Skip the survey?

[Lou_tribal]

Also keep in mind that the insurance company will want most or all of the write up's found on the survey to be corrected. It has been nine months since our purchase survey and I just received a form to sign that all of the problems have been taken care of. Now if something happens and it is the fault of one of the problems found on the survey, they are off the hook.

Same here, it is the second year I get insurance for the boat and at the same company, and this year they sent me a form to sign to certify I fixed what was found... so I bought some flares lol

L.

 

[AusCan]

I'd disagree with most of the posts here. If I wasn't planning on getting insurance (other than public liability), and had a the skill base to assess the boat myself or with associates, I wouldn't bother with a survey on a low cost boat, especially if there was a high likelihood of big problems and the sale not going ahead.

In a case like this, what is the advantage? Boat surveyors are generally good at what they do, but I know a shipright and a marine mechanic who's opinion I'd respect more than most surveyors.

 

[Group9]

A $20K boat is certain to have issues or it wouldn't be a $20K boat. Your friends may have been around boats for many years but that doesn't mean they are qualified to judge a boat or engine's condition.


Get the survey. It will tell you if you're getting your money's worth or a nightmare.

It takes a lot of years to be able to know that kind of thing. I've been boating since I was biking. On our last purchase, we had a professional survey, but I found a lot of things on my own survey, that the professional missed. And, I thought a couple of the things he found were kind of insignificant in comparison. And, I have tools like a snake camera, for looking in voids and fuel and water tanks, that he didn't even appear to have.

Nobody cares about your life, and the things in it, as much as you do. But, until you have been around long enough to know something about boats and their systems, construction, and mechanics , a survey is pretty much the only way to know what you're getting into.

 

[Seevee]

Wow! So much info so quick. Thanks everyone. I quickly read all the responses. I'll take the time today to read through a little slower and digest more.

Quick points of further clarification.

I would be writing a check for the boat.

I've priced liability insurance only at 500k/1M Seems like a survey is not required but I didn't find that out for sure. I do not plan to purchase full coverage insurance.

The guys I'm bringing with me have spent their entire lives (at 65 and 40 years old) on and around boats and diesel engines. They are the quintessential handymen, fabricator, do it your selfer, problem solver type of guys.

2k was not a quoted price for a survey. It was a word of mouth price from other guys who have had surveys done in a completely different location. Obviously it would have been better of me to get a quote from a couple different LOCAL surveyors. Hindsight. So 2k vs 600 really changes the perspective.

Such a boatload of great comments and perspectives. Thanks a ton everybody. You are a helpful bunch.

I'll keep you posted.

-P

Perry,

I'm in the camp where a survey may not be the best money spent, but it's prudent to have an inspection to determine what is wrong. Yes, there's probably LOTS wrong.

Use your handymen guys to look over the stuff they are good at, they hire someone that knows the stuff that they don't.

You might hire a surveyor only for a basic hull and mechanical inspection, without the report or pictures, if you can find one. The real meat of their inspection is just that. The pictures, boat info and hull numbers, specs, etc., etc. is just fluff you pay for. However, a surveyor is looking for problems (not fixing them like mechanics), and a good one has probably been looking for a long time. Things like fittings, hose and wire routing, condition, wrong parts, bad maintenance, potential problems, etc. He probably won't be able to tell you that the engine is about to blow or the AC is on its last legs.... really expensive stuff.

Do the sea trial with someone that knows operation, limits and what the boat SHOULD do. Record all the parameters. There's a dozen checklists for this out there.

Now, if the all charge you a fair price, you're probably into the inspections close to one BMU (boat monetary unit, a grand).

I'd do it like you plan, get the info to KNOW what the problems and potential problems are, pay cash and not insure the hull. BUT, you need to know if this boat is absolutely worthless, too.

Now, if you find some HUGE thinks, like $10 or 15K worth, the sale will likely not go thru, unless the seller is willing to give it away (and, yes, there are sellers like that). I'm sure you know you'll probably spend several K per year on maintenance, and probably a bunch more on improvements.

But probably worth it. You may actually improve the value of this boat, and make it more livable for you.

For a "project" live aboard, could be a great deal.

 

[PerryH]

Sea trial scheduled for this Friday 8:00am.

Surveyor scheduled for Thursday 7/27 @ 8:00am.

Stoked. Thanks for the insight.

 

[PerryH]

Decided to hold off on this one. Many reasons. Mostly because my bride is not 100% on board with it. Gonna take a couple years and grow our finances and then buy one that doesnt need so much fixing up. Also I think the 40 would be a little cramped for our family of 6.

 

[GregBrannon]

Sorry it didn't work out, but it sounds like it's for good reasons.

 

[dhays]

Decided to hold off on this one. Many reasons.

Nothing wrong with waiting. You hit on 4 of the biggest potential pitfalls with selecting a boat.

Mostly because my bride is not 100% on board with it.

Both of you need to be happy with the selection or it can become a point of friction.

Gonna take a couple years and grow our finances and then buy one that doesnt need so much fixing up.

This is two-fer. Two big issues, that are related, not being realistic on the cost of ownership and not being realistic about the effort involved in fixing up a boat.

Also I think the 40 would be a little cramped for our family of 6.

Super important to find the boat that will meet your needs considering how you will use the boat.

Your ability to recognize those things now will mean that when/if you do make a boat selection it will work out so much better for you and your family.

 

[Rossland]

Decided to hold off on this one. Many reasons. Mostly because my bride is not 100% on board with it. Gonna take a couple years and grow our finances and then buy one that doesnt need so much fixing up. Also I think the 40 would be a little cramped for our family of 6.

Smart decision.

 

[PerryH]

Thanks for the encouragement! The right boat at the right time is out there for sure.

 

[psneeld]

Heck, my 40 is cramped for just me and I tend to be minimalist.

Just tools, parts, clothes, and food fill most of the major storage areas.

Fun stuff is really hard to store.

 

[Jbear]

Everywhere I looked for insurance required a survey no older than a year. All marinas here require insurance...