Bummer.
Very few surveyors do mechanical surveys also other than the paint on the engine is good with no rust or corrosion.
If they do a hull / mechanical survey if they can you'll know $$$$
A friend of mine is doing this now with a cruiser. It's not easy to find a good surveyor. Never mind one that can look over a drive and motor. I guess in the future I'd say find a good marina or tech you trust. That's the most important part of a performance boat. Any tard can check transom / stringers and tell you that the 12v outlet plug doesn't work, and there's a wrinkle in the carpet.
Best of luck

Gotcha. How on earth does he (the surveyor) be right there and not tell you about the hour gauge not working before you sign? What a douche! That would have been the first thing I would have wanted to know! I'm assuming there are no ties between the surveyor and the seller??

When I got screwed over by Scott Nagy dds (former board member) on my previous boat, he was in cahoots with the service guy that told me everything on the boat was perfect with only 30 hrs. Both looked me in the eyes and lied their a$$es off. Good luck with your situation.

Yup that's it. Where did you get those pics? That's me and the family

powrboatnation,
I think its a thread you started when you were looking at it,

title of thread is,,,,,,, In contract for fountain

Lol. I forgot I put them up there. Thanks for posting the pics

UPDATE:
Pulled the heads... Not looking good. The valves are only seating around 40%. Blown head gaskets. This explains the milk and lack of power, but there is no cross hatching in cylinders .... 138 hrs huh. Yeah my arrs. Looks like I'm going to have to build me some new motors this winter.

So I got both motors broken down . Looks like I have after market bill Mitchell 540 heads? Why would that be after 138 hrs on a boat. And melted down skirt of one piston. There is no cross hatch in either more to speak of. Looks like there was either one or multiple over heats on the motors because of the powder coat bubbling on the gill manifolds. There are signs of leakage on either the pipes or manifolds. So in essence I have 2) good blocks. I have been around the web looking for drop in power but can not find any 500 hp motors out there like that. I wouldn't even mind spending the money for 525 efi motors. Do any of you know anyone who has GOOD drop in replacement power either 500hp carb or 525 efi?

I bought a 38 lightning back in June, did the servey, test drive, etc. boat wasn't in "mint condition" but it just needed a little TLC. Also the engine hour gauge was off from the computer by 65 hour. I told the guy I as going to pass, he said hit me with an offer. So i Knocked 10k and shipped it home.

My recommendation is Just love and enjoy the boat, it's used. If you dwell over it you'll gain resentment towards the boat. It's a fountain, a little work and it will be everything you wanted. Enjoy

Try Eddie Young at Young Performance or Ron Potter (Potter Performance). If you're looking for a local guy who could rebuild for you, send a PM to "Vinny P"... he's excellent...

Sick Stinger is parting out a 353 Formula with a couple of 500HP carb motors in it. I believe they have about 300 hours on them. Drop in a set of valve springs and go boating. The boat came from NH and it was most likely a Lake Winni boat, so good clean fresh water.