Jim,
If you proceed, here's what will probably be the drill.
- You make an offer based on what you know about the boat and what the broker
has disclosed. They counter-offer. You dicker and agree on a price.
- If it's seaworthy, you seatrial the boat. If it's wet, and it's on the hard
drying out, you might wind up having to skip this step. Do so only if you're
comfortable with that.
- You get the boat hauled (if it's not already on the hard) and have the
meanest, toughest sumbitch of a surveyor you can find to dig deep and find out
what's really wrong with the boat.
Note: You probably shouldn't give the survey report to the broker/dealer. They
don't deserve it. They didn't show you theirs, so you shouldn't show them
yours. It's not a question of nice or not nice. The survey report is your
property. You paid a couple hundred bucks for this information. The broker
didn't. Now you're going to give it away? They'll probably make you feel
ridiculous for not showing it, but that's just a broker's tactic. When you
give the broker the survey, you're helping them to market the boat to a buyer
who is not you.
- You itemize the problems that the surveyor turned up and put a price tag on
them. Take the price tag to the broker and tell them how much of that you
want. Remember that a surveyor will only tell you what he or she can see, so
when it's for something hidden (like hull insulation) don't be shy about
throwing in some fudge factor for the unkown. When they say "Aw, c'mon, let us
see the survey," snip out the negotiating point(s) and present them separately,
and then only if you feel like it.
Note: If you itemize for the moisture in your survey concession and they
respond with "We disclosed that. You knew about that. It's not a concession
candidate," you respond with "Now I know the extent, and that wasn't
disclosed."
- The broker will minimize whatever you've found and look to lower your
concession demand. Give in or stand your ground depending on how desperately
you want the boat, how bad you think the repairs are, how desperately you think
the owner wants the boat off his hands, and how many people are (or are not)
standing in line to take your place.
You're almost certainly going to have to have a survey done anyway to get
financing and/or insurance. Use the survey process to your advantage.
You should not accept their survey results in any form, and most definitely not
as presented (verbal re-reporting).
You should definitely NOT let them proceed with the repair. It's in their
interest to do the absolute minimum to get it out the door. It's in your
interest to do it right. These two impulses are generally in conflict.
BTW, if the boat's on the hard, find out for how long, and make sure the
surveyor knows, as it will potentially affect the moisture content. The yard
should be able to tell you how long its been there.
Doug Hoople
M/V Bomar
1963 Stephens Bros. 50 FDMY
Sausalito, CA
Jim,
If you proceed, here's what will probably be the drill.
1) You make an offer based on what you know about the boat and what the broker
has disclosed. They counter-offer. You dicker and agree on a price.
2) If it's seaworthy, you seatrial the boat. If it's wet, and it's on the hard
drying out, you might wind up having to skip this step. Do so only if you're
comfortable with that.
3) You get the boat hauled (if it's not already on the hard) and have the
meanest, toughest sumbitch of a surveyor you can find to dig deep and find out
what's really wrong with the boat.
Note: You probably shouldn't give the survey report to the broker/dealer. They
don't deserve it. They didn't show you theirs, so you shouldn't show them
yours. It's not a question of nice or not nice. The survey report is your
property. You paid a couple hundred bucks for this information. The broker
didn't. Now you're going to give it away? They'll probably make you feel
ridiculous for not showing it, but that's just a broker's tactic. When you
give the broker the survey, you're helping them to market the boat to a buyer
who is not you.
5) You itemize the problems that the surveyor turned up and put a price tag on
them. Take the price tag to the broker and tell them how much of that you
want. Remember that a surveyor will only tell you what he or she can see, so
when it's for something hidden (like hull insulation) don't be shy about
throwing in some fudge factor for the unkown. When they say "Aw, c'mon, let us
see the survey," snip out the negotiating point(s) and present them separately,
and then only if you feel like it.
Note: If you itemize for the moisture in your survey concession and they
respond with "We disclosed that. You knew about that. It's not a concession
candidate," you respond with "Now I know the extent, and that wasn't
disclosed."
6) The broker will minimize whatever you've found and look to lower your
concession demand. Give in or stand your ground depending on how desperately
you want the boat, how bad you think the repairs are, how desperately you think
the owner wants the boat off his hands, and how many people are (or are not)
standing in line to take your place.
You're almost certainly going to have to have a survey done anyway to get
financing and/or insurance. Use the survey process to your advantage.
You should not accept their survey results in any form, and most definitely not
as presented (verbal re-reporting).
You should definitely NOT let them proceed with the repair. It's in their
interest to do the absolute minimum to get it out the door. It's in your
interest to do it right. These two impulses are generally in conflict.
BTW, if the boat's on the hard, find out for how long, and make sure the
surveyor knows, as it will potentially affect the moisture content. The yard
should be able to tell you how long its been there.
Doug Hoople
M/V Bomar
1963 Stephens Bros. 50 FDMY
Sausalito, CA