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post #21 of 40 Old 04-17-2019
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Re: Working with sellers who refuse a pending survey contract

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Originally Posted by Arcb View Post
Yup, safe to say, if someone told me I needed $40k repairs on a $25k boat, I would be looking for a second opinion too.
He wasn't looking for a second opinion. He was looking for a whitewash survey so he could get insurance.

The hysterical laughter you hear as you drive a way in your"new" boat ..... is the seller.
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post #22 of 40 Old 04-17-2019
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Re: Working with sellers who refuse a pending survey contract

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He wasn't looking for a second opinion. He was looking for a whitewash survey so he could get insurance.
That would work too
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post #23 of 40 Old 04-17-2019
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Re: Working with sellers who refuse a pending survey contract

Hey

I don’t see anything that states the ‘owner’ won’t allow a survey. Only that that the owner won’t sign a contract. You can hire a surveyor and get the survey done and the owner could sell the boat before you get to closing. That’s something your friend might be willing to risk or perhaps not. Personally i would tell my surveyor i need to get a go / no go decision by the end of the survey. The complete report can come later but then you can make an offer at the end of the survey


Lastly i see so many comments about insurance and surveys. I have owned 3 boats withl Allstate insurance. I have never been asked for a survey. I even had a boat damaged in a hurricane. Allstate sent me a check and just wanted to see the bill for the repairs

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Mt. Sinai, NY

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post #24 of 40 Old 04-17-2019
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Re: Working with sellers who refuse a pending survey contract

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I’m pretty sure the “owners” dead or about to be. I think it’s being handled by the family. Like I said, details are kind of murky but I think it’s an estate type sale. I hadn’t considered title issues as I haven’t bought anything from an estate but that was some solid information as well. Regardless it didn’t seem to me, based on me being a 3rd party getting second hand info, that the seller, whoever they are, was interested in any type of survey by a pro. That’s why I thought it was strange and posted in the first place. I’ve never heard of that and thought it was pretty standard fare to do in this price range. Investing 25k is significant for regular people I would think and surveys, if anything, give the buyer a warm and fuzzy (or not) that they’re not buying a disaster. I’ve bought boats with no survey but I can usually spot the “hahaha you’ve got to be kidding” kind of issues that cost big $$ to repair. The friend who called me, well, it’s his first boat......I had given him advice on the “right way” to buy an old boat, which is pretty in line with everything everyone else has said. When he called me and said the seller wouldn’t do any kind of contract pending a survey, I was baffled.

Anyway, I asked that he hold off on anything and I’m going down either next weekend or the next. Sometimes things that happen in this world absolutely amaze me...I’m told but those older and wiser that it keeps getting better too lol.
I have seen this before. the seller of an estate does know how it works with boats and is threatened when they hear the word surveyor. I was involved with a seller like that and he just needed to be educated in the ways of buying a boat. he said now he understood why other buyers never can back to buy. they start out with the hard core want it or don't you and a year latter are begging someone to buy it.

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post #25 of 40 Old 04-18-2019 Thread Starter
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Quote:
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Originally Posted by ApparitionS View Post
I’m pretty sure the “owners” dead or about to be. I think it’s being handled by the family. Like I said, details are kind of murky but I think it’s an estate type sale. I hadn’t considered title issues as I haven’t bought anything from an estate but that was some solid information as well. Regardless it didn’t seem to me, based on me being a 3rd party getting second hand info, that the seller, whoever they are, was interested in any type of survey by a pro. That’s why I thought it was strange and posted in the first place. I’ve never heard of that and thought it was pretty standard fare to do in this price range. Investing 25k is significant for regular people I would think and surveys, if anything, give the buyer a warm and fuzzy (or not) that they’re not buying a disaster. I’ve bought boats with no survey but I can usually spot the “hahaha you’ve got to be kidding” kind of issues that cost big $$ to repair. The friend who called me, well, it’s his first boat......I had given him advice on the “right way” to buy an old boat, which is pretty in line with everything everyone else has said. When he called me and said the seller wouldn’t do any kind of contract pending a survey, I was baffled.

