Buying A Boat, Need Some Help - SailNet Community
 
LinkBack Thread Tools
post #1 of 9 Old 10-08-2012 Thread Starter
Junior Member
 
Join Date: Jun 2012
Posts: 11
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Buying A Boat, Need Some Help

I'm going to look at a boat this weekend. If I like it, I will make an offer. However, my offer will be contingent upon a survey. How do I protect myself in terms of the cost of the survey? Do I negotiate a price ahead of time based on the seller's info and have a written contract if the boat checks out? How is this done?
Jimmy-D is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 9 Old 10-08-2012
Just another Moderator
 
Faster's Avatar
 
Join Date: Sep 2005
Location: New Westminster, BC
Posts: 16,521
Thanks: 104
Thanked 309 Times in 299 Posts
Rep Power: 10
     
Re: Buying A Boat, Need Some Help

Typically the cost of the survey is on you.. it's your insurance payment on not making a bad buy. On used boats early every survey will reveal an issue or two that will aid in reducing the negotiated sale price by at least that amount.

And even if it doesn't, better to be out $500-1000 than to have paid $10K or more and have ended up buying someone else's problem(s).

If you're spending serious money then you have to look at the costs of even several surveys as 'part of the process' and the associated costs of making such a major purchase - again, so the purchase is made with as much info as you can get, which always helps in making a good decision.

All of which, of course, presumes a quality survey from a truly good surveyor...

Ron

1984 Fast/Nicholson 345 "FastForward"

".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
Faster is offline  
Quote Quick Reply Share with Facebook
post #3 of 9 Old 10-08-2012
Senior Member
 
blt2ski's Avatar
 
Join Date: May 2005
Posts: 6,862
Thanks: 0
Thanked 26 Times in 25 Posts
Rep Power: 12
   
Re: Buying A Boat, Need Some Help

Surveyor's also typically charge by the foot. So that is how you can figure out what it will cost. IIRC $10 US a foot would be a good budget. Some may also have a minimum, so if you hire some one to look at an 8' pram, they might have 2-4 hrs going to and from the boat, so some cost needs to be taken in for that.

The foot price is probably a good thumb up, armlength away guess on a price. It could vary some depending upon what you need etc.

Marty

She drives me boat,
I drives me dinghy!
blt2ski is offline  
Quote Quick Reply Share with Facebook
post #4 of 9 Old 10-08-2012
Just another Moderator
 
Faster's Avatar
 
Join Date: Sep 2005
Location: New Westminster, BC
Posts: 16,521
Thanks: 104
Thanked 309 Times in 299 Posts
Rep Power: 10
     
Re: Buying A Boat, Need Some Help

Marty, $10/foot would be a pretty good deal methinks.. some locals are approaching $20, we paid $12 in 2004 in Seattle.

It's not a minor expense, that's for sure... but for most it's worthwhile, and in any event if the boat is to be financed or insured a recent survey is usually a requirement.

Ron

1984 Fast/Nicholson 345 "FastForward"

".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
Faster is offline  
Quote Quick Reply Share with Facebook
post #5 of 9 Old 10-08-2012
Senior Member
 
blt2ski's Avatar
 
Join Date: May 2005
Posts: 6,862
Thanks: 0
Thanked 26 Times in 25 Posts
Rep Power: 12
   
Re: Buying A Boat, Need Some Help

hmmmmm, I know of a local that is about $10........ok, so 10-20 depending upon the surveyor. Some IIRC charge a bit more per foot for longer ones, just to cover some of the beam etc too.................The $10, could also be because it was an insurance survey.....so not remember the cost of the initial one, might be a bit more for new vs insurance also.....

Worth the cost any how!

