Working with sellers who refuse a pending survey contract
Just wanted to see what others have done in this situation. A buddy of mine is looking at a GOB in SC and expressed interest in it. The seller refuses to do any sort of contract that protects him while he’s arranging a survey. Basically if someone walks up tomorrow with the right offer, boats sold, even if a surveyor is coming in the afternoon. Purchase price is in the $25k range and I told him an insurance co won’t touch it without a survey. It’s a classic like mine and they’re aren’t a whole bunch of them on the market. He said it’s in really nice shape and basically ready to go. I’ve bought plenty of boats without a PreP survey but then again I can recognize major issues..usually....and understand that going in I might have missed something and have to fix it. There’s always something to fix anyway so I look at it as taking over the projects from the previous owner. Boats use us until we’re spent and broke then move on to another skipper.