The importance of honesty…*or* Why the hell didn’t the seller mention that the starboard engine is broken???

Another episode of my ongoing journey to buy a boat.

Last week after my survey day was well underway and we had already begun the sea trial, the current boat owner decides to say “the carburetor on the starboard engine won’t go into secondary so it doesn’t go above 3000RPMs”.

Even I knew that the beat needs to run at full throttle on a sea trial.  The owner obviously knew about this before we left the dock.  It wasn’t noted in the listing, nor at the beginning of the survey.  Did he think we would’t notice?  Why on earth did he drive in from Arizona to the survey if he wanted to hide information?  This wasn’t a craigslist find…a style of purchase which I’m assuming may be less likely to go through all of the proper inspections.  He has the boat listed with a broker so he must know that a potential buyer will have a survey done.

Speaking of the survey, it came back today.  There is about $16,000 worth of repairs that need to be done.  Plus more non-immediate things to be repaired.  The $16k refers to the work that is necessary for the boat to be insured and be permitted in a marina.  And that doesn’t even include the engine repair which must be done before the boat can go out on a full sea trial.  I’m not even sure how that will work as far as cost and scheduling.

One main problem is that the bonding wires are disconnected, which has caused a bunch of parts of the boat to corrode.  Why they were disconnected is a mystery.  There’s no benefit to disconnection, according to the people I’ve asked.  Apparently these wires control the scientific issue of electricity  and water and metal.  I’m not quite bright enough to explain that, but I am bright enough to understand that they should remain connected.

I am in quite the pickle now.  Today I also had a meeting with the dockmaster who has rearranged other boats in order to fit the Si Yes Da for me.  I can move in whenever I like.  Too bad I may not have a boat.  My loan approval is only valid for 30 days.  Annnnnd the slip I secured is only so big, we planned for an 11’6″ beam (width of the boat), which is fine for most sailboats, but a power boat may be more.

Worst case, I lost the money I spent on the survey, lose my loan, lose the slip and have to start all over again with a lowered credit score.  Better case…I get a survey allowance for the repairs and the owner repairs the starboard engine…then I only have to look forward to about $7k in other repairs that need to be done.   Best case…I forget about this boat, get reimbursed by the seller for my survey since he concealed information which prevented a proper sea trial and I magically find another boat in the same range, get a survey done immediately and move into the slip.

The search continues….

 

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