I am looking at a 2000 Hunter 290 to purchase. It has several stress cracks along the toe rail area from the arch to several feet ahead of the arch. The broker says it was tied to a pier in a storm and hit to pilings there causing the cracks. The door frame to the aft cabin seems a little loose compared to other 290's also. Does anybody know if this could have caused structural damage to the hull/deck joint or bulkhead? Can the cracks be repaired so that you couldn't tell that they ever happened? How much should this hurt the resale value? All opinions would be greatly appreciated. Thanks, Dan
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Stephen Baltes
Get a Survey
Sounds like a definite case where a survey would be justified!! A good surveyor should answer all your questions as to current structural damage and give you heads up on future resale as well.
Sounds like a definite case where a survey would be justified!! A good surveyor should answer all your questions as to current structural damage and give you heads up on future resale as well.
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Dan
Pre-survey research
If there is a good possibility of structural damage being done then I don't want the boat. I am trying to make these decisions before going to the expense of hiring a surveyor. If I decide to make an offer I also want to know how much I should deduct for the damage and then if we agree on a price I would definitely have a full survey done. Thanks, Dan
If there is a good possibility of structural damage being done then I don't want the boat. I am trying to make these decisions before going to the expense of hiring a surveyor. If I decide to make an offer I also want to know how much I should deduct for the damage and then if we agree on a price I would definitely have a full survey done. Thanks, Dan
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Dan
Negotiation
Dan, You are asking a question that can be pretty difficult to answer, even if we were looking at the boat. Fiberglass is pretty interesting stuff, and chances are the problem can be corrected. The adjustment for that correction is the difference between the value of the boat (what you are willing to pay if the problem did not exist) and the cost to do the correction. Somewhat simplified, but close enough for this discussion. In a way, it sounds like you are trying to analize the cost for repairs and deduct that, but then depend on the survey to look for other damage. Another way to approach this, if you want to avoid the cost of the survey as your sole risk, is through some creative negotiations. Offer the Seller a sum that you would be comfortable with along with a maximum amount that the repairs can cost. For example $69,000 and repairs can't be more than $1,000 based on the survey, which you agree to pay for if all conditions are met. In the event the costs are more than $1,000 for those repairs, based on the survey, the Seller pays for the Survey and you all go your own way. Obviously, any other conditions could be added, like problems with resale value identified by the surveyor. Remember, its not just about money, it is also about the terms. Frankly, given the damage, I'm surprised the Seller is not getting a survey to negotiate any repairs with his insurance comapny, but thats another issue. Hope this helps. Dan Jonas (S/V Feije II)
Dan, You are asking a question that can be pretty difficult to answer, even if we were looking at the boat. Fiberglass is pretty interesting stuff, and chances are the problem can be corrected. The adjustment for that correction is the difference between the value of the boat (what you are willing to pay if the problem did not exist) and the cost to do the correction. Somewhat simplified, but close enough for this discussion. In a way, it sounds like you are trying to analize the cost for repairs and deduct that, but then depend on the survey to look for other damage. Another way to approach this, if you want to avoid the cost of the survey as your sole risk, is through some creative negotiations. Offer the Seller a sum that you would be comfortable with along with a maximum amount that the repairs can cost. For example $69,000 and repairs can't be more than $1,000 based on the survey, which you agree to pay for if all conditions are met. In the event the costs are more than $1,000 for those repairs, based on the survey, the Seller pays for the Survey and you all go your own way. Obviously, any other conditions could be added, like problems with resale value identified by the surveyor. Remember, its not just about money, it is also about the terms. Frankly, given the damage, I'm surprised the Seller is not getting a survey to negotiate any repairs with his insurance comapny, but thats another issue. Hope this helps. Dan Jonas (S/V Feije II)
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Terry
Hi Dan, I doubt that you can get an informed ...
decision or comment to your question from this site. It takes a trained eye on the boat, inside and out, to answer your questions. If you're not prepared to order a survey, I suggest you move on to the next boat. IMHO the way it mostly works is you find the boat you want, you make an offer based on what the boat is worth to you. After the buyer and seller agree on a price, a Sales Agreement is prepared with contingencies, e.g., survey, loan approval, insurance coverage, etc. At this point the buyer orders a survey and from this determines whether to proceed. I'm sorry if I'm preaching to the choir, but even some of the better surveyors may defer boat repair estimates to a yard for a price quote. When it comes to repairing structural damage often times they won't know until they cut out the damaged section to find more. One good thing can be said about fiberglass boats. They can be repaired with the end result being as good if not better than new. Terry
decision or comment to your question from this site. It takes a trained eye on the boat, inside and out, to answer your questions. If you're not prepared to order a survey, I suggest you move on to the next boat. IMHO the way it mostly works is you find the boat you want, you make an offer based on what the boat is worth to you. After the buyer and seller agree on a price, a Sales Agreement is prepared with contingencies, e.g., survey, loan approval, insurance coverage, etc. At this point the buyer orders a survey and from this determines whether to proceed. I'm sorry if I'm preaching to the choir, but even some of the better surveyors may defer boat repair estimates to a yard for a price quote. When it comes to repairing structural damage often times they won't know until they cut out the damaged section to find more. One good thing can be said about fiberglass boats. They can be repaired with the end result being as good if not better than new. Terry
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Dan
Thank you
Thanks for all of your replies. I like the negotiation ideas. I hadn't thought of that. The more I think about this boat though the less I like the idea that it has been damaged so I may pass on it for another one. I have had 2 other boats in the past surveyed and I rejected them based on the survey findings which I probably could have found before the survey and saved myself quite a bit of money. I would prefer not to run into this situation again. Again thanks for your opinions and ideas. Dan
Thanks for all of your replies. I like the negotiation ideas. I hadn't thought of that. The more I think about this boat though the less I like the idea that it has been damaged so I may pass on it for another one. I have had 2 other boats in the past surveyed and I rejected them based on the survey findings which I probably could have found before the survey and saved myself quite a bit of money. I would prefer not to run into this situation again. Again thanks for your opinions and ideas. Dan
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