Hey guys!
After a long and painful process, and a somewhat unsettling survey, I have reached an agreement on the purchase of a 2000 328 Vista. I close this Friday!
Final sales price $64,500 (yes, I know
)
After countless phone calls with the broker, endless haggling, and seven separate faxes, some five pages long, we finally have an agreement from all parties. Here's my story...
My wife and I responded to an ad for this boat primarily because it was stored at a marina only 20 minutes from our house. After having a survey done earlier this year on a boat in Georgia and spending almost $2000 (flight, rental car, meals, haul-out, survey, drop, etc...) only to find that the boat had significant structural issues, I was only too happy to have an opportunity to look at a boat that was practically in my back yard.
[By the way, here's a tip from me to you - Many smaller boats (40 feet and under) on the used market are not in the condition they're advertised to be, making it somewhat more likely than not that issues a prospective buyer cannot live with are discovered during the survey. Therefore, I strongly recommend committing to a local radius when searching for your boat. If the boat is less than 4 hours away by car then go for it. If, on the other hand, you have to fly to the boat's location, it's simply not worth it, unless you can find someone local to the boat who can give it a once-over before you waste money you will never get back flying down.]
Anyway, the boat was listed at $95,000 on Yachtworld, iBoats, Boattraderonline, and wherever the heck else we saw it advertised. I knew there was no way on this big blue marble that a 2000 328 was worth $95,000 but, to be honest, that's what made me want to go check it out; I wanted to see the imagined gold-plated cleats and a helm so fantastically appointed that I'd be able to control the boat merely by thought. Sadly, it was just a boat, and a surprisingly filthy one at that.
I looked around and saw some minor issues, such as mold on the icemaker door seal, a camper canvas that was obviously not well maintained at all, a loose salon table base, etc... Like I said, minor issues. The broker asked what I thought and what stuck out to me more than anything was how absolutely and unbelievably filthy the boat was, and I said so. Other than that I felt the boat was in pretty good shape...not worth $95,000, but in good shape.
I thought about it over the weekend and decided to make an offer of $67,000. Turns out I didn't have to contact the broker because on Monday morning he called my office. We talked for a minute and then I gave him my price. The broker became so quiet at that point you would have thought the vacuum could suck me right through the phone. He repeated my offer with an incredulous, questioning lilt at the end. I confirmed the offer with a "yes" and awaited the anticipated denial...which never came. The broker, after a few more minutes of discussion, advised he'd have to discuss it with the owner and would get back to me.
Two days later the broker advised that the owner had accepted my offer. I was nonplussed. No counter? It made no sense to me, which told me one thing...this boat has problems. Anyway, I advised the broker that I'd begin the process of lining up a surveyor, but that one of the conditions for the sale is that the boat had to be cleaned from top to bottom; that I wouldn't take it in its present astoundingly filthy condition.
So after a week of back and fourth discussions where surprising lapses in memory were constantly and inexplicably exhibited by the broker, I decided to follow-up every phone conversation from then on with a synopsis in writing, to his utter frustration and ultimate acquiescence on the cleaning issue.
On the date of the survey things didn't start out so well. Within the first ten minutes the surveyor advised that the propellers and engine housing had been recently painted (within the last week), which was good, and the engines and props did look amazing, but I was also advised that in the process of painting they also painted the anodes (commonly referred to as zincs), which rendered them completely useless. It was also advised that this is an issue that should be taken care of before the boat is dropped for the sea trial. Needless to say the broker wasn't happy, but contacted the owner who gave approval to change the anodes.
The surveyor checked out the engines, then went to the hull and checked for soundness, cracks, repairs, blisters, you name it. The hull had never been repaired and the boat had never been run aground. Hull was in great shape, no problems whatsoever. Sigh of relief. The anodes were changed while the surveyor was checking out the cockpit and engine room.
After about three hours, when the surveyor had done all that could be done on dry land, the boat was trailered to the Travellift, hoisted, secured, and slowly maneuvered to the drop point, where it was then dropped and brought to the fuel dock where the surveyor, the broker and I boarded. The next two hours were a flurry of action as the surveyor gave the broker, who was at the helm, instructions on what to do at the controls. The surveyor was all over the boat, sometimes asking the broker to repeat actions twice. I even got behind the wheel for about 10 minutes just to get a feel.
First issue: Trim tabs non-functional
Second issue: Horn non-functional
Third issue: Windlass non-functional
The boat was then docked by the surveyor at an available slip where the surveying continued as the broker left for the day. Again, a flurry of surveyish activity, during which the surveyor was kind enough to explain what was being checked and why. It was interesting and educational.
Fourth issue: Starboard nav light out
The surveyor continued methodically through a checklist.
