Horace42
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Posts posted by Horace42
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13 hours ago, jonathanA said:
That’s a new one on me. I don’t think there is any money changed on exchange of contracts, only on completion at least in England. If the chain collapses and can’t be sorted then worst case you would be liable for any legal costs incurred by you.
The deposit I think your talking about is the buyers contribution ie the difference between the buy
price and the mortgage offer.
Strikes me the OP is potentially in a good position as a first time buyer and could be able to use one of the first time buyer schemes.
You could be right, perhaps no money changes hands until completion, in the sense that the seller does not get it, but I think you will find the deposit (something like 10% as a token of good will) or as you say, could be the deposit, at least for the first time buyer, that qualifies for a mortgage, that has to be paid to your solicitor ready for exchange of contract, or your solicitor will have to give assurances that you have the money to complete (like the guaranteed proceeds of a sale in a chain) that for the first time buyer, there is no house to sell, so they won't give assurances unless the money is handed over. That you will get back (less expenses) if the chain breaks for any reason up to the time of exchange.
So the OP could be a first or second time buyer depending how the boat could be used as security.
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It is a bit of a long-shot, but what chance of finding someone who wants sell their house and buy a boat to live on.... a sort of part exchange.
Apart from that, you seem to be in the position of every first time buyer (you need enough ready money for a deposit on exchange of contracts - which means you lose it if the sale falls through because the chain collapses - yet still liable to pay the full price on completion.
So it is not a good idea to exchange contracts until you have money for your deposit - possibly by way of a 'guaranteed' loan with your boat as security - where the mortgage lender will almost certainly want you to find a buyer 'ready, willing and able' to enter into binding legal contract - then you become part of a chain - thus much the same if your boat was a house.
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2 hours ago, David Mack said:
Is yours a rowing boat?
?
Only when they argue.......!
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1 hour ago, Chewbacka said:
Not wishing to stir up an older thread, but will your home made isolator withstand a peak current of over a thousand amps for a few mS or have adequate heatsinking to withstand 16A indefinitely? Though the need to withstand 16A does assume either the rcd device is missing or not working, so less likely to be a worry today.
I fitted mine to counter milliamp stray leakage because my boat is seldom used and moored at home and permanently plugged in to mains.
I haven't the faintest idea of the fault current capabilities of my cheap GI. ... but you have got me thinking ...
When I have a moment I will dust off my multi-tester and check-out the whole boat installation and RCD tripping times...thanks for the tip..... and useful to think about if anybody wants to make their own...
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51 minutes ago, Boater Sam said:
I explained badly, the diodes produce a hold off voltage equal to their forward breakdown voltage so that the current is zero until that voltage is exceeded.
It is of course the current not the voltage that causes the electrolytic corrosion.
I have never fully understood whether a shunt capacitor compromises the diodes to some extent.
Mine is two 40A bridge rectifiers connected back to back, 2 junctions only in series. Interesting to hear that now some are 3 junctions giving around 1.8 v hold off.
Very much the same as mine. When called 'bridge rectifiers' you can make your own basic unit for circa £10. When bought ready made and sealed in a box and called 'galvanic isolators' they are circa £80 - £150 depending on the 'extras'
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11 hours ago, 1st ade said:
I don't know and that's why I'm going to do it. I initially went down the "buy one and read the book", then thought (as others have mentioned) what if there's an accident? To take the example of the wall mounted TV in a charity shop, I'm putting my name and other details to a system which could kill a member of the public; albeit under a somewhat bizarre set of circumstances.
I'm much happier replying "look, here's my training certificate, here's the calibration certificate for the PAT Tester and here's the form i completed on site" when the midden hits the windmill. (And yes, I know it's only really valid on the day but a completed certificate is better than no certificate when the enquiry finds a nail across the fuse holder. No certificate = I couldn't be bothered to check; certificate = I deliberately falsified the inspection or someone tampered after I left)
So what will a PAT Test do to a Galvanic Isolator?
