quickie update:
We've offered on a boat which was literally across the canal (up quite a
way, though barely in sight) from the failed offer. Lydia's not seen the
boat, so we leave to see it on Saturday, survey Sunday and Monday, and
anticipated close 23rd...
Much simpler boat, and an owner who is the diametrical opposite of the
prior... For a quickie review of that boat and deal, see
http://tinyurl.com/2udky Please note that is NOT this weekend's trip!
More when we get back...
L8R
Skip and Lydia
--
"And then again, when you sit at the helm of your little ship on a clear
night, and gaze at the countless stars overhead, and realize that you are
quite alone on a great, wide sea, it is apt to occur to you that in the
general scheme of things you are merely an insignificant speck on the
surface of the ocean; and are not nearly so important or as self-sufficient
as you thought you were. Which is an exceedingly wholesome thought, and one
that may effect a permanent change in your deportment that will be greatly
appreciated by your friends."- James S. Pitkin
"Skip Gundlach" wrote in
message link.net...
#@W$E%^&(*I()__(#@$%^
The boat we'd thought for sure we'd be provisioning this weekend is still
'sale pending' on YachtWorld, but that's just because the broker hasn't
updated it yet.
Those of you who have followed our adventures know how we got here, so
I'll
not repeat it. We found a boat, had an engine survey done because the
engine room was such a disaster and high hours suggested problems might be
there. The engine/generator survey came back from the surveyor, also a
marine diesel mechanic company (so able to quote repair prices firmly)
with
(some ranges due to potential digging-further potential) 4+ - 6+ thousand
in
recommendations, but the engines themselves were sound, even though mature
in hours.
Owner offered 1500 and I was ready to walk but the listing broker affirmed
that he would work to achieve, and was confident he could get, more after
a
full survey, but rather than getting bogged down, when there were known
issues which would arise in the full survey, to proceed. We reluctantly
did.
We used Pete Brown, a consummate professional, who swarmed over and under
and into the boat, including a detailed rigging survey to the tops of the
masts. His survey disclosed pretty much what we already knew, plus some
minor hull issues, but plus some very distinct safety and security issues.
His report indicated such.
We did a rigorous and aggressive search for the least expensive way to
accomplish the resolution of the issues, and after doing that, found that
it
would cost between 17+ and 24+ thousand. We were willing to deal with the
problem resolution (see my post on walking out after a bad survey), but
the
seller offered 5k.
However, the frosting on the cake is that the lender kicked it out after
seeing the survey (unless the recommendations were addressed -
recommendations being different than suggestions, of which there were 5
pages). Both our broker, and a later broker on a different boat, say that
they've never seen a boat rejected for financing based on the survey -
which
gives you some concept of the severity of the issues of this boat...
The bottom line to this owner is he's an attorney - not a boater - who
inherited it, and his initial bargaining showed that he was not operating
from good sense, rather, revenue maximizing (his initial counter, and our
counter-counter, was less than 4% apart, and he tried to split it). My
later assessment of his position based on his engine survey response was
that he's a penny-pincher, trying to maximize the money realized, rather
than take his windfall and run. The response to the full survey just
confirmed this opinion in spades.
So, we're now into buyers' broker agreements, with the accompanying
search,
and continuing to look for our Morgan 46, Flying Pig :{))
L8R
Skip and Lydia, frustrated
--
"And then again, when you sit at the helm of your little ship on a clear
night, and gaze at the countless stars overhead, and realize that you are
quite alone on a great, wide sea, it is apt to occur to you that in the
general scheme of things you are merely an insignificant speck on the
surface of the ocean; and are not nearly so important or as
self-sufficient
as you thought you were. Which is an exceedingly wholesome thought, and
one
that may effect a permanent change in your deportment that will be greatly
appreciated by your friends."- James S. Pitkin