of these isn't nearly the guarantee of the yacht/survey rights. Find one yu like, hire a surveyor and press forward.
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In the harsh marine environment, something is always in need of repair. Margaritas fix everything.