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Old 01-30-2014
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Re: 10K$ boat --- Are Insurance and Survey REALLY mandatory?

Nope you don't need a survey.
You're an idiot not to get one, considering that a survey is essentially free.
Might cost you $750 to have the boat surveyed. Chances are, the surveyor will find enough wrong to justify reducing the price of the boat by at least $750...
so, the survey cost nothing.
Or, the survey uncovers deficiencies that far exceed the cost of the survey, your comfort level or your budget... in which case, the survey saved you more than $750...
so it is free.

If you can't afford a survey, gutcheck yourself about whether you can afford a boat.

The only two reasons to forgo a survey:
1. You can afford to lose the entire 10K you sunk into the boat because it requires thousands of dollars of work over the next year or so that you can't afford, so the yard claims your boat...
2. You are way under market on the boat, you know what you are getting into, and expect to be purchasing a project that you expect to spend thousands and thousands of dollars on...
then forgo a survey.

It's your money.
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