Purchasing a B-373

[Dadawada]

I'm looking at a 2007 Beneteau 373 for purchase in North Carolina, US. I have sailing experience when younger but this will be my first sail in over 30 years so I'm not naive about taking courses and relearning everything again.

My questions are what should I look for that are areas to be checked out on the 373. The boat was purchased within the last year by a gentleman who I'm told purchased the boat from the original local owners. I'm told by the broker the current owner has relocated to Mexico and so now wants to sell the boat. The biggest concern is the boat has been sitting now in the water since last August. The current owner does have the boat serviced in that he has a diver clean the bottom regularly. I have seen the survey that was done last August and have a few items of concern there as well. I've asked the broker to see if the items were addressed either by the previous owner or the current owner.

-First, the boat has not been used or taken car of topside. Some of the hardware is showing signs of weather. Hatches show the spider web and one hatch shows a 3 inch crack
-There was mention of rust on the motor mount to be monitored
-There was mention of the rudder tube being slightly loose and to monitor
-There was the mention of significant water collecting in the bilge in the main salon. I was told it was the sensor needing relocation
-The boom was let drop on top of the bimini and has rubbed a hole in the bimini where it sits on the front of the frame

The boat is a 2007 and the salon looks nice and well kept. They were asking $99,500 and have said the owner is knocking off another $8,000 so the new price would be $91,500 which seems good. I've asked the broker to see if the existing items listed on the original survey were addressed or not. He says he is checking. I really don't want to spend the money on a new survey just to tell me the existing items have not been addressed. I feel these items are non-starters for me, even before I order a new survey.

I'd really like to hear from any other 373 owners or better yet someone on the East Coast of the US that might be open to talking on the phone. I'm either putting an offer in this week or walking away.

37' Beneteau 373 for Sale | Sloop | INDIGO 2828057 | Curtis Stokes Yacht Brokerage

37' Beneteau 373 sailboat for sale in New Bern NC. Get the images, complete specifications and price of this Beneteau 37 sailboat for sale.

www.curtisstokes.net

 

[Don S/V ILLusion]

Since you would need a new survey to obtain insurance, you will have to contract for one either now or later. .

I wouldn’t rely on an old survey as a basis for purchase and neither would I rely on a broker to verify any repairs.

 

[Dadawada]

Since you would need a new survey to obtain insurance, you will have to contract for one either now or later. .

I wouldn’t rely on an old survey as a basis for purchase and neither would I rely on a broker to verify any repairs.

Completely agree. I just was not interested in spending the money on a new survey if the existing things were not taken care of first. It's an indication the owner has no interest and is unlikely to make any repairs found in a new survey and I would not be purchasing the boat unless he did.

 

[jssailem]

The boat is a 2007.
The biggest concern is the boat has been sitting now in the water since last August.

It is a boat and it lives in the water.

Consider this: if the boat were a car. It would be an eighteen-year-old used car. There would be scratches and a little faded paint (especially if it was not kept in a garage). You would likely examine the interior for damage or cracked seats. You would turn on all the accessories to be sure they worked. You would know that the radio and mapping systems were old and probably need replacing. If you were not a mechanic, you would take it to a mechanic to have the engine checked out before purchasing it.

A boat is very similar. Look it over. It does not matter if it is a Beneteau 373 or a Catalina 370. It is a boat.
You need it to:

1. Float - Keep the water on the outside. If not, you must fix the leaks.
2. Move - Sitting in a marina can be fun, but boat owners want it to move. A sailboat has a primary engine, "Sails," and a secondary, "Diesel, gas, or electric". Since it has been 30 years since you last sailed, you may want a professional to inspect these for fit, infrastructure, and function.
3. Provide living comforts - You can inspect the boat's features. Decide if you want to live in this space.

 

[Don S/V ILLusion]

Completely agree. I just was not interested in spending the money on a new survey if the existing things were not taken care of first. It's an indication the owner has no interest and is unlikely to make any repairs found in a new survey and I would not be purchasing the boat unless he did.

Good thinking!

