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Heller Gregory 06-02-2016 11:04 PM

What did I do wrong?
I thought I'd be sailing on my new Beneteau 381 this weekend w/ friends - instead the deal totally fell through & the way I found out was by seeing on the website the "sale pending" was off & it was back on the market.

I'm not quite sure what even happened? I offered 10% less than asking and they countered @ 5%. OK, NBD, it looked in good shape. I got a surveyor to check it out & for some reason we were late to the haul out so we were stuck for hours at the boatyard. He was only there for a portion of the sea trial, where we did a few tacks with the moldy jib. Wasn't sure why we didn't pull the main out until we dropped the surveyor off. I could not get the main out of the furling main system. The broker did, after a struggle, and pulled out a ripped 15 year old main.

The surveyor value came in at a few thousand less than my original offer & I was told they would fix the refrigeration, toilet, and the furling system & patch up the main. I started pricing things out, since everything is still original on the boat & there were no upgrades I had to replace the rusty, coated lifelines immediately & found out 15 years for a furling main is above and beyond the lifespan. I called around and got some estimates for what I knew I needed to replace that the sellers were unwilling to (lifelines & main, I was just going to clean the moldy jib).

With my info, I gave them my offer of going back to my original price ($3k over the survey value), they would take care of the fridge, toilet & furling & I would deal w/ the rest. That's when I got no answer & it went back on the market.

I checked what this year & model of boat are selling/asking for, around $85k. The surveyor value was $95k & my offer was $98k.

So I guess my question is, what the hell happened??

Rocky Mountain Breeze 06-02-2016 11:47 PM

Re: What did I do wrong?
You got lucky????

olson34 06-02-2016 11:58 PM

Re: What did I do wrong?

Originally Posted by Rocky Mountain Breeze (Post 3517938)
You got lucky????

Also, it sounds like you did not have their signature on an accepted offer, "subject to survey". I do not see how the broker could remove it from the selling process while the sale is progressing.

So are you out the $$ cost of the haul out and survey?


Stumble 06-03-2016 12:10 AM

Re: What did I do wrong?
Honestly it sounds like you dodged a bullet. That's a lot of defered maintenance and overlooked systems. So I would have guessed anything that was working was running on borrowed time.

Heller Gregory 06-03-2016 12:14 AM

Re: What did I do wrong?
They did sign the "subject to survey." They just didn't agree to my price after it was valued for $10k less than the 5% off deal. I never found that out though until after I saw it on the website.

Yeah, I'm out the $1,000 for the survey & haul.

The worst part of this is that I sent a note to the Prez of the brokerage saying how unprofessional that was that I wasn't even told and she never replied either. I would think she'd be mortified about that, they must do business like that from the top down?

I just posted on here because I wasn't sure if I inadvertently did something in the process that screwed things up. I wasn't going to pay $10k more than what the survey price said, I said I'd pay $3k more.

IDK, this boat buying business is not for me. I'm in a club now, I'm BBC certified. I'm just bummed because I had everything set up w/ the dock, the loan, estimates for the sail & lifelines. I was totally ready to go :(

PaulinVictoria 06-03-2016 01:35 AM

Re: What did I do wrong?

JimsCAL 06-03-2016 08:59 AM

Re: What did I do wrong?
It doesn't sound like you did anything wrong. You just ran into an unreasonable boat owner. But the brokerage should have contacted you. Usually they will do almost anything to keep a deal on track.

PaThomas123 06-03-2016 09:10 AM

Re: What did I do wrong?
at that price point if your only out about 1% of the value and your time I think you like the others have said got lucky you will have spent far more that the $1000 on the hidden stuff the the surveyor missed by leaving early? or whatever I am of the opinion that in sailing there is no set timetable
and he should understand that. You might have had to pay more for his time but the job should be completed.

denverd0n 06-03-2016 09:40 AM

Re: What did I do wrong?
You can look at it as you're out $1,000. Or you can look at it as you avoided spending tens of thousands more than you should have. I would look at it in the latter way.

Maybe you are right, and boat buying is not for you. It certainly is not for everyone. But this is how it works. In many ways it is not unlike buying a house. I once was all set to buy a house. We negotiated a price. We had financing arranged. We scheduled an inspection. That's when we found out there was a mold problem (which the seller claimed he didn't know about, but I don't believe that). The seller would not come down on the price enough to make it worth it, so we walked away. We were out a lot of time and money. It was frustrating. Not anywhere NEAR as frustrating, though, as buying the house and then paying thousands upon thousands more to fix the mold problems.

As others said, you got lucky. You dodged a bullet. You didn't do anything wrong. This is just the way it goes sometimes. That is why you always make a purchase like this "subject to survey and sea trial." In this case your survey and sea trial turned out to be well worth the time and money. You saved far more than it would have cost if you had bought the boat without finding out these things. You did good.

Good luck in the future, whether you decide to go forward with buying a boat or not.

Oh yeah... One other thing (well, two, actually). I would try to avoid ever dealing with that surveyor, or that broker, again.

Barquito 06-03-2016 10:16 AM

Re: What did I do wrong?
If you are dead-set on that boat, the owner realize s/he is overpriced with all the things that need to be done. It may take the rest of the summer, however. There are lots of great boats out there, keep looking. BTW, it could save money to do just the on-land survey before committing to the sea trial.

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