Post Survey Question

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millsan1

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Feb 9, 2007
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25166
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I am buying my first big boat. Of course I am getting a full survey, engines, hull, everything from stem to stern.

If the survey turns up any issues, what is the normal procedure with the broker?

What I mean is, I assumed that any issues that come up would become a punch list, and either the seller fixes them, or there is a discount to be negotiated for hte buyer to fix.

In speaking with the broaker, he seemed to indicate that I would take posession of the boat, then have the repairs done by the dealer under waranty afterwards (the boat si 6 months old). I don't see myself going for that. I am a big believer in getting everything done before sale is comleted. Am I right or wrong on this one?

Again, this all depends on IF the survey finds anything.
 
I think that you are right in this particular case. Whatever warranty issues arise after survey are really between the current owner and the dealer and will or should have nothing to do with you and should be so stipulated in your written agreement.

In my opinion, you should be able to be free to offer and stipulate whatever suits you, not whatever suits the broker. What suits you would include the amount you are willing to pay, and the terms and conditions under which you are willing to complete the purchase.

After the surveys, whether the seller agrees to negotiate further may depend on such factors of the agreement as the purchase price and whether or not the survey items are considered to be "essential" items of repair.

Each deal is different, though, and if you still want this boat after surveys, then you'll know what to do when the time comes.
 
It would be in your best interest to have all work completed before the sale.
Also, check the manufacturers warranty, and see if there are any exclusions for second owners. Make sure YOU have a warranty also. Sometimes there is a fee to transfer a warranty, especially if extra coverage was purchased. Good luck with your new boat.
 
You only have the power of the deal before you close. I would have all recommendations addressed before the deal is done. You only have one shot, Take advantage of it.

Let us know how it all turns out and thanks for posting.
 
I agree with all of the above. You are the buyer, you call the shots.
 
I would make a big deal out of everything, drag your feet; have estimates done, then negociate a large discount. By solving the issues yourself with the help of qualified people, you'll get control of the issues, save money and time... and get to know the particulars of your new boat. My view is the seller will not go the extra effort to make punch list 110% right. Good luck.
 
Get it done BEFORE you take possession of the boat, once it's yours, it will be a lot harder to get them to fix it.
 
I agree....... before you close....your in the drivers seat. After you close.... your in the trunk.
 
yep... issues shoudl be resolved to YOUR satisfaction before closing or an adustement on the price needs to be negotiated.

if the boat is under warranty and if it is fully transferable it is a big plus but you want the any issue to solved before closing.

inspect as much as possible yourself and do a short sea trial before survey to make sure everything is running smoothly before spending $ on a survey. you dont' want to have the surveyor on board to find out an engine overheats once at cruise speed.
 
I suspect the Broker knows something that he is hoping you don't. I bet he is hoping to pass a major problem on to you and after you close the deal, you will have no recourse. Get it all fixed before you accept the boat or walk away......
 
Yeah, it is only a year old, and does have a transferrable warranty, but I see that most agree to have it done before the sale, which is what I intended. Thanks for the input.
 
I respectfully disagree with most of the above. Get the survey and then qualified estimates for the work that needs to be done. Add 10% to the estimate and negotiate that off the agreed price at a minimum as a discount. The seller has incentive to make any repairs quick and cheap. You, on the other hand, want the work done right and will see that is what happens because you will be in control.
 
Mike-

thats a good point and one I'd normally agree with but, given that the boat is still under warranty, I'd want the current owner to have any issues addressed by the dealer under the warranty. We've all heard the horror stories about owner - dealer/warranty issues. I think thats one headache that can be avoided from the buyers position of power. Once you own the vessel, you own the problems and your leverage is gone.
 
J... I overlooked the warrenty part. Yep, I agree now..... doesn't that make you all feel better? LOL
 
I wouldn't give any weight to the warranty factor at all. Ignore it. As far as you're concerned, there is a problem with the boat and this is the estimate to fix it. You don't really know about the warranty anyway. If the seller has a warranty, that's between him and the warranty company (whoever that is). If he can get it done at no cost under his warranty, great. Otherwise negotiate at your estimate - not the warranty cost. And, as for getting it fixed under warranty, what says it gets done better under warranty than otherwise. Not really. The same shop does it or not. Again, they'll take the warranty payment and do it for a customer who will take the boat and leave (that's you).

Before all this survey stuff, there will be a contract which can say something about how problems will be handled. Put it in there before you pay for a survey.
 
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