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The joys of buying a used six figure performance boat.

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Old 07-27-2016 | 11:10 AM
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Originally Posted by Gary P
Is there a reputable rating agency for boat surveyors? I've read/heard of some real horror stories about surveyors, and a few good ones too. Aside from personally knowing one, or someone that's used a good one, how can you choose without getting burned???
I'll just fly Ed Cozzi up for my next survey...I won't have to worry about the quality of the inspection.
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Old 07-27-2016 | 11:27 AM
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Originally Posted by Gary P
Is there a reputable rating agency for boat surveyors? I've read/heard of some real horror stories about surveyors, and a few good ones too. Aside from personally knowing one, or someone that's used a good one, how can you choose without getting burned???
Anytime a surveyor really does his job you likely will have the seller and the broker bad mouthing him down the road. Surveyors need industry leads to get enough work to make a living I believe. Therefore taking your own people seems to be the safest route.

When I sold my last house I hired a surveyor to look it over and make recommendations so that I could get everything in order for a quick sale, which I did, electrical and various cosmetic type items, thought I was good to go.

List the house and find a buyer that loves the house and makes offer at asking price subject to survey. I am thrilled as I was building my own house and money was going to get tight. Then one day she shows up with an electrician, a roofer, a plumber, foundation guy, A/C tech and a pool guy. Electrician, plumber and A/C tech find nothing, pool guy points out the obvious like cracked deck and age of pool equipment. Foundation guy finds minor cracking but says it's normal for age and location as house is level. Roof guy declares that roof only has five years left max even though it was only a 7 year old 30 year roof . Plumber scopes drains and finds root in drain under house. With all these written reports I feel I have no choice but to try and keep this buyer in a down market so I end up putting a new roof on and paying for them to tunnel under the house and replace the forty year old sewer piping that had never given me any trouble. That Lady taught me a lesson I will never forget.

Next time I buy anything of significant value I will be taking my own experts.
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Old 07-27-2016 | 11:35 AM
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Originally Posted by Gary P
Is there a reputable rating agency for boat surveyors? I've read/heard of some real horror stories about surveyors, and a few good ones too. Aside from personally knowing one, or someone that's used a good one, how can you choose without getting burned???
Don't know if you can. Most people use them for far away purchases, so how do you know whos who. Surveyor is much like a home inspector the law and the contract really prevents any recourse on them. I just watched a survey on my boat I sold, guys were nice and thorough, hammered the hull, moisture meter(take that for whats it worth), but end of the day the buyer paid $400 to have somebody flick every switch, and annotate what equipment it had, and run the engine. When they looked at it, I ran the engines, flicked every switch and notified them of 1-2 issues it had(minor). So Unless your buying something that's 100feet long and as a big of a house, I think your better off taking your time and coming every inch.

I learned my lesson as well before to the tune of 5k, something clearly missed by a surveyor, that nobody magically new about, but all it took was me 5mins in the cabin. Needless say no recourse except to get out my wallet. I learned my lesson don't spend the money on a surveyor. I can flick switches, inspect the hull, lift seat cushions etc. And Ill spend the $200 bucks or so for a marine mechanic to come out and compression check and check general mechanicals.

Last edited by soldier4402; 07-27-2016 at 11:39 AM.
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Old 07-27-2016 | 12:10 PM
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Originally Posted by Wobble
Anytime a surveyor really does his job you likely will have the seller and the broker bad mouthing him down the road. Surveyors need industry leads to get enough work to make a living I believe. Therefore taking your own people seems to be the safest route.

When I sold my last house I hired a surveyor to look it over and make recommendations so that I could get everything in order for a quick sale, which I did, electrical and various cosmetic type items, thought I was good to go.

List the house and find a buyer that loves the house and makes offer at asking price subject to survey. I am thrilled as I was building my own house and money was going to get tight. Then one day she shows up with an electrician, a roofer, a plumber, foundation guy, A/C tech and a pool guy. Electrician, plumber and A/C tech find nothing, pool guy points out the obvious like cracked deck and age of pool equipment. Foundation guy finds minor cracking but says it's normal for age and location as house is level. Roof guy declares that roof only has five years left max even though it was only a 7 year old 30 year roof . Plumber scopes drains and finds root in drain under house. With all these written reports I feel I have no choice but to try and keep this buyer in a down market so I end up putting a new roof on and paying for them to tunnel under the house and replace the forty year old sewer piping that had never given me any trouble. That Lady taught me a lesson I will never forget.

