Looking to buy my first boat.
I have a lead on a 1984 Ericson 26. It was a donation by a guy who got too old to sail. I have a (rather superficial) survey from last summer that he had done before the charity would accept the donation. No major issues (in the survey).
While the broker was repositioning the boat, the engine (Yanmar 1GM, 8hp I believe) failed. They say it doesn't get compression. When they tried to raise the mainsail, the halyard snapped. The head sail is trashed. While the survey noted the running rigging
was getting old, it all clearly needs to be replaced. They had to have the boat towed the rest of the way.
I'm trying to determine an offer based on the unknowns of the engine. The broker is a marina, but they seem like they're more interested in selling the boat as-is than doing the work.
I know I'm going to need to get intimately familiar with boat maintenance, but I don't want to start out with a project boat.
The broker said they think they're looking at about a $1500 repair
, but who knows. Maybe looking at a complete rebuild/replacement.
I'm thinking about making a menu of offers: $x price, less what it costs them fix the engine and deliver it my marina (35 NM away- I don't want to be on the water with an unconfirmed engine and no sails - also, the tiller is rotty), and have a diesel mechanic at my marina certify that the engine is in good working order.
Or... $x price, the broker tows the boat to my marina, they repair
the engine and deduct the cost of towing and whatever my marina charges to deal with the engine.
I prefer the second option, because I don't really trust the broker/marina to put their hearts into fixing the engine.
Mainly what I'm looking for from folks here is what value I should place on some of the variables.
What's the likely range of repair
/replacement of the engine (Yanmar 1GM)... having the marina handle every bit of it?
How about replacement of the running rigging
? I'm guessing the halyard snapped at a point that it can't just be rethreaded using the old halyard.
How about the value the broker/marina would place on delivering the boat to my marina (35 NM up the Chesapeake Bay)?
Lastly... I'll want to replace the wooden sole in a few years, and would want to keep it wood. What's involved in that? Can you buy off-the-rack replacements, or is it a major custom job (and expense)?
Thanks for any ideas you may be able to offer!