It’s probably a safe assumption that any owner who moves away and hasn’t used the boat for a year is interested only in one thing - getting rid of it without spending any more $$$ than absolutely necessary.

 

[NYSail]

Great boat…… have a survey done and see what it says. All items you mentioned are regular maintenance items. things wear out when used. Except water in the bilge. There shouldn’t be any. My 2005 423 stays bone dry. Get the survey and negotiate from there. Mean time look on yacht world and other sites and see what others are selling for and in what condition.

Good luck
Greg

 

[BigEasy]

It’s probably a safe assumption that any owner who moves away and hasn’t used the boat for a year is interested only in one thing - getting rid of it without spending any more $$$ than absolutely necessary.

Exactly! That is the type of owner who should be eager to negotiate with and you should be capable of obtaining a great deal. When I was searching for a boat ten years ago, the boats that I looked at were approximately five years old. It was amazing to see the amount of neglect that occurred on the boats. I would have expected that the owners would have cleaned them thoroughly, but they didn’t. With your new survey, you will have more negotiating power; as others have mentioned, you’re going to need the survey for insurance. This owner is not on location and will not be able to oversee repairs; you are going to have to get it done. I am thinking that you should be able to get that boat in mid $80s (especially since it has no air conditioning, that will cost at least $5000), providing that your survey reveals no deal breakers. Be sure to find out how long it’s been on market & negotiate hard on this one. Good luck!

 

[dlochner]

@BigEasy is spot on with his advice. There is a recent survey, why was the survey done and who paid for it?

Regardless of what the broker says about the repairs being done, assume they have not been completed and make your offer based on what you think it will take resolve those issues.

The owner wants to stop paying for storage, insurance, and monthly bottom cleanings. He's done with this boat and wants out. Ask the broker if there have been any offers on the boat that were turned done and when those offers were made. That will give you some guidance in the offer you make. Once the survey is done, if there are major issues that were not disclosed, you have some additional negotiating power.

I'd suggest an offer 20% below asking price and wait for a counter offer. If he is seriously interested in selling, he'll counter at about 10% off. If l liked the boat and wanted it, I'd take that offer. That's what I did when I bought Second Star under similar circumstances. The survey came back with some additional major problems. The owner paid for those repairs at a yard I trusted before we closed the sale.

Good Luck!

 

[Dadawada]

Exactly! That is the type of owner who should be eager to negotiate with and you should be capable of obtaining a great deal. When I was searching for a boat ten years ago, the boats that I looked at were approximately five years old. It was amazing to see the amount of neglect that occurred on the boats. I would have expected that the owners would have cleaned them thoroughly, but they didn’t. With your new survey, you will have more negotiating power; as others have mentioned, you’re going to need the survey for insurance. This owner is not on location and will not be able to oversee repairs; you are going to have to get it done. I am thinking that you should be able to get that boat in mid $80s (especially since it has no air conditioning, that will cost at least $5000), providing that your survey reveals no deal breakers. Be sure to find out how long it’s been on market & negotiate hard on this one. Good luck!

I offered in the 80s...thanks for the advice. Contingent on the findings of a new complete survey of course...The boat does have Beneteau AC and Heat.

 

[BigEasy]

I offered in the 80s...thanks for the advice. Contingent on the findings of a new complete survey of course...The boat does have Beneteau AC and Heat.

Great! Let us know the outcome. I made an offer on a 2005 BEN 373 before purchasing my 343; nice boat!

 

[Dadawada]

I did end up purchasing the boat. We spent the past month cleaning it up and and getting systems operational and taking the boat out for sail. We only really have to major items left to do; replace all lines and clean out the holding tanks. The rigging is useful but I wouldn't want to be caught out if a line broke so we are going to replace all the lines. The tanks have sat for months so you can imagine what shape they are in. We have shocked them and now plan to open up and power wash.

Here are pics of the boat more or less cleaned up...

 

[BigEasy]

Congratulations & enjoy!

 

[Tally Ho]

Beautiful boat. Been on my short list for a while.

enjoy

Greg

 

[jssailem]

Congrats on your new family member.