Trusting a "Recent" Survey? - SailNet Community
Reply
 
LinkBack Thread Tools
post #1 of 17 Old 11-25-2008 Thread Starter
Junior Member
 
Join Date: Oct 2008
Location: Toronto
Posts: 12
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Trusting a "Recent" Survey?

Hi there;
I've been reading that the cost of a survey is usually borne by the buyer, yet I sometimes see ads for used boats claiming recent survey done, and so I wonder why the seller would be in posssesion of the survey? Someone flipping the boat, or, is it common practice in order to reduce the cost of multiple surveys that the prospective buyer offers to split the cost with the seller?. A survey in the possession of a buyer who didn't purchase is pretty much a useless piece of paper, but could be helpful to the seller for the next prospective buyer (provided survey is favourable or repairs have been documented as being completed), or for renewing insurance perhaps?.
Also, if a seller has a survey, how recent should it be to be considered trustworthy by the prospective buyer- for insurance purposes and to save commisioning a new survey?

Thanks (sorry for the muddled wording)
don
campbdon is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 17 Old 11-25-2008
Senior Member
 
Join Date: Aug 2007
Location: NY
Posts: 2,247
Thanks: 1
Thanked 1 Time in 1 Post
Rep Power: 8
 
It all depends. Sometimes people get a survey and arent willing to fix whatever is wrong. But you might be. I just bought a boat where the guy had bought it a year before, fixed everything on the survey and then found out he needed major surgery and so had to sell the boat. I did my own survey anyway but having the old one played a part in getting me to the point where I made an offer.

And as for how recent is recent enough to just accept it, how long does it take to run aground?
sck5 is offline  
Quote Quick Reply Share with Facebook
post #3 of 17 Old 11-25-2008
Glad I found Sailnet
 
Bene505's Avatar
 
Join Date: Jul 2008
Posts: 3,817
Thanks: 14
Thanked 51 Times in 50 Posts
Rep Power: 9
   
I'd do my own survey anyway. You need a surveyor who is working for you.
Bene505 is offline  
Quote Quick Reply Share with Facebook
post #4 of 17 Old 11-25-2008
AEOLUS II
 
WouldaShoulda's Avatar
 
Join Date: Oct 2008
Location: From The Land of Pleasant Living
Posts: 2,906
Thanks: 3
Thanked 12 Times in 12 Posts
Rep Power: 7
 
Many surveyors consider their work intellectual property and non-transferable.

Would I trust it??

Depends.

If it was a lot of boat or a lot of money, NO!!
WouldaShoulda is offline  
Quote Quick Reply Share with Facebook
post #5 of 17 Old 11-25-2008
Senior Member
 
Join Date: Aug 2006
Location: wherever
Posts: 5,283
Thanks: 8
Thanked 17 Times in 16 Posts
Rep Power: 11
     
might be an insurance survey. they are much less detailed than a purchase survey. they verify the boat isn't sinking or about to blow up and is still in the possession of the owner.
i had a survey offered to me on a boat i was looking at. the survey was about useless
insurance surveys don't usually require a haulout so there is no inspection of the hull at all
purchase survey costs about 3 or 4 times what an insurance survey would IIRC
xort is offline  
Quote Quick Reply Share with Facebook
post #6 of 17 Old 11-25-2008
On the hard
 
CharlieCobra's Avatar
 
Join Date: May 2006
Location: Bellingham, WA.
Posts: 3,503
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 11
   
Not on an older boat, especially a woodie. Insurance companies want a complete and thorough survey prior to binding.
CharlieCobra is offline  
Quote Quick Reply Share with Facebook
post #7 of 17 Old 11-25-2008
Senior Member
 
Join Date: Aug 2006
Location: wherever
Posts: 5,283
Thanks: 8
Thanked 17 Times in 16 Posts
Rep Power: 11
     
Charlie
I should have been more specific. Insurance companies often ask for this cheapo survey every 5 years...after the full pre-purchase survey initially.

wood boats are another whole kettle of fish for sure
xort is offline  
Quote Quick Reply Share with Facebook
post #8 of 17 Old 11-25-2008
moderate?
 
camaraderie's Avatar
 
Join Date: May 2002
Location: East Coast
Posts: 13,877
Thanks: 0
Thanked 3 Times in 3 Posts
Rep Power: 16
     
Xort is exactly right on that. Also brokers have been known to work with surveyors to give a good survey to make the boat more saleable. I was once asked by my broker to have his surveyor do this.
Get your own surveyor always.

No longer posting. Reach me by PM!
camaraderie is offline  
Quote Quick Reply Share with Facebook
post #9 of 17 Old 11-25-2008
Senior Member
 
AdamLein's Avatar
 
Join Date: Nov 2007
Location: SF Bay area
Posts: 1,917
Thanks: 5
Thanked 6 Times in 5 Posts
Rep Power: 8
 
When I sell my current boat, I'll be happy to let prospective buyers see the most recent survey along with all other documentation that shows that I was a conscientious owner. But I would never encourage a buyer not to get his own survey; that's the mark of an untrustworthy seller.
AdamLein is offline  
Quote Quick Reply Share with Facebook
post #10 of 17 Old 11-25-2008
Senior Member
 
GreatWhite's Avatar
 
Join Date: Jan 2007
Posts: 216
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 9
 
The money your own surveyor costs will usually is often recouped in the difference between the final purchase price and the pre-survey offer (unless it is a really good deal.) Additionally the surveyor will give some additional advice on what he believes could be upgrade.
There are some people I have met who had a LOT of experience working on boats who felt they could adequately do their own survey but the "expert" opinion from a third party adds weight to any negotiations.
GreatWhite is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Survey Cost and what to expect Popeye77 Boat Review and Purchase Forum 9 10-13-2008 11:42 PM
Should I Be There During Survey? FritzN Boat Review and Purchase Forum 20 06-04-2007 08:32 AM
Can you sell a survey to the next faithab Boat Review and Purchase Forum 3 12-18-2005 06:08 PM
The Importance of a Pre-Purchase Survey Sue & Larry Buying a Boat Articles 0 10-06-2002 08:00 PM
To Survey or Not to Survey Tom Wood Buying a Boat Articles 0 09-17-2000 08:00 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome