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BEWARE!! 46ft Markley Myrtle Beach

Discussion in 'General Yachting Discussion' started by Knight, Jun 6, 2017.

  1. bayoubud

    bayoubud Member

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    I have ran into the same situation twice this year. And think the suggestion of a short run on the boat and thorough review of maintenance records (with a contract)before actual survey/ seatrial is the only way to go. You simply cannot accept the listing info or the knowledgeable owner maintained with an open check book pitch. Some boats you inspect look really good until you hire good buyers surveyors.
  2. AdrenalinJunki

    AdrenalinJunki New Member

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    I have a good broker who represents me when I buy a boat. I want someone representing me, since the listing broker is loyal to the seller. Only once have I purchased through the listing broker, thinking I could get a better deal. Never again. My broker has saved me time and money.
  3. Knight

    Knight Member

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    At this point I trust Noone but myself. Of course I'm a lot more educated now. You can contest to this capt J. I've been at it for a while now. I don't have a boat yet because of the dishonesty out in the market.

    Some brokers are waiting for the guys with open check books to come along write it and deal with the problems themselves. Who cares if they have twice what the boat is worth within a year. Long as they get what they want. There out there, but I work hard for my money and don't let it go that easily. One thing I hate is buying something that depreciates.
  4. Capt J

    Capt J Senior Member

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    I'm not contesting it. I have several owners that have me inspect a yacht, after they've looked at it but prior to them making an offer. I go through the whole boat, and aside from something on the bottom can pretty much pick up most everything a surveyor will. That being said, there are A LOT of tire kickers out there and most all owners won't agree to a pre-survey boat ride. In that case the buyer should offer to pay the expenses of it.

    Unfortunately 99.9% of all yachts and all cars depreciate.....so either you agree upon the expense and money loss or you don't. A car is needed for tranportation. A yacht is simply an agreed upon expense.

    Not to mention on yachts, something is breaking on each yacht while I'm typing this. A lot of systems, things break. One yacht I manage, only 1 thing came up on the hull survey, the grill wasn't working, we knew that and so did the buyers. I had just come back from a 700nm trip, with no issues. On the seatrial the s/s 1/2" thick exhaust support rod snapped the weld when I was getting on plane getting out of the inlet, the stbd inbound exhaust manifold gasket started leaking at WOT, and some erroneous MAN alarm went off (bad sensor) all within 30 minutes on a boat that had zero issues on a well serviced set that was 5 years old and 800 hours.......sometimes it just happens.....I told the owners to deduct $10k and make the sale....new owner bought it and no further issues despite him putting 500 NM's a month on the boat via 2 different 3 day trips a month.
  5. Kevin Frazier

    Kevin Frazier New Member

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    That is a good point. Many owners will accept a hard offer with the caveat of a survey and sea trial.
  6. Knight

    Knight Member

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    The biggest problem are the issues are purposely being withheld from buyers. Brokers are unfairly putting the responsibility on the buyers, ether buy it with the problems, negotiate with owner fixing the issues, lowering the price or lose the survey cost. Brokers are hoping buyers will push through the sale even though there not happy because they have spent a couple grand in the deal already. It's just a complicated process.

    Why can't owners pay for surveys first, fix issues that are found if cost effective. Present to potential buyers and honest report so they know what to expect if they want there own survey. Only problem with this is boat sitting on market for a long time could make this not cost effective.
  7. Capt J

    Capt J Senior Member

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    Generally, I've found when owners have decided they're done enjoying the boat, they pretty much stop fixing things that break. So the boat is in good shape when they first list it, but then they're usually priced too high for it to sell.......So it sits.....the longer it sits, the more stuff breaks that either the owner doesn't realize because he hasn't used it, or just doesn't want to pay to fix.....so months and months of broken things add up by the time he finally lowers the price till an offer comes along. Ideally you want to buy a boat the owner is still using and enjoying.......it's a tough process......but buying a short sale house is a similar situation for example......
  8. Knight

    Knight Member

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    I agree, but owner and broker still needs to be more honest about boat condition. This idea about... O that's what a survey is for is just ridiculous. A few minor things is understandable but when they find thousands or 10s of thousands of repairs needed its plan misrepresentation. With holding old surveys is fairly common to I've noticed.
  9. Pascal

    Pascal Senior Member

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    The problem with surveys is that they belong to the person who hired the surveyor so I found a potential buyer surveys the boat and rejects it, the survey belong to him unless he agrees to have the seller or broker use it.

