Boat Swamped - Should I walk away from the purchase?

[Pete7]

Originally Posted by regex

but I am not an expert in such things.

Few of us are, that's why we employ a surveyor.

For me this isn't just a boat that got swamped, there has been some serious damage to this one sadly.

Pete

[regex]

Originally Posted by 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.

Hah. Perfect. Well said. That is the question, isn't it? I suppose more existentially, should we write-off a boat anytime it has an issue like this no matter what? Like people, boats deserve a second chance. No? If so, then what criteria do we put around giving them a second chance.

entrusting my life... (and that of my family) is a great question. I will say, this was almost 3 years ago. If she was going to continue to have issues, they would have popped up. The work was done by a Beneteau dealer and they used only Beneteau parts. Basically, rebuilt as designed. Not some shoddy fly-by-night rebuild in someone's garage.

So yea, when do we know to walk away? Could be applied to women as well.

[Kenomac]

Fibergass can be repaired to be as good if not better than new if the craftsman knows what they’re doing. The insurance company won’t underwrite the boat or pay for the repairs if the work done wasn’t overseen by a surveyor overseeing the repairs. Simply talk to the yard manager and ask to see the report to put your mind at ease.

This does not sound to me like a “walk away from it” type situation, seems more like an opportunity to purchase a boat you couldn’t afford otherwise.

[a64pilot]

It’s not a glass issue, I be there was little damage there.
What it is, is an issue of salt water intrusion, and possible future damage there.
Boatman brought up structural wood, which is a very good point, but also wiring that has been salt water wetted, the salt water will intrude up the wire, under the insulation rotting it out.
I believe though that a good surveyor can find any on going damage, if wood was wetted, it ought to still spike on moisture content, wiring can be inspected etc.

Bottom line to me is price, I believe who suggested another 20% off is spot on, the fact that it was partially submerged does detract from its value.
But it may be a real deal if there are no problems. The longer it has been since it was swamped, the less it matters in my opinion, so it may actually recover some value if you own it for years and there are no problems

[Tetepare]

Swamped is a big wave going down an open companionway. Sunk is water coming from underneath, maybe permeating bulkheads, stopping the engine, and immersing wiring in salt water.

[daletournier]

Thanks Phil, I'll check it out.

[mglonnro]

Originally Posted by regex

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.

I don't have a positive story.

My simple comment is that I don't like a reality where no matter the amount and quality of repairs, and no matter how perfect the condition of the boat actually is, it's just "doomed" anyway.

Won't a good surveyor be able to give a good and substantial opinion regarding this? (Asking honestly!)

I think falling for a boat shouldn't be underestimated. Maybe you're written in her destiny

[JasonS]

The easiest answer is always "Run Away" and what we hear so often when asking for advice like this.

There are so many components to the decision and story though. Recognize there is diminished value - you will have the same issue when you go to sell the boat. Is 30% below enough? Maybe or maybe not...

How long are you going to keep the boat? If this is your "forever" boat, then maybe a big discount with all new electronics is ok.

Are you willing to invest in the survey? You might want to ask the seller if he has had a survey post-incident and will he share with you. This can at least be a starting point. If not, maybe the seller will split the cost of the survey with you. If you buy the boat great and if not, he has something to share with other prospective buyers - it will save him time in the long run.

Also - ensure you have a great surveyor who will go the extra mile in checking out this boat. Additionally, hire a certified diesel mechanic to check the engine, compression test, etc. That's one of your big $$ items that a regular surveyor is unlikely to be an expert at.

Are you able and willing to deal with the unexpected? Likely that some things will be missed (they almost always are by the way no matter what boat you get), so budget some extra dollars for those - maybe 10-20% of value of boat during first year.

Took us 4 years to find the "perfect" boat for us once we narrowed down and knew our budget range, and yes, of course there were things that we had to fix that we didn't know about or turned out to be something more or different than what surveyor thought, but they were all addressable and taken care of. And now, 5+ years later we continue to love the boat and things that were great then are now 5 years older and are being "refit". It's a constant labor of love.

Do your research, understand the implications, look at alternatives, and then make a good informed decision.

Good luck - make sure to post what you ultimately purchase and the outcome!

[robwilk37]

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?

+1. things CAN be fixed, some times better than new. the yards got a good rep and your eyes are open. id spring for the survey (get someone from out of town with no possible connection to either broker) and really pick the nits. and id definitely go back to the seller with a lower offer though, you gotta make 'em pay for the BS disclosure.

[anacapaisland42]

Don't walk.......RUN.....even if free

Bill

[KP44]

Originally Posted by regex

Hello there folks.

Needless to say, my first response in learning this info was "Oh, F****. This could be a showstopper"

OK. So. What say you salty-sailors & cruisers? Would you walk? Would you pay for the survey/haul-out etc?

Has anyone bought a boat (or had a run aground event) that had this kind of issue and did the MDR boatyard work on it? Were you satisfied with the work?

It sounds like this boat was repaired and rebuilt after the calamity. And it has been a few years. The wiring and systems were all replaced by a very professional crew.

I'll bet many of us have bought a boat with similar history and we don't know it. My boat spent 6 years in Hawaii and 6 years in Seattle before we bought it. I found a soft iron fitting used on one of the seacocks (missed by the surveyor) and battery cable fittings that were poorly soldered and fell apart in my hands when I replaced the batteries. But, all in all, a very sound, well-founded vessel.

I would not call this a show-stopper. Look over the boat with your surveyor. Don't trust the surveyor to tell you everything. Be there with the surveyor and look at the boat and systems with his expert guidance.

[KP44]

Another thing to remember - A boat is never an investment.
It is normal to purchase for $200,000, install $100,000 in new equipmet and upgrades over a few years, and be happy to sell for $150,000.

[Matt Johnson]

I'd suggest you get a surveyor that knows and uses a FLIR thermal camera. It's one of the best ways I've seen to detect a bonding issue where the grid liner separated from the hull. If there was keel delamination around the hull from this collision, a failure of the hull liner wouldn't be out of the question.

Was a surveyor involved with the repair? Did the yard contract out the repairs or do they do all the work in house?

Matt

[Capt Y Knot]

Yes, walk away. I understand all the repairs that were done. "All new wiring"? How can you tell?

The surveyor will only report things that can be seen, they don't tear the boat apart to look at all the wiring, connections, corrosion, etc.

How many offers have been made on this boat? That may tell you something.

Good Luck

[captlloyd]

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?

X2. If the surveyor says it’s OK, buy the damn thing and quit worrying.