Next time I buy anything of significant value I will be taking my own experts.
I have to respond to this since I'm a builder/remodeler and have been asked to look at properties being bought/sold for clients. Each and every person you bring out to the property will address something in their field of expertise, unless the inspector is a licensed technician in that industry and up on the latest/greatest/code changes etc. I think you're giving the inspector the short end of the stick here, he's not going to shove a scope down the drain unless requested or it's included or discussed prior. They address the bigger picture items that you would have had to repair anyway if you brought in a specialist so it's not really wasted money.

Another factor is that if you bring in specialists to look at a home most of them will charge and this will add up quickly, definitely more than a general inspection especially if they have to write up an analysis and put their credibility/business on the line.

What a buyer might ask for is different for each buyer also, they all tend to focus on their specific needs and perceptions. Being that this is generally a buyers market right now they're in control and you'll be dishing out no matter who inspected the property.
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Old 07-27-2016 | 12:51 PM
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Originally Posted by Indy
I have to respond to this since I'm a builder/remodeler and have been asked to look at properties being bought/sold for clients. Each and every person you bring out to the property will address something in their field of expertise, unless the inspector is a licensed technician in that industry and up on the latest/greatest/code changes etc. I think you're giving the inspector the short end of the stick here, he's not going to shove a scope down the drain unless requested or it's included or discussed prior. They address the bigger picture items that you would have had to repair anyway if you brought in a specialist so it's not really wasted money.

Another factor is that if you bring in specialists to look at a home most of them will charge and this will add up quickly, definitely more than a general inspection especially if they have to write up an analysis and put their credibility/business on the line.

What a buyer might ask for is different for each buyer also, they all tend to focus on their specific needs and perceptions. Being that this is generally a buyers market right now they're in control and you'll be dishing out no matter who inspected the property.
Good advice. I think he was more or less speaking to the fact of bringing the right people out to inspect. Also what needs to be repaired is in the eyes of the beholder whether that's an inspector, specialist, buyer or seller. In this guys case to buy a new roof that's 7 years old, or what the inspector says is good for 5 years, Id probably go tell the buyer to pound sand. But then again in a buyers market you'll pay anyway at some point, and if money is on the table you have no choice.

Part of the problem is the general inspector boat or home, its just that. I think to be fair buyers do have or get unrealistic expectation at times. But I also think these inspectors a lot of them promote that you need this inspection and in an off manner almost make it seem like some guarantee which its not. And most inspectors arent going to tare up walls scope drains, tear an engine apart etc, I think most people get that. But in this boats case assuming the OP isn't exaggerating, this was miss on somebodys part.

Personally anymore homes or boats im brining a general contractor or mechanic, nobody tied to the industry. The agents/dealers feed off the surveyor giving them a good report, and the surveyor feeds off the business. So even if its not inappropriate, the relationship ultimately ends up that way, because your not going to cut off the hand that feeds you. I also think they need to open up the law to liability on these inspectors as they are for one overestimating what they can and cant do and are costing people thousands. Start making people liable and taking money you watch the fake inspectors leave, and the ones that are descent might actually do their job a little more.

Last edited by soldier4402; 07-27-2016 at 01:12 PM.
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Old 07-27-2016 | 12:57 PM
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Originally Posted by Indy
I'll just fly Ed Cozzi up for my next survey...I won't have to worry about the quality of the inspection.
Seriosuly
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Old 07-27-2016 | 04:11 PM
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Okay, so paid Terry and got the boat over to Parker Marine to get the charging system worked out since the hour I was out back in May the batteries just drained down and under way the boat volt meters where under 12 the whole time, ended up at 10.5. Threw new batteries in, pulled alternators and both are bad.... Now how weird is that? One had the brushes a silver color and almost fell apart, (new brushes didn't help) and the other had other issues apparently from getting hot or something, so bought two new ones. Had to order so they'll be in tomorrow. Okay, hope this is the last "fix" I post on this thing for awhile!!

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Old 07-27-2016 | 04:55 PM
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Sorry for all your troubles. I hope this is the last issue you have for a long time.
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Old 07-28-2016 | 07:46 AM
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Good luck. My thing with boats has been, regardless of how nice or honest the old owner was any used boat will need work at some point. I always figure take the purchase price and take 10% of that, and that's what it usually takes to get a used boat either up to snuff or upgrades im looking for.
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Old 07-28-2016 | 08:00 AM
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Hope to see it on the water or at the docks at the Shootout!
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