PrePurchase Survey??

[Irishwolf]

What is a prepurchase survey, are they compulsory? Who pays for them and whom does them? What are they

All questions, as a prospective purchaser of a TH I was unaware that I should be asking, ALL comment and advice welcomed!!!

[bearmcnally]

Hello Irishwolf

Sadly it's the 21st letter of the alphabet

No not compulsory ,but wise if you have no idea what to look for !
Shipwright or somebody who knows the Top Hat

Cheers Bear

[storm petrel]

Most insurance companies (though not all - see recent insurance post) require a pre purchase survey particularly, for old boats. I guess it is insurance for the buyer and is a wise move as Bear suggests especially if the buyer has not had a lot of experience with yachts. Cost varies but I think $20-$25 a foot is about the going rate for a professional survey.

[Irishwolf]

Thanks Guys,

I had to check what the 21st letter was? As is fairly obvious, I have little knowledge in this field but due to injuries from sports, I wish to turn to Sailing as a way to stay in a Sporting arena, to assist me to obtain and maintain a level of normalcy for myself.

Russell

[Shaun]

A survey is optional. If you have absolutely no idea what to look for they are probably a good investment. Although if you know someone who does have a bit of an idea what to look for, that would be a better value option that could filter out an obvious problem, then if still ok, get in a professional to have a thorough check of it.
Do your research though, try to find a surveyor that will actually find serious problems if they exist, rather than just one that just writes an inventory of whats onboard.
I think it also depends of where you are buying it from, with a private sale you will be speaking to the owner & you can get a pretty good idea from them on its condition, my experience is that most yachties are honest people & forthcoming with information on their yachts both good & bad.
If buying from a broker, it is probably easier to organise a survey, if you end up buying the vessel, the owner generally pays for the survey (or most of it), if you dont buy it, you pay for it.
Some regional areas, their simply arent any local surveyors, so that would really esculate the cost, if you decided to get one in to see it.

cheers

[RodM]

One of the commonly identified benefits of a survey is that identifying problems is seen as a way of negotioating price. Less of an issue in a $15K boat than a $150K boat.

Insurance requirements will vary. For an unknown boat some insurers require an out of water survey. Some insurers will accept an in water survey, or for an existing owner, somertimes no survey. If your boats on a swing mooring insurance is less of a demand. In a marina they may require 5-10 milliuon publiuc liability insurance.

Instead of a later nasty shock, contact a few insurers and find out from the horses mouth what's required.

If an out of water survey is required, its an opportunity to sand down the hull, get to know the condition of through hull fittings, anodes etc, and antifoul the hull. Oh, and kiss goodbye to $3K (survey included).

[Irishwolf]

Thanks Rod,

The 3k sounds good for a hull and antifowling check. Wonder what a repaint or touchup would add to cost?

[Dolphin]

Russell,
here is a link to a previous post re osmosis concerning my boat Felicite.
viewtopic.php?f=6&t=628
That looks pretty bad and when you mention osmosis in fibre glass hulls people start looking funny. Don't worry though, those repairs you see there cost about $250 to repair by a professional. You can sometimes drive the cost right down on a purchase of a boat due to osmosis.
Osmosis is not a problem in Top Hats. Most have it, don't be put off by it.

The value is that a good surveyor should know what the value for condition is of the boat. He can save you heaps and make you feel confident of the purchase price.

NOW is the time to buy a boat. The current flood of imported boats and the economy is driving the prices down and you can get a bargain. Recently a boat was advertised here in Lake Macquarie for 10k, and 12 months later it went for $6,200. (Mk 1 with an outboard).
Generally if you get the boat slipped to survey and don;t buy the boat YOU pay for the slipping. If it hasn't been antifouled recently and the sale falls through YOU pay for slipping and the owner puts a coat of anti foul on it. If YOU buy it, HE pays for the slipping and you antifoul it. It's then right for 12 months. Make that arrangement clear before you slip it.

Buying a boat is the SECOND happiest day in a boat owners life!

Good on you for asking questions, there are no silly questions, just silly answers.

Enjoy your dreams, go for it.

[Dolphin]

Russell,if you need a starting point, I used Doug Brooker. From a search it seems he is still in business. He did an out of water survey on Felicite 20 years ago and his report was very accurate. He is a specialist in wooden boats. Recently he wrote an article in cruising helmsman about surveys and what to look for.
He works out of Bayview in Pittwater but he did my survey in Middle Harbour at the Spit.

Hope it helps.

[SeaLady]

Get a professional survey.

You can certainly have someone who knows what to look for take a peek unofficially.
But if the survey picks up something that is either a deal breaker or a major negotiation point it is well worth it.

e.g. I had surveys done on 2 boats.

1 - a trailer sailer - I was there when the surveyor did his stuff and his unofficial report was - don't touch it with a barge pole. - He then asked if I wanted an official report typed up. I said no.

2. On "Sea Lady" He picked up something that was estimated to cost $2K to repair, a waterlogged rudder which was impossible to see unless the boat was out of the water so I had the price reduced by $2K.

Well worth the money if you can't afford to throw the money away and/or you do not know the history of the boat.

Diana