I don't know what it will do to a Galvanic Isolator, GI, or vice versa - I don't know what is 'inside' a PAT tester - but I vaguely recall a simple boat type GI is nothing more than a couple of power diodes connected in the earth wire. The experts will be able to tell you.
I am sure you are doing the right thing by going on a training course and it will be a good thing - all part of the audit trail if things go wrong.
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When you attend your training course, (and assuming you have your own PAT tester), then in this scenario, you would be the 'expert' and thus would be able to tell us we need our boat tested, or not.
I am curious about the content of the training course and why it is necessary. Let's face it, you can buy a PAT tester off Amazon or eBay, read the instructions, and become a 'Tester'.
So does the course cover more details like electrical theory, form filling etc, (that creates an audit trail of responsibility when you issue 'pass' certificates), and how to service the actual equipment you will be testing, and perhaps more importantly how to find and 'fix' faults.
Having read the replies to date, I would be inclined to say boats are exempt. But having said that it would be so easy to plug a boat into your PAT - and interesting to see what happens.
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On 13/02/2019 at 22:43, Rickent said:
................Now if you take the extra £32 that was taken and divide it by 2 and add that to the two final payments of £55 that makes £71 minus the £4 refund divided by 2 and that makes the last two debits of £69 which is a saving of absolutely zilch.
My melon is well and truly twisted.
The answer is a lemon.................
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15 hours ago, Laurie.Booth said:
Can anyone tell me where the nearest dry dock for blacking is near Fazeley Marina?
Yes! See #8.
I had my boat blacked there last September. Contact Narrowcraft at Alvecote marina.
Lawrence Williams was my contact.
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41 minutes ago, MHS said:
I had walked up, opened the gates, returned to the boat and watched them close in the wind.
I then repeated the same, watching them close again before deciding to nudge them open.
If you can suggest an alternative method, I will happily try it.
No better at coming up with a solution. In fact, even with some artistic nudging and roping, opening sluices to assist in moving heavy unbalanced lock gates, and the tail end of flooding, also with heavy bridges on the K and A a few years ago that were physically demanding (and too tough for two of us at our advancing years, even waiting for passers-by to assist, we gave up and abandoned our trip to Bristol - and turned back at Newbury.
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16 hours ago, MHS said:
More relevant for single handers on the Hurleston flight is the fact some gates regularly swing open when you want them shut. Others swing shut when you want them open.
Single handing, I got a bollocking in December from a crt maintenance guy for (very gently) nudging the bottom gates open with my bows. He couldn’t understand that I had no easy other option and ranted about crt byelaws banning the act.
In this day and age I agree it is bad practice and something I avoid doing, except sometime gates are stiff, or too heavy, or off balance, and need a nudge. Where perhaps more so for those who are single handed, but I imagine in the old days it would have been normal practice for working boats to use ropes and horses and the momentum of the boat to open and shut gates without worrying too much about the delicacy and finesse of lock operation.
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19 hours ago, CompairHolman said:
" sole means of propulsion " is pretty vague.
What if you have a generator on board to charge the batteries to power the motor ?
.... as you are likely to have, where a generator would be essential because all the promised charging points never materialised, and those that have been installed are being so few and far between, meaning the generator needs to be large enough to propel the boat in the event of a flat battery, to reach a vacant mooring with a charging point.
If a generator disqualifies under terms of 'sole' - then using a pole to move the boat when the battery is flat must similarly apply.
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Is there a formal CRT definition of what an electric boat is ? - at least for the purpose of qualifying for a discount.
I would assume it is one where the prime mover is a propeller only driven by an electric motor.
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16 hours ago, BEngo said:
Sensible decision but one that should not have been necessary. The adage PPPPPPP springs to mind.
CRT really need to get some client side Project Management rather than allowing Kier to be in control. It would save them both money and embarrassment.
N
.......and also the acronym could be the factors the contract managers give priority to in decision making....
.........' Potential Pay, Pension, Perks, Privileges and Promotion in Personal Pay Packages ' ..... that must be got right above all else.... (give or take a P).
