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Selling survey...? How much

Discussion in 'General Yachting Discussion' started by Norseman, Aug 6, 2015.

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  1. Norseman, Aug 6, 2015
    #1
    Norseman

    Norseman Senior Member

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    Quick question:

    I surveyed, sea-trailed and hauled a boat 10 days ago.
    Then I rejected the deal.
    Now the broker and the surveyor are asking If I want to sell the survey and the oil sample reports to another potential buyer.
    Uh, okay.
    How much should I ask?
    80%, 50%?...or what.
    Never done that kind of deal before. :rolleyes:
  2. NYCAP123, Aug 6, 2015
    #2
    NYCAP123

    NYCAP123 Senior Member

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    Why any discount? If the new buyer had a surveyor he trusts, he'd have it done by him. He's counting on you trusting yours, along with the convenience of saving him the trouble of getting it done which could entail him doing some expensive traveling and a day away from the office. I'd simply tell them 'Sure. I paid $-------'. If he offers less then negotiate, but don't start off giving it away. Of course if you have a need to give away your money I'll PM you my address.:D
  3. Norseman, Aug 6, 2015
    #3
    Norseman

    Norseman Senior Member

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    Ok, I will PM you with any excess money, but uh, don't hold your breath:)

    Been negotiating the last 30 minutes.
    Started at 80%, no cigar, then went to 50%.
    Then the broker said buyer was going for an insurance survey instead,
    Usually $10 per foot rather than the $18 I paid.
    My final offer was $350, but the cost conscious buyer would rather pay $280
    For an in-water survey. Good luck to him, or her.;)
  4. olderboater, Aug 6, 2015
    #4
    olderboater

    olderboater Senior Member

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    First, check that you didn't sign anything prohibiting you from doing so.

    Then I'd say 50% is fair. Basically splitting the cost.
  5. Norseman, Aug 6, 2015
    #5
    Norseman

    Norseman Senior Member

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    Nah, signed nothing except the check.

    50% sounds right but the other buyer cheaped out.
    Listing broker says there is 3 more buyer lined up, perhaps one of those are smarter..
  6. RER, Aug 6, 2015
    #6
    RER

    RER Senior Member

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    You own it, you can sell it. About half your cost is typical. Usually an option only with a very recent survey. And the insurance company and/or lender will likely require that the report be rewritten in the new buyer's name ...so the surveyor will have to agree to do so.
  7. Norseman, Aug 7, 2015
    #7
    Norseman

    Norseman Senior Member

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    Yeah recent survey, 7-29-15.
    Yup, I own it, another learning experience.
  8. RER, Aug 7, 2015
    #8
    RER

    RER Senior Member

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    Ethically, he can only re-sell it with your permission. In each of the times I've done it, the surveyor switched out the names at no charge and payment went from current buyer to previous buyer.
  9. olderboater, Aug 7, 2015
    #9
    olderboater

    olderboater Senior Member

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    The reason I brought up the question of ability to resell were survey agreements like this:

    Notwithstanding delivery of the Report to Client, the Report shall remain the sole and exclusive property of Surveyor, and distribution of the Report to anyone other than Client’s insurers and Client’s lenders is strictly prohibited without Surveyor’s express written authorization. Notwithstanding any provision in this Agreement to the Contrary, Client expressly agrees to release, defend, hold harmless and indemnify Surveyor and Surveyor’s employees and representatives, of and from any and all disputes, actions, claims, demands, liabilities, judgments, and attorneys fees, which are related to or arise directly or indirectly from Client’s distribution or sharing of the Report to, or any use of the Report by, any entity, person or persons without such express written authorization by Surveyor.
    ​
    I know it's unusual but it is occasionally done.
  10. RER, Aug 7, 2015
    #10
    RER

    RER Senior Member

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    The survey reports I see always contain a hold harmless/disclaimer. Some are one sentence. Some are a full page. Some say 'Privileged & Confidential' but none claim to remain property of the surveyor.

    Anyway, the times I've had a buyer re-sell one the name had to be changed and the surveyor agreed to do it.
  11. TeKeela, Aug 7, 2015
    #11
    TeKeela

    TeKeela Member

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    If I were the 2nd potential buyer, I would get a different surveyor AND buy the first survey, compare the two and use that data to make a decision on not just the vessel, but add the differences into my database of who does a more thorough survey.
  12. Norseman, Aug 7, 2015
    #12
    Norseman

    Norseman Senior Member

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    Smart thinking...

    Now I am making another offer, this time on a boat in Fort Lauderdale.
    Interesting times ahead..
  13. Capt J, Aug 9, 2015
    #13
    Capt J

    Capt J Senior Member

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    Usually it's 50% of the survey price and oil samples, not including the haulout price . Did you reject the boat in Fort Myers? I'd look at those Island Hoppers.
  14. Norseman, Aug 9, 2015
    #14
    Norseman

    Norseman Senior Member

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    Yup, rejected the Sarasota boat.
    Too many little and 2 big things wrong.
    (No oil pressure indication and exhaust leak on the elbow after the turbo)
    Certainly fixable if I could set up a tent in the sellers yard, or bring it home in 1/2 hr, but not going around the Florida Keys as is.
    Buyer did not indicate he would have it taken care of before closing either.

    Looking at another, same type with less hrs, right here in Fort Lauderdale, will make offer and survey/trial, then we shall see.
    Back-up buyer rejected my price on the survey/oil samples, no big deal.
  15. Capt J, Aug 9, 2015
    #15
    Capt J

    Capt J Senior Member

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    Have you seen an island hopper in person? I think those fit what you're looking for pretty well and they're beamy and stable.
  16. Norseman, Aug 9, 2015
    #16
    Norseman

    Norseman Senior Member

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    Uh, no...?
    Tell me what it is, or I will google it:)
  17. Capt Ralph, Aug 9, 2015
    #17
    Capt Ralph

    Capt Ralph Senior Member

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    You thinking about the old dive boat style and single diesel? That could be a great idea.
    Even an older (used) should still be solid. No bells & whistles but fairly solid.
    There was another brand built up around Deland FL that was similar also.
  18. Capt J, Aug 9, 2015
    #18
    Capt J

    Capt J Senior Member

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    31' island hopper, it seems to meet all of the criteria you were looking for. They made some with just a hardtop, some with a flybridge, single or twin diesel, commercial like.
  19. Norseman, Aug 11, 2015
    #19
    Norseman

    Norseman Senior Member

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    Got a call today from listing broker.
    Sold the survey and oil sample reports for $350.
    My cost $574 plus the haul.
    Why not, good deal.
    Thx for advise, I will buy ya'll beer (and cheap rum for rcrapps:)
  20. Capt Ralph, Aug 11, 2015
    #20
    Capt Ralph

    Capt Ralph Senior Member

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    Your a good man. One day I'll find a way to collect.:)
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