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Old 12-15-2005
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Can you sell a survey to the next

We just paid $500 for a survey and have decided not to buy the boat. The broker for the seller wants a copy. We are thinking that he can thus save the next buyer a great deal of money by passing on the survey we paid for. What is done in a case like this? Are we obligated to give the seller''s agent a copy of the survey. Can we say, "Next person who wants to look at the boat you can contact us and we will sell you a copy for $300." Is he beholden to tell the next looker that the boat did have a survey (and, in our opinion, failed miserably.) Thank you for your advice


Faith Andrews Bedford
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Old 12-15-2005
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Can you sell a survey to the next

Offer to sell it to him for a % of the price you just paid (and lost - because he as a broker mislead you if the failures were so ''glaring''), especially if the failures are beyond a point of negotiation to remedy them. You have no obligation to the broker nor seller - he didnt do HIS homework and you''re out $500. Why reward them for offering a boat that couldnt come close to passing a survey. Otherwise, I would not disclose ANYTHING listed as failure issues in a ''specific nature''. If you''re not going to further negotiate to either 1. fix the problems at sellers expense or 2. deduct such repair cost from the listed price, then why ''reward'' them by disclosing the failures.

There are some ''pre-survey'' books, etc. that perhaps you should consider before you offer a deposit on another boat. In this way the next time, your surveyor will ''verify'' your findings. Your pre-purchase agreement would then include time for *your* detailed pre-survey as well as a followup survey by an accredited surveyor. Your ''pre-survey'' could save you $$$.
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Old 12-15-2005
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Can you sell a survey to the next

The person who payed for the survey "owns" the survey report and can do with it what they want.

Review your contract. I just looked at the YBAA standard form and it just says that the buyer only has to notify the seller in writing whether they are accepting or rejecting the yacht, it doesn''t say that the buyer has to specify why.

When I bought my boat, the seller had had an informal survey done, and the broker did tell me about the results and showed me a copy of the surveyor''s sketch of the deck, but when I asked if he could make a copy of it for me, he deferred saying that the survey was the property of the seller and I would have to ask them.

I don''t know what kind of legal requirements for disclosure sellers and brokers are bound to, but I''m sure full disclosure is part of the ethics of the yacht broker''s association, so they would be expected to tell other prospective buyers that the boat did go to survey but you decided not to buy it.

Regards,

Tim
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Old 12-18-2005
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Can you sell a survey to the next

Thank you both for you advice. It is well taken. It was an expensive lesson to learn. But we learned it. And if someone wants a copy of "our" survey, we''ll sell it to them. Period.
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