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14 hours ago, Sea Dog said:
Good idea. Replace it, fix the problem immediately (since leaks do damage), then you can dismantle it to see if you can repair it at your leisure. If you can, you have a spare; even if you don't quite fix it, you have a "get you home" spare.
Hear! Hear!
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On a technical point, the RH is affected by the air temperature and pressure.
As warm air can hold more water vapour than cold air, an increase in temperature will cause the RH to drop.
So bringing in cold air from outside and warming it up means the air becomes drier.
Things will dry out when water evaporates thus raising the RH.
Then when it cools down (eg, heat off), the RH drops, when and at the actual dewpoint (100%RH) the vapour condenses (seen as water on cold windows) but also permeates soft fabrics making them feel damp.
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6 hours ago, Paladine said:
All the reading I have done on the subject indicates that the optimum relative humidity in a dwelling is around 40%. I use a dehumidifier on my (winterised) boat and set it to 50% RH, but that is just to keep mould at bay.
2 hours ago, MartynG said:I do have a dehumidifier.
I have it on the middle setting which should mean it cuts out at 50%humidity. The instructions for the dehumidifier say 50% should be okay (see link below) .
The boat feels very dry and comfortable.
https://www.meaco.com/pdfs/Meaco DD8L Dehumidifier instruction manual_July_2015.pdf
Same with me, usually only for mooring (when at home during winter) - to stop dampness in soft furnishings and condensation on windows - set at 50% or thereabouts. Anything lower is unnecessary - it just consumes more power for no real benefit.
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On 20/01/2019 at 17:58, Naughty Cal said:
The tyres have already been changed for some cheap crap which will be replaced shortly as they really rubbish and don't fill us with confidence.
The stop start has been turned off and we have found it drives better if you ignore the eco computer!
"......Trust the Force.....Cal..."
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43 minutes ago, Goliath said:
Just thinking about the flights of locks I’ve been up and down.
Can anyone better the Delph 9?
What a cracking set of locks.
Unique and beautiful.
Like all (pretty much most) locks on the BCN they work easily, gently and quickly.
A joy to use.
superb engineering.
A delight.
And a nice pub/restaurant at the bottom.
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On 20/01/2019 at 15:44, Alan de Enfield said:
What a load of bovine excrement.
If you have in your mind the 'minimum price you will accept' after the broker has deducted his commission, and, you don't get any offers that achieve that level, then your aspirations are set too high, and 'above the market price'.
About the only thing that you have posted that id correct & makes sense.
One tries to please! bovine
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On 18/01/2019 at 12:56, Tacet said:
I never sell houses in my course of business. A formal valuation has to refer to a recognised definition - most commonly Market Value, as defined and is usually part of a lengthy report extending maybe 30 sides of A4 (at commensurate expense) ; commercial lending, tax or company accounts are common reasons for needing a formal valuation, There are some exceptions excusing the use of formal valuations - and giving a guide in the course of an Agency instruction is one of them. So, when someone on Homes under the Hammer says that a house might achieve £300,000 - that is not a valuation, in my view although others will see it that way.
The starting point for what you will be required to pay will be in the contract with your agent. But the Estate Agents Act (see s18) https://www.legislation.gov.uk/ukpga/1979/38/section/18 deals with some aspects. And if the agent is RICS registered, the Practice Statement applies
Thanks Tacet.
Reading through 45 pages of RICS guidance is something of a tall order - and something probably only needed if things go wrong - but I 'flicked' through the pages to get a 'feel' of the content.
It embodies a basis of 'fairness' for both parties.
... albeit a cynical view is the whole estate agency business is geared up for those who provide professional support services to make money out of failure. .... eg, structural surveys on aborted sales arising from broken chains... and solicitors paid fees regardless of completion.
But what of boat brokers ? is it much the same ?
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On 18/01/2019 at 21:45, Tacet said:
That would be the price - and not the market price. Economists sometimes use "market price" in relation to a commodity that is widely available - and traded accordingly. But when you are dealing with a relatively unique product, such as real estate or used boats, there is "price" - which is a post-event fact and "market value" - which is an estimate
I agree - neither party can determine the price alone. You said a Market Price is set & achieved solely by the buyer - which I disputed. I hereby offer £100 for the freehold interest in your house. But as a potential buyer, I need your agreement before that becomes the price. The price is not set & achieved solely by the buyer. Or the seller.
