Tightliner08

I just found a potential contender that meets my needs. I've never had to get a survey done as the first boat was purchased by a very close family friend cheap and the second was brand new. What is the proper protocol/etiquette for having a survey done? Should I, the buyer, pay for it completely/deduct from sale price? Or do I request that the seller split the cost? Does the seller get the results of the survey to share, most importantly if I decide not to purchase from him?

leonreno

You get the survey after price and contact done and deposit paid, with sale pending on a good survey and sea trial. Contract would state that a failed survey or sea trial that you get your deposit back. I’m pretty sure you pay for the survey, it’s for your benefit not the seller.

airbrush

A survey doesn't pass or fail. It is a report of the condition of the boat in the surveyor's opinion.

eheath

You pay for the survey, it has nothing to do with the seller. If you don't like the report from the survey, you lose your money and move on to another boat.

Tightliner08

I should also mention that the seller does not know how many hours are on the engine (2002 Yam 225), which he said he used a lot. What if the valuation is less than the price we have negotiated? Are the results of the survey exclusive to myself and the surveyor? Or will the seller have access to them? Thanks!

bakerjw

I have no knowledge of how it works. But... If I am paying for the survey and I don't like the results and pass on the boat, the seller should not get the information without splitting the cost in some manner.

southpaw25

You pay for the surveyor and his findings report are exclusive to you. Who you share that with it is up to you. A surveyor shouldn't share any report with anyone other than the person (you) who payed for it. It has nothing to do with the sale price, it's doing your due diligence as protection on your pending purchase. I'm pretty certain that it's possible to get the hrs off that motor, you need to have the computer to plug into it. Some surveyors have the ability to get that motor info and some don't offer that as a option to do. Make sure whoever you get to inspect the boat is NAMS/SAMS certfied.

WPBTH

A 2002 Yam 225 is worth $500 MAX! Regardless of hours, unless it has the corrosion repair done to it. Even then ir would scare the hell out of me. Once you see those big bubbles she is toast.

Tightliner08

Thanks! That's essentially what I was getting at. No problem paying for it as long as it's for me, but no complaints if it were split and the seller could continue to use it as he pleases.

Now that's some verbal GOLD right there! I guess that's a big bargaining chip on my end. I'm finding it hard to get a good idea on worth between the motor, hull, and of course depreciation/hours. If you do a search, they (the motors) are selling for around $6k which is average retail...the last thing I want to do is over pay. Especially if the seller isn't willing to come down based on your valuation or anything close to that. NADA puts the hull base price around $10k, with motor around $1700, with trailer no more than $14k total. When I plug in just the motor itself, $6k. You're saying it's basically a crap motor even with the repair done?

It's a nice little CC that I'd like to introduce my son to the world of fishing on, provided I'm not over paying for it.

gregb5220

Forget NADA, boats are not like cars. NADA values are not even close. A surveyor will only take a quick look at the motor, you need a mechanical survey also.

WPBTH

Now that's some verbal GOLD right there! I guess that's a big bargaining chip on my end. I'm finding it hard to get a good idea on worth between the motor, hull, and of course depreciation/hours. If you do a search, they (the motors) are selling for around $6k which is average retail...the last thing I want to do is over pay. Especially if the seller isn't willing to come down based on your valuation or anything close to that. NADA puts the hull base price around $10k, with motor around $1700, with trailer no more than $14k total. When I plug in just the motor itself, $6k. You're saying it's basically a crap motor even with the repair done?

It's a nice little CC that I'd like to introduce my son to the world of fishing on, provided I'm not over paying for it.[/QUOTE]

6k with the repair but I dont believe that number. You wont be able to sell that motor so youre going to have to run it til it blows or take a hit. The diy kit to replace it is like $1300. However youre messing around with bolts on a motor that is 17 years old. I was searching very hard 3 years ago for my current boat. The best way I can tell you to come up with a number is break down the components (looks like you were already doing that).

I like the formula, trailer+hull +power+electronics+misc=price
People will list a boat for 20k because its a nice round number. Using the above you can break that down for them and get a price you want.
Electronics over 8 years arent worth anything.
Trailers with old axels are worth 1-2k.
Hulls can be worth a lot because they hold up.
power can be tricky, but always look to what you can buy new. A new zuke 200 is 14k. so dont tell me a motor that has a major known issue is worth almost 50% of that.

Tightliner08

This is what my local marine services will provide at $20 - 25 per foot + $75 for compression testing. Includes a performance sea trial. Anything additional you recommend I request?

• Hull, Deck & Superstructure
• AC and DC Electrical
• Fuel System
• Steering Gear
• Plumbing & Marine Pumps
• Deck Level Rigging & Sails
• Aloft Rigging
• Drivetrain & Running Gear
• Haul-Out & Bottom Inspection
• Performance Sea Trials
• Engine Compression
• USCG & Safety Gear
• Thermal Imaging

mystery

dont waste a second looking at NADA.

Tightliner08

Does anyone know if the corrosion issue was rectified with the 2006 Yam 250's?

gregb5220

No looks like they have it all covered

OurSomeday

Don't take your surveyors word for it. It's good to have a "pro" look it over, but make sure you stick your head in every nook and cranny as well. The bigger the boat the more important this is.

My first big (40ft+) boat I had a survey done by one of the most reputable surveyors in North Florida. Everyone I've ever spoken to swears by him. He did a good job and caught a lot of things. But he missed some things too, things I caught after poking around the boat for an hour.

A survey is peace of mind, especially if you aren't an experienced boat guy. I don't mean experienced running boats, I mean experienced maintaining boats. But there's no such thing as "passing" a survey. It's simply an evaluation of the boat as it sits, not a pass/fail test for value or future reliability.

Clinker

Have you looked over the boat first yourself - well worth it in case there are things that are very obvious deal breakers such as soft cockpit sole, cracked or flexible transom etc - there are some 'run don't walk' problems that you could see for yourself before going to the expense of a survey.

fireisland1

74lbSteve

There's one more factor. If you are financing the boat your bank may require a survey. Your insurance company will almost certainly require a survey. If that's the case have that survey done before you buy, even if you think you are qualified to inspect the boat. You don't want to be in the position of owning the boat, then getting a survey for insurance, and finding you have to correct a bunch of problems to get insurance.

leonreno