    It's not a brokers job to list the issues to the buyer, unless he is aware of them like a blown engine. It's up to the buyer to do his homework and inspect the boat or if he s not experienced then he should hire someone.

    I ve seen buyers use the services of a captain while boat shopping to weed out the bad apples. I've done this as a captain and saved prospective owners thousands of dollars in wasted surveys.

    This is also when using a buyer's brokers is well worth it. I ve found that a good buyers broker will be get much faster response from a seller's brokers as if a buyers is serious he will be taken seriously by the seller who will not reject a serious offer subject to pre survey sea trial
  10. Knight

    Knight Member

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    Actually it is his job. Not to mention its not hard to turn things on and make sure they work and do a seatrial with owner to check drive train. Moisture, structural issues or internal engine wear is not expected. The last boat survey i paid for took him 3 hours. Cost was 750. Now come on 200.00 an hour to turn things on and run a meter over boat. Engine survey took two hours which was 1400.00. If boat turned out well, owner reduced the price or repaired items. I would have been fine with it. But owner wouldn't do anything to sell the boat.
  11. bayoubud

    bayoubud Member

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    Knight, you know a boat is nothing more than a hole in the water with a owner and broker saying " there is gold down there."
    The real problem is the broker may not know the condition of the boat they have listed and described. which raises the question, should there be a process to confirm condition when listed, so the broker is not misleading buyers with alluring descriptions? Also, all listings need to be updated, as Capt J said, sitting at the dock deteriorating while deferring maintenance.
  12. Knight

    Knight Member

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    I disagree, there memories, ways to spend time with friends and family. Enjoying life to its fullest doing what you love is priceless in a sense. Brokers have a choice. Properly disclose condition or chose to play ignorant and hope they don't piss off potential buyers and lose a sale.
  13. Capt J

    Capt J Senior Member

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    How is the broker going to know the condition besides what the owner reports to him and what's readily visible? Every owner says their boat is perfect. Half are too uninformed to even known otherwise. If a buyer surveys the boat, the seller and broker don't see the survey unless the buyer shares it with them.

    OTOH I do some business with a yacht manufacturer. They survey engine and hull, every yacht they take in on trade. But they're a manufacturer not a broker that just listed a boat.
  14. Knight

    Knight Member

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    I don't expect a perfect discloser, just a honest one with items they know about and how could they not, it's there boat. Knowing what works and what does doesn't, also any mechanical issues normally determines the value of the boat, who doesn't want as much as they can get for there boat. Why play games with people?. I guess if they say there boat is perfect when it's not, there not being truthfull. I would never sell my boat and expect my broker to hide or lie about the issues or i would just get them fixed. Nor would i hide them from my broker. Honesty goes a long way in business.
  15. GhostriderIII

    GhostriderIII Member

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    The engines are C15's - how did they survey?
  16. Knight

    Knight Member

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    It wasnt terrible but not good as they thought with only 350 hours. After I got the hours since last oil change, oil test showed excessive wear for those hours. Possibly could have been the over heating issues prior to survey. Scanner showed three overheating cycles. Impeller was bad and had to be changed. Also it had high blow by readings. Tranny was good. Coolant showed some issues and was discolored.
  17. bayoubud

    bayoubud Member

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    Typical low hour boat that has been sitting at the dock. Who thought those hours over 11 years was a good thing?
  18. Knight

    Knight Member

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    I agree, several missing parts of the boats history
  19. bayoubud

    bayoubud Member

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    What did your engine surveyor say about fluid samples and blow by?
  20. 30West

    30West Member

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    Mine had 320 hours in 12 years, and is near perfect. He was still using it to go to/from his island home, I don't think it sat overly long, but was stored during Canadian winters. Nothing was maintained or repaired, not even the impellers, but not much was used either. I don't think he went below much on his commutes. I have a lot of little things to check and do after 12 years, but it is like a time capsule inside: barely used, lightly run.

    My surveyor didn't turn systems and components off and on, mostly checked the hull and deck for moisture, checked the running gear for visible problems. For the price I was paying, a lot could have been wrong and it still would have been a good deal, so I didn't push things. If I'd been paying what it is worth, I'd want a much more comprehensive survey.

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