She drives me boat,
I drives me dinghy!
blt2ski is offline  
Quote Quick Reply Share with Facebook
post #6 of 9 Old 10-08-2012
Senior Member
 
paulk's Avatar
 
Join Date: Jun 2000
Location: CT/ Long Island Sound
Posts: 2,603
Thanks: 4
Thanked 26 Times in 25 Posts
Rep Power: 16
 
Re: Buying A Boat, Need Some Help

If you want to make an offer on a boat, generally the broker (or seller) takes a deposit of 10% of the offer, which is made subject to the boat's passing survey. The deposit is refundable in the event that the boat does not pass survey, but the buyer pays for the survey. (You wouldn't want a survey that the seller paid for!) The best thing to do might be to contact a few marinas or yacht yards near where the boat is and ask which surveyors they might recommend. (The broker or seller might have some ideas on that too. If they all name the same guy, he's probably ok. If the seller and broker really push someone other than the one(s) named by the marinas, be forewarned. ) Contact the potential surveyors and ask them what they'd charge. Costs will vary depending upon the type of boat: a small sloop should be less than a large ketch. The material and condition of the boat factor in too. A wooden boat in mediocre condition can take a LONG time to go over. Steel, fiberglass, engines & systems can all affect survey costs, along with the distance the surveyor has to go, and how long he thinks it will take. The depth and detail of his report will be reflected in the cost as well.
In any case, make sure to be present when the surveyor looks over the boat. You're paying for his expertise, and it is an excellent way to learn incredible amounts from him as he points out issues, causes, and effects that you had NO idea of. We had the boat we bought surveyed by two different surveyors, and learned something new from both of them. This, despite my having had more than 30 years of sailing experience, 20 in cruising boats.
paulk is offline  
Quote Quick Reply Share with Facebook
post #7 of 9 Old 10-09-2012
Water Lover
 
Join Date: Aug 2010
Location: New Mexico, USA (Heron, Elephant Butte lakes); Arizona (Lake Pleasant)
Posts: 759
Thanks: 3
Thanked 18 Times in 18 Posts
Rep Power: 5
 
Re: Buying A Boat, Need Some Help

Two approaches I've heard of for reducing the cost of a survey:
(1) learning enough to "pre-survey" boats on your own and eliminate clunkers so you only pay for a survey on a boat that in which you have high confidence;
(2) asking whether the surveyor might consider stopping the survey and reducing the fee if a big deal-breaker surfaces very early during the survey.
rgscpat is offline  
Quote Quick Reply Share with Facebook
post #8 of 9 Old 10-09-2012
TQA
Bombay Explorer 44
 
TQA's Avatar
 
Join Date: Apr 2009
Posts: 2,887
Thanks: 0
Thanked 77 Times in 73 Posts
Rep Power: 7
 
Re: Buying A Boat, Need Some Help

Also worth noting that most surveyors will not climb the mast so you do not get the rigging checked.

The engine check carried out by most surveyors is limited. If in doubt you need a specialist who will organise things like oil analysis and cylinder pressure or rpm drop checks.
TQA is online now  
Quote Quick Reply Share with Facebook
post #9 of 9 Old 10-09-2012
Senior Moment Member
 
SloopJonB's Avatar
 
Join Date: Jun 2011
Location: West Vancouver B.C.
Posts: 11,371
Thanks: 59
Thanked 67 Times in 64 Posts
Rep Power: 5
 
Re: Buying A Boat, Need Some Help

Quote:
Originally Posted by Jimmy-D View Post
I'm going to look at a boat this weekend. If I like it, I will make an offer. However, my offer will be contingent upon a survey. How do I protect myself in terms of the cost of the survey? Do I negotiate a price ahead of time based on the seller's info and have a written contract if the boat checks out? How is this done?
Use the attached link and do a thorough pre-survey yourself. It will reduce the number of times you have to pay someone else.

Boat Inspection Trip Tips

If you are planning on spending a lot of money, say more than $10K, picking up and studying Don Casey's book on inspecting old boats would be a good idea too.

A lot of surveyors are "in name only" and they all cover their a$$es re: "errors & omissions" so being able to narrow the field severely by yourself is good practice.

I, myself, personally intend to continue being outspoken and opinionated, intolerant of all fanatics, fools and ignoramuses, deeply suspicious of all those who have "found the answer" and on my bad days, downright rude.
SloopJonB is online now  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

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
Buying a Boat parksider General Discussion (sailing related) 1 09-09-2009 06:46 PM
Buying a boat - what about selling a boat mikehoyt Boat Review and Purchase Forum 1 09-12-2007 11:42 PM
Buying the Big Boat Jack Northrup Buying a Boat Articles 0 02-15-2004 07:00 PM
Buying My First Boat Sue & Larry Buying a Boat Articles 0 11-15-2001 07:00 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