Anyway, I asked that he hold off on anything and I’m going down either next weekend or the next. Sometimes things that happen in this world absolutely amaze me...I’m told but those older and wiser that it keeps getting better too lol.
I have seen this before. the seller of an estate does know how it works with boats and is threatened when they hear the word surveyor. I was involved with a seller like that and he just needed to be educated in the ways of buying a boat. he said now he understood why other buyers never can back to buy. they start out with the hard core want it or don't you and a year latter are begging someone to buy it.
That’s kind of what I’m starting to think. I don’t think the family or lawyers; whoever he’s talking to, either understand the process or perhaps don’t want to at this point. That’s reaffirms my original question, which was basically opinions on how to handle a situation like this. I think I got my answers and I appreciate that. Sometimes I find myself involved in these “sticky” situations and it was nice to get some opinions on it.

It’s becoming clear that there’s two valid sides to this- one being the “family” who wants out and has emotion involved. Then there’s my friend who wants the standard “protections” available as a buyer. Interesting how some of this stuff plays out. Personally I don’t think I’d mess with an estate boat but he apparently really likes it. Anyway I’ll look in on this thread but I think I got some advice that I’ll look into further. I’ve got a an attorney down in Georgia I’ve had some beers with so perhaps I’ll give him a call as well; for both estate advice and possibly a referral to the buyer.

Anyway thanks for all the replies.
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post #26 of 40 Old 04-18-2019
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Re: Working with sellers who refuse a pending survey contract

Bottom line....... unless something is a rare collectible (which has irrational value to be first in line), the buyer should never beg. Period. Put the deal you're willing to do on the table. Nothing more. Never make the seller feel like they're doing something wrong, just state what you're willing to do and invite them back, if they change their mind.

If someone else is willing to buy the boat, without a survey, find another boat. It's simple.

Somewhat similar to Jeff's scenario, I typically make it clear to the seller that I'm not looking to negotiate price, with the survey. I will be asking to have anything corrected that has not been disclosed or identified, prior to the sale contract. It will be up to the seller to decide if he wants to fix it or give me the money to fix it. If we discussed the sails being 15 years old, I'm not asking for new sails or a discount for old sails. Then I keep my word.
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post #27 of 40 Old 04-18-2019
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Re: Working with sellers who refuse a pending survey contract

It's kind of interesting ...

When I sold my house recently, I paid to have a home inspection. I then went through the report and fixed any issues that I considered serious, in order to ensure I could get a good price for the house without a lot of hassle.

When I was done with the work and ready to go to market, I provided the survey report with a list of what I'd done to address items on the report. My listing agent made this available to prospective buyers.

The couple who ended up buying the house did their own survey anyway (can't blame them) but there was no renegotiation afterwards, because their inspector didn't find anything additional, and since all the items were disclosed with the sale price, they didn't really have an argument for getting the price down.

I don't see why you couldn't do the same thing with a boat. Quite frankly, the only reason I can see for _not_ doing that is if you think you can hide something. And, of course, that's always the worry, if the seller is being weird about things, what is it they're trying to hide from you?
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post #28 of 40 Old 04-18-2019
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Re: Working with sellers who refuse a pending survey contract

Why does the buyer need a contract at all? He can have a survey done and walk away without having to put any money down in an offer first. It sounds like there's an agreed-upon price already. The buyer would be paying for the survey in any case, if he's interested in the boat. The risk to the buyer is that the boat gets sold to someone else, but that's not much of a risk in the market these days. If someone else does come along and snap the boat up, then the buyer loses his survey money:cost of doing business. He'd be out that money anyway. The seller simply doesn't want to take the boat "off the market" while waiting for the survey. Understandable.
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Re: Working with sellers who refuse a pending survey contract

To be fair, surveys can identify issues that no one was aware of. Neither the seller or buyer noticed, until a pro got aboard. The question is what each party expects to do about it.


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post #30 of 40 Old 04-18-2019
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Re: Working with sellers who refuse a pending survey contract

You can make a good faith offer with a deposit placed in escrow contingent upon a survey. To ease the seller's mind you put in the agreement of sale that you are buying the boat unless a major safety or structural issues are found costing over $x to remedy. In other words you're buying it unless the motor is about to drop through the bilge.

You protect yourself against buying a boat that is not seaworthy and the seller gets the boat sold.

If they're unwilling to do that move on as it may very well be unseaworthy.

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