Join Date: May 2002
Thanked 56 Times in 54 Posts
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cracked skeg T37
If you''re selling a boat that needs a significant repair, the law puts you in a dilemma. If you repair the boat, you are, in effect, concealing the defect from the buyer. If the seller buys the boat and the repair fails, the seller will be on the losing end of a lawsuit. The safer course for the seller is to not make the repair, so that the prospective buyer can see the defect. The prospective buyer can then consult his own experts for their advice and satisfy himself as to whether a satisfactory repair can be made.
If you see a boat for sale that obviously needs a repair, it at least tells you that you are probably dealing with a seller or broker who is honest enough to not conceal a known defect. If your experts tell you that a satisfactory repair can be made, you might decide to buy it and repair it. But, if you buy a boat knowing that it has a particular defect, then you have no complaint against the seller if the repair fails.
If you rely on your own knowledge and instincts in that situation, it would probably be a bad gamble. If your expert advice is sound, you might end up with a bargain. Do you feel lucky?