Negotiating after the survey

The buying process · Power & sail

Almost every survey finds problems, even on well-kept boats. The report's priority list shows what must be fixed for safety, what can wait and what is cosmetic. Use it to decide whether to accept the boat, renegotiate or walk away.

Reading the report

• Surveyors rank findings by urgency. BoatUS describes A items as must-dos that could sink, burn or injure (bad hoses or seacocks, wiring faults, missing required safety gear, propane faults), B items that become hazards if left, and C items that are routine upkeep.
• Insurers read the report too. They usually require the urgent items fixed, often within a set time, with proof such as yard bills or a surveyor's sign-off.
• Twenty or thirty findings is normal on a used boat. A report with almost nothing in it more likely means a thin survey than a perfect boat.
• The report also gives a market value. If it comes in well below your offer, that is a fair reason to revisit the price, and a lender will look at that number closely.

What is worth negotiating

• Normal wear for the boat's age should already be reflected in a fair offer. Negotiate over bigger items that weren't disclosed: engine trouble shown by oil analysis, rigging at the end of its life, wet core, failing tanks, or gear that didn't work on the sea trial.
• Get written estimates for the big items so both sides are talking about real numbers, not guesses.

Price cut or seller repairs?

• A price reduction lets you choose the yard, the parts and the quality, but you carry the risk if the job grows. A seller repair moves that risk to the seller, but you have less say in how the work is done.
• If the seller repairs anything, have it reinspected before closing and put the terms in a signed amendment to the purchase agreement. Don't rely on a verbal promise.

Walking away

• If the findings are too much, reject the boat before the contract deadline and your deposit comes back under the survey condition.
• Ask the surveyor to check likely deal-breakers first, such as structure and wet core. If one turns up early you can stop, pay only for the time used, and skip the rest of the survey and the haul-out.
• By survey day most buyers are attached to the boat. A boat that needs major structural work is rarely a bargain, especially as a first boat.

General guidance for recreational boaters, researched from the sources listed and written in our own words. Your equipment manuals, local knowledge, the Navigation Rules and a qualified instructor come first.