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post #4 of Old 03-09-2007
Here .. Pull this
Join Date: Jan 2007
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Hey Kacper ! Congratulations...welcome to poverty

I am sure that you'll get a lot of info, but I'll throw in my two cents...

1. Propane heater has to be taken out. Too dangerous and wouldnt get insurance.

Take it out - not an issue unless you are planning on living on it. YOu can put one in later - properly vented with sniffers and solenoids etc.

2. New navigation lights(the old ones are out of date and would not get insurance coverage for the boat with just those ones)

This may or may not be the case - a lot of insurers are going to write your policy over the phone - they won't see the boat, and will insure it as is pending upgrades. You will have to replace them eventually - not hard to do - figure $300 to do it nicely

3. electric LPG switch for propane stove has to be implemented, right now it's just a screw off/on for the propane tank that controls the whole propane deal

Important - but not hard to do. A complete control system sells for about $350.00 at Defender. You can install it as long as you follow the directions properly.

4. Propane hose from the tank to the stove has to be replaced with an adequate rubber hose, the current one isn't meant for propane.

$50 and a half hour - part of number 3 above

5. Batteries don't have socks to cover the diodes. And they are just automotive batteries, not marine batteries, they are also not tied down properly.

I would go so far as to say that at least half of the boats sailing right now have car batteries in them rather than marine batteries. Upgrade when you can afford it. Tie downs are about $20 and maybe two hours to install.

6. Needs new fire-extinguishers

$200.00 or thereabouts for 2 decent ones - check out Defender, or you can go to a hardware store...

7. Needs a flare kit

You are going to have to buy one of these every few years - might as well start now...

8. Needs to VHF radio. Current one works but really old and has a car spaker wired to it to be able to work(the previous owner was a bit of a "do it myself handi- man)

Get an inexpensive handheld one for about $150.00

So that's it.

Now, the surveyor's main comments were "You're paying way too much for this boat" After he checked the market data, he came up with a fair market value of $7,800 for the boat. My intial offer was $12,000

My questions:

1. Do you guys think those things that need fixing will take a lot of work / money? If so, how much?

See above

2. I still like the boat, but I do not want to pay $12K for it if that is indeed the value of the boat. I'm thinking to put a lower post survey offer in now, how much do you think would be good? I'm thinking $8,500, is that even too high?

Start low. Get actual prices for the necessary upgrades. Look at Yachtworld and a couple of other sites to see what people are listing for...same boat/year...deduct 25% and that should give you a reasonable estimate of what they are actually selling for.

Is it in line with what your surveyor says ? If so, then yes - you take his value and you deduct the cost of the propane upgrades and the nav light upgrades from you offer. If he won't sell then keep looking.

If you surveyor's estimate seems low, then find out how familiar he is with your segment of the market. Ask around, ask him, whatever...if he usually surveys 100 foot diesel yachts, he might be a bit out of touch with smaller sailboats...

Good Luck - Keep posting !!
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