Boat Swamped - Should I walk away from the purchase?

[JimsCAL]

I guess I am on the other side and believe if you like the boat and the price is right, it's worth going forward.

I'll tell a story why. Many years ago a friend had his 39 foot Freedom broken into on its mooring. Thieves stole stuff including pulling the speed transducer, sinking the boat. Bottom line, the boat was repaired extensively like was described above. He is still sailing that Freedom all these years later.

[regex]

Originally Posted by JimsCAL

I guess I am on the other side and believe if you like the boat and the price is right, it's worth going forward.

I'll tell a story why. Many years ago a friend had his 39 foot Freedom broken into on its mooring. Thieves stole stuff including pulling the speed transducer, sinking the boat. Bottom line, the boat was repaired extensively like was described above. He is still sailing that Freedom all these years later.

Thanks Jim, I was hoping to find at least one person who had a positive story. Good to hear about your friends Freedom. More to think about, but thanks again for adding some positivity to the thread.

[a64pilot]

I was / am an aircraft mechanic among other things.
People have asked my advice for years buying aircraft.
What I tell them is what is in the book and documented, don’t worry so much about, odds are it was well done, worry about what is not in the books, that takes a good inspection to find.

However any aircraft with “damage history” whether its was correctly repaired or not is worth less than one without damage history, even though a correctly accomplished repair is as good as new. Therefore an aircraft with damage history can be a good buy, just be careful that and ensure the repair was correctly done.


So if you still want the boat, be sure to hire an extremely competent, through surveyor and inspect for hidden damage, my concern would be what Boatman brought up. Salt water soaked wood structures that will continue to decay.

I know of two Island Packets that were sunk and raised and salvaged that apparently are still fine. One I saw in the factory in Largo being refit there.
The residual value of a newer or more expensive boat makes salvage reasonable

[boatman61]

Originally Posted by regex

Very practical advice. However, to do that it means I have to spend almost $2k (which of course I can't get back) and do the survey. Trying to figure out if that is even worth my time. As I read others comments here, I am starting to lean against.

If your not convinced enough to spend on the survey then walk away..
If you decide to go forwards be with the surveyor for the survey with a list of your concerns and make sure he checks them.. do not take things on trust.
Then reopen negotiations with the results if problems are found.

[lovinlifebda]

Regex, I would go back to your post #8 where you say the boats history would bug you forever. That alone would make me walk away, whatever the true condition of the boat. It could never have any future faults that you could attribute to the accident but every day you would wonder. You want a boat that makes you smile every day.

[Kenomac]

If the work was done properly, there’s no reason to not buy the boat, especially if you’re now buying into many new components and getting a good price. I don’t understand why so many would recomend you “walk away” from what could be a very good deal. If you were buying a house, you probably wouldn’t walk away from the deal if the house needed some repairs following a leaky roof problem that was taken care of by an insurance company and reputable contractor, so why would a boat be any different?

[pcmm]

Originally Posted by regex

It wasn't sunk, it was swamped. The boat never completely sunk or submerged. Both the selling and buying agent disclosed it, that's why I posted this. They even gave me the entire invoice to review prior to moving forward. I can get every penny I put down as a deposit back if I want to.

No it was partially sunk. Swamping occurs when wave action causes water to enter the boat. a swamped boat does not incur structural damage that causes the water ingress.

[regex]

Originally Posted by pcmm

No it was partially sunk. Swamping occurs when wave action causes water to enter the boat. a swamped boat does not incur structural damage that causes the water ingress.

Heh, as sailors we love out semantics. I quote BoatUS definition: "A capsize is defined as a boat rolling over onto its side or completely over; swamping typically means that a boat fills with water (often from capsizing) but remains floating. So to simplify, we'll use the term capsize from here on."

Fair point though, maybe we need a new term for a boat that had a structural leak but did not sink.

"Partially sunk" is too vague. Anyway... I digress.