Fifth issue: Starboard aft (house) battery not holding a charge
Sixth issue: Automatic float switches non-functional
Seventh issue: Cockpit icemaker non-functional
Issues were adding up and I was becoming increasingly nervous. I'd been out at the Marina since 10:00 in the morning. It was now after 7:00pm and the surveyor was still checking things. I had a lump in my stomach. By 7:30 I'd had enough and advised the surveyor that I had to leave for an appointment. When I left the surveyor was doing a comprehensive moisture check. I don't know what time everything was finally done.
I received a call from the broker the next day asking how everything went. I told him what I knew then and advised that I wasn't very happy but was awaiting the survey report. I told him I was convinced some of the issues had to have been known by the owner, if not the owner and the broker. At that moment I truly believed if I'd had a somewhat unscrupulous, or unprofessional, or incompetent surveyor I wouldn't have known about some of the issues.
[Here's another tip from me to you - The broker will try, as the one I dealt with on this boat did, to convince you to use one of his surveyors. Never, EVER use a surveyor recommended by a seller's broker. It's in the broker's best interest to have no (or minimal) problems found on the boat, and a broker with a relationship with a surveyor has only his best interests in mind, which is to sell you that boat, no matter what. If you're thinking about using a broker's surveyor, in my opinion, you might as well not have the survey done at all because, again, in my opinion, you'd be getting nothing but a complete whitewash.]
I spoke to the surveyor the following day and was advised that in the scheme of things the boat was in relatively good condition and if it weren't for the issues found during the survey it would be rated as better than average. Okay, so I began to have hope again. I received the surveyor's report a few days later and was impressed by the organization and detail. I was also amazed at some of the issues in the report. Cleanliness was actually mentioned, as was portlight privacy covers, which had become faded, the salon table base, and other issues I was surprised were noticed and included.
The findings and recommendations section of the survey report was neatly broken out into three sections: Safety Deficiencies, Deficiencies Needing Attention (non-safety), and Surveyor's Observations. I sent a copy of the findings and recommendations pages of the survey report to the broker the following day and advised him that I require all issues detailed in the Safety Deficiencies and Deficiencies Needing Attention sections of the report to be resolved before I would commit to the purchase and proceed to close.
More phone calls. More haggling. More writing. Grrr ....I mean Yarr!
I ultimately convinced the owner, through the broker, that I wouldn't take the boat unless all items are repaired/replaced. End of discussion. I wanted the boat, but I didn't neeeeeeeed a boat, and told him so.
Last week I received a phone call advising that the owner had agreed to just about everything and the repairs had already been started, and work orders opened for the items still to be done. The only sticking point was the camper canvas, which was in horrible shape. The plastic windows were completely brown and unable to be looked through, the screens were ripped, and a few of the zippers were missing teeth. The cockpit was literally dark with the canvas up. Horrible. The broker asked if I'd accept the canvas in the current condition, considering the owner was expending a considerable amount of money getting everything else repaired. I became incensed. It's not my problem that the owner is spending money to make repairs. The issues shouldn't have been present in the first place, and I shouldn't be made to feel responsible to defray the owners expenses by accepting a completely useless, expensive-to-repair component and convenience of the boat, and I told him so.
After a few days the broker came back to me advising that the owner agreed to either give me a reduction in the price of the boat, or pay for the windows and screens to be repaired in the current canvas. I told the broker that I would take the repair option with the stipulation that all the plastic panels are replaced and all the screens either repaired or replaced, but that because of other small issues I'm willing to live with, I now require an additional reduction in the price of the boat. My other motivation in seeking a price reduction was my very strong belief that I was outright lied to about the condition of the boat from the beginning and continued to be so even after the survey, until such time as it became obvious to even the oblivious broker that continuing down that road was a mistake.
The broker called me back the following day and advised that the owner had accepted all my conditions, including repair of the camper canvas enclosure panels, and the reduction in price.
[Here's another tip from me to you - When dealing with brokers remember to document, document, document. Document everything from every conversation. Don't consider anything too trivial. If it makes an impression during a conversation document it. If you have a disagreement document it. If an assertion is made document it. And keep a portable record of all your documents. I have mine in a loose-leaf binder that I carry with me to work and whenever I visit the marina. You never know when you'll have to refer to it, and you'll be surprised at how often you will. No one is looking out for you but you, so document until the cows come home.]
The boat's now been professionally cleaned and waxed and looks great! I received a call today advising that I can come down and inspect all the repairs whenever I'm available. I'm all giddy 'n' stuff.
Looks like I'll be on the boat this weekend.
[Another tip from me to you - Never fall in love with a used boat. Doing so will cause you to lose necessary perspective when negotiating. If you fall in love you're lost. Whether you're considering a boat listed for $5,000 or $155,000 it's a business transaction, and you should consider it as such. Fall in love after you've made a great deal. Remember, you don't need the boat.]
[A final tip from me to you - There is no bottom price to a motivated seller because as I said in another thread ...they want to sell you the boat.]
See you guys on the water!
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