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old yacht purchase

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terazzzu View Drop Down
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    Posted: 27 Nov 15 at 11:43am

Hello,

The yacht was always my dream.  I found good one in Palm Beach. I want to take my friend mechanic to inspect it. Hatteras 85, it is old (1989). I understand that the condition can be not the ideal, but maybe I will ask the owner for the price reduction. What things must I check first of all for the yacht of this age?  

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JimC View Drop Down
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Post Options Post Options   Quote JimC Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 15 at 12:24pm
I suggest it would be wise to shell out the money for a professional surveyor. There are things that can go very badly wrong you need specialised equipment to check.
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MerlinMags View Drop Down
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Post Options Post Options   Quote MerlinMags Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 15 at 4:30pm
Perhaps have a look with your friend and discuss the problems. But do not commit to buy at this point.

If you want to buy it, tell the owner you will be getting a marine survey done before making any agreements about purchasing.
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rich96 View Drop Down
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Post Options Post Options   Quote rich96 Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 15 at 5:21pm
This is likely to be the price of a holiday home and you wouldnt just have a mate do a quick look over one of those before you bought it ?

Also there are many more things to wrong with a yacht so do what everyone else does and get a full survey.

Depending on what they find that may be the best money you ever spend (you may get a large discount, you shouldn't end up with a nightmare and, as long as the surveyor is properly insured, you will have some comeback on them if they miss something) - no brainer really ?
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JimC View Drop Down
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Post Options Post Options   Quote JimC Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 15 at 5:31pm
Mind you. it may be that an initial inspection with a friend will tell you to run away without going to the expense of a surveyor. One thing for sure, lot more people trying to sell old boats than want to buy them.
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Presuming Ed View Drop Down
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Post Options Post Options   Quote Presuming Ed Quote  Post ReplyReply Direct Link To This Post Posted: 28 Nov 15 at 10:47am
Buying a boat - especially a large boat - is not so much acquiring an asset as exposing yourself to a liability. Make yourself very aware of costs to get this boat into usable condition, and ongoing running costs. Which won't be small. 
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terazzzu View Drop Down
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Post Options Post Options   Quote terazzzu Quote  Post ReplyReply Direct Link To This Post Posted: 30 Nov 15 at 9:14am

Thanks people, Surely, I will hire a good surveyor if I decide to purchase the boat. Well, we saw the boat. The owner admitted that the generator should be replaced. Besides, the basic electric items need the replacement too. So, this is the first problem we fund and he is ready to reduce the price for the refurbishment. Where to check the price for the electric stuff? I looked here https://www.mrosupply.com/lighting/lighting-fixtures/ but there are only some parts we will need. So it difficult to estimate now how much will I spend for the electric upgrade. After I hire a professional to check the boat, I think other problems will arise too. 

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Van Mentz View Drop Down
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Post Options Post Options   Quote Van Mentz Quote  Post ReplyReply Direct Link To This Post Posted: 30 Nov 15 at 12:29pm
Is it American electrical installation or European? Big difference and you don't want the American system over here. It's not the purchase price that will break you it will be the re-build and upkeep. Think of your worse case price and double it, that will be about what it will cost you.
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