[regex]

Originally Posted by Kenomac

If the work was done properly, there’s no reason to not buy the boat, especially if you’re now buying into many new components and getting a good price. I don’t understand why so many would recomend you “walk away” from what could be a very good deal. If you were buying a house, you probably wouldn’t walk away from the deal if the house needed some repairs following a leaky roof problem that was taken care of by an insurance company and reputable contractor, so why would a boat be any different?

Kenomac,

All very good points. The key for me for which I still dont have an answer is how long the boat was in that condition. I am hoping to get the owner on the phone today and just have a candid conversation. The invoice appears to have done the work very thoroughly and completely, but I am not an expert in such things.

[regex]

Originally Posted by lovinlifebda

Regex, I would go back to your post #8 where you say the boats history would bug you forever. That alone would make me walk away, whatever the true condition of the boat. It could never have any future faults that you could attribute to the accident but every day you would wonder. You want a boat that makes you smile every day.

True, but I just walked through the invoice and started processing this information today. That might have been an initial response. The boat makes me smile. She's a beauty and as we all know there are always issues that pop up, I just don't want to worry constantly. Good advice, thanks.

[weavis]

I have found 3 things as a man that if red flags are present dont proceed...

Women you are considering marrying, cars you are considering buying and boats you are considering entrusting your life to.

Women will have their own similar criteria...

Nearly anything can be made workable.... its just whether its worth it or not.

That choice is completely up to you.

[SVTatia]

Originally Posted by regex

True, but I just walked through the invoice and started processing this information today. That might have been an initial response. The boat makes me smile. She's a beauty and as we all know there are always issues that pop up, I just don't want to worry constantly. Good advice, thanks.

The flip side is that later you could be kicking yourself for not buying this boat...

Looks like the issue was handled professionally and the repairs were done properly. Spend the money on the survey, make sure the surveyor is reputable and working for you.

Now, additionally to what Boatman said, the other important thing is to verify the quality of the repair below the water line as pointed out above - talk to the shop manager who supervised or did the work to understand how it was carried out. This is critical, everything else that was done were replacements:

"- Cut out a delamination section next to keel joint and laid new fiberglass
- Repaired rudder tube & rudder"

Good luck with the decision.

[asistephen]

Amm 🤔. Me I would ask yourself if you got another say 20% off the price where would you be on this ? My opinion is it sounds a good boat with all that New wiring and equipment. However 30% cheaper is not enough! Tell him since the new information has been made available and although you know he thinks it’s a good deal it’s n order to feel you have allowed for the hit on any future resale value problems you will have it’s got to be a lot lower make him a silly offer and see where his at. Give him a month and yourself a month to think on it. If it’s meant to be I will be. But remember a faint heart never won a fair lady .

[leboyd]

How long has the boat been on the market?

I would be concerned with the possible damage, but I wouldn't write the boat off just yet.

I'd spend at least another month or two looking at other options. If that boat is still for sale after you've looked at a number of other boats and it still "calls you", then I'd hire a good surveyor.

If you buy the "right" boat for you, you'll own it for five or more years. If it's the "wrong" boat, you'll take a loss trying to sell it in two years. Since, you want the "right" one the first time, take your time on this one.

30% less just may not be worth it. Taking your time on this one will help you decide.

[SVTatia]

Originally Posted by asistephen

Amm 🤔. Me I would ask yourself if you got another say 20% off the price where would you be on this ? My opinion is it sounds a good boat with all that New wiring and equipment. However 30% cheaper is not enough! Tell him since the new information has been made available and although you know he thinks it’s a good deal it’s n order to feel you have allowed for the hit on any future resale value problems you will have it’s got to be a lot lower make him a silly offer and see where his at. Give him a month and yourself a month to think on it. If it’s meant to be I will be. But remember a faint heart never won a fair lady .

I don't think it is a matter of negotiation, at least I didn;t get that impression from the OP.

I respectively disagree with the emphasis on discounts/lower prices because this will do nothing to ease the worries or help the piece of mind of the future owner. I mean, even if the boat sells for a very low price, would that make it more seaworthy or make you more comfortable?

In my opinion, to fully understand the current state and how the repairs were done is the important factor - only once you are comfortable with this you should proceed.