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  #11  
Old 10-18-2008
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Surveys? Often Recommended, but how good are they?

Good question, however I have another...

OK, so you pay a Surveyor the $500 or so bucks to check-out a boat. He gives it a decent bill of health. You purchase your dream based on this survey. You then find out later that he missed a major obvious flaw which costs you a buttload of dinero to repair.

What is the boat owners recourse with the Surveyor? What is 'policy' in a case such as this?
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Old 10-18-2008
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Quote:
Originally Posted by RocketScience View Post
Good question, however I have another...

OK, so you pay a Surveyor the $500 or so bucks to check-out a boat. He gives it a decent bill of health. You purchase your dream based on this survey. You then find out later that he missed a major obvious flaw which costs you a buttload of dinero to repair.

What is the boat owners recourse with the Surveyor? What is 'policy' in a case such as this?

Thats, the whole point to a survey. Insurance and the banks require one why? Because if the D+++ thing sinks They want to be able to go back on someone. The owner is not an option. He all ready borrowed money to pay for the thing. I as as new owner would want a survey, They carry insurance if they are wrong. I not willing to sick my neck out that far for a major purchase.
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Old 10-18-2008
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Originally Posted by bubb2 View Post
Thats, the whole point to a survey. Insurance and the banks require one why? Because if the D+++ thing sinks They want to be able to go back on someone...
Of course, but in the case where a purchase loan was/is not required, what is typical policy regarding the Surveyor? Will his (the Surveyor's) insurance cover the cost? Will his insurance do so willingly without threat of a lawsuit? Do they typically reimburse all or part of their original fee?
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Nothing happens any more with out a lawsuit. I know it is sad. but everyone wants to hedge their investment.
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Originally Posted by bubb2 View Post
Nothing happens any more with out a lawsuit. I know it is sad. but everyone wants to hedge their investment.
Unfortunate, but true.

I guess I will be finding out. And I guess I will also be asking any prospective Surveyor my questions from post #13.
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Unfortunate, but true.

I guess I will be finding out. And I guess I will also be asking any prospective Surveyor my questions from post #13.
the best thing you can ask a surveyor is a copy of his current insurance "certificate of insurance" from his errors and omissions carrier.
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Old 10-19-2008
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I suspect that most surveys contain disclaimers that are basically waivers as to the surveyors' responsibilities and liablilities in situations such as that above.

Hence the unfortunate lawsuit course.....
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Typical O&E policies cover only the cost of the survey, not collateral damage.

Lets look at a couple of scenarios..

Couple is looking at a Frogbobber41. Said boat is in decent shape, except I missed where the chrome plated tittlater valve goesinta the whatsit. The fitting springs a leak, and sprays gobs of goo all over the cabin.
You want to be able to sue me to clean up the goo?
Ummmm, are you frickin' nuts?

Lets use that same convoluted objective logic.
And this happens FAR more often.
Consider the Frogbobber41.
Decent shape, except that I see the fitting that goesinta the tittlater valve should be replaced and duly note it in the report.
You purchase said tub.
in 3 weeks, the fitting breaks and goo flies all over the cabin.
Would it be ok if I brought suit against you for being a dumbass and not replacing the fitting? I mean, hey, its only fair, right? Probably patriotic too.

I can understand if its something obvious and major.
Its your boat, you bought it, like it, warts and all, just like your wife. Don't come cryin' to me if she turns out to be nuts.
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Old 10-19-2008
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boat buying, surveying, boat knowledge

Hi Crazy,

Quote:
If someone cannot evaluate a boat he is going to own, he is not ready to own the boat. It's my opinion. Boat construction is not a rocket science. Construction is very simple, most system are rudimentary compare to systems we have in a houses and cars. If you are buying used boat, most likely there is a ton of information on any given models on internet, with all possible flaws shown. There are books and courses.
Wow, I totally I disagree with this statement. I agree that boat owners should become familiar with the equipment on the boat, I don't think it's likely that they will be expert enough to evaluate the condition of a prospective boat owner. I don't think that most potential boat owners can determine if standing rigging is in good condition or worn out, if the rudder and steering gear is OK, if the stuffing box, electrical system, furler, etc. are in good or bad condition. Personally, I want an expert to look at all those things, AND all the things I don't even consider.

Quote:
If you going to buy the boat – take digital camera with you. Shoot every inch of the boat. Especially shoot every corner you actually cannot see – under floors, bilge, under settees, hull to deck joint, etc.
Do not trust your eyes; take as many pictures as you can, bring them home, drool over them one evening or too, take notes… Go there second time and check every point you didn’t like – cracks, rust, bubbles, color mismatch etc…
Now you may need a surveyor, as a second opinion, or may not…
My surveyor didn’t find 70 % flaws I knew already there. I had to hire him to get insurance.
I think this is excellent advice. IMHO, if you STILL like the boat, hire a surveyor to check the things you didn't see, especially if the boat is in the water.

My last comment. I have had two boats surveyed. I didn't get price reductions after either survey. I did have the current owners make some simple repairs. I did learn much about the boats, and I received a list of items to be corrected, some immediately, and others to be done either in the off season or at my leisure.

Good luck,
Barry
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  #20  
Old 10-21-2008
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Originally Posted by cardiacpaul View Post
Typical O&E policies cover only the cost of the survey, not collateral damage....
Fair enough.

I believe my curiosity in this situation is from a culpability standpoint. We as prospective (and sometimes naive) boat owners rely on professional surveys in a decision making process which many times involves substantial financial outlay. If a survey is 'blown' on an obvious defect, costing the boat owner serious financial hardship, it would appear that the boat owner is left holding the bucket.
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