I have no problem with the concept of market price or actual price - these evolve during the marketing exercise. My earlier comments were more to do with the mechanism of calculating the sales price to start the marketing process to attract offers.
Put simply, if the broker deducts 25% of the sales price to cover all selling costs, then you have to add 33.3% to the nett price (the minimum you will accept) to arrive at the sales price.
If in the event of proper marketing forcing you to accept a lower price, the 25% the broker deducts will still be equal to 33.3% of the nett price you end up with.
From which, if a broker quotes a percentage for charging - you need to make sure whether it applies to the nett price you ask , or the sales price charged - and for the pedants, who will say it does not affect the market price, then it will certainly affect how much you get.
As I said, I do not know about common practice among boat brokers, but it is something I would watch out for, just in case.
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On 18/01/2019 at 15:15, Richard10002 said:
Sounds like you have committed to a dodgy estate agents agreement that you shouldn't have. Presumably it's a no sale no fee agreement with no minimum term. If so, I would sack them and get an agent where the fee is earned at exchange of contracts, which is something that is decided by you and not the agent.
Mine is a case of a sole agency, for which there is a lower fee, and being a complex sale, where the agent has to do a lot more work to sell the property - and can do so fairly safe in the knowledge they will be paid something for the effort and expenditure they incur .... albeit having to wait until completion to be paid.
The problem arises if a deal fails to materialise - perhaps in a case of offers not being enough (for all sorts of reasons) - after proper marketing - the client thus not accepting any - and deciding not sell.
This is when the small print of the RICS type contract becomes magnified .... especially in response to the blunt instrument of 'sacking.'
These things lurk in the background - but I don't know if this applies to boat sales.
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1 hour ago, Tacet said:
The issue at stake is whether the costs of arranging a sale are, in fact, borne by the purchaser or vendor. The largest cost or not usually being a broker's commission, but the principle includes placing a private ad or making a few phone calls.
Market Value is defined by the Royal Institution of Chartered Surveyors and International Valuation Standards Committee) as:
‘the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.’
Whilst it is an estimate, the figure does not change depending on who or how it is marketed because it is assumed to be after proper marketing. So a boat may have a Market Value £50,000. This requires proper marketing which we will take, for the moment, as being achieved by placing with a good broker who charges £3,000.
From the vendor's perspective, the £3,000 might include a free mooring, less hassle in viewing and travel and no other costs etc. Say, worth £1,500 to him or her. And, he feels that that he will get a better price as the purchaser may prefer to buy from a broker - viewings are easier, choice of boats, feeling of confidence over buying off-the-bank and awareness of probable competition from other buyers. If the boat had not been properly marketed, it might only achieve £48,000. Note this does not change the Market Value - as that assumes proper marketing, not a chance meeting with a bloke in a pub. So, in this example, the purchaser feels it will be £500 better off by using a broker.
Now there will be some people who consider they can undertake proper marketing themselves at little expense – and believe that a purchaser will not be bothered by whether there is a broker involved (or at least, not to sufficient extent). That’s why some people use brokers – and others do not.
In practice, what comprises proper marketing will vary. Using a broker to sell a tatty canoe will probably achieve little. And maybe an historic boat is best advertised amongst a smaller circle. But also maybe a reasonably conventional narrow boat is best advertised quite widely and through a broker. You decide.
Thanks Tacet.
A lot of useful background. To enlarge slightly on the RICS definition (from my current dealings with a house for sale) the basic criteria in the agent's contract is to find a buyer 'Ready, Willing and Able'.
Which in reality means I incur a fee based on the 'offer' price - that I will be expected to pay - even if the offer is a silly one and I refuse to accept it.
I appreciate it could degenerate into an argument over what is 'proper marketing' if it all falls through.
I don't know if this is the way brokers in boat selling work - but it is something to watch.
Where is it?
in General Boating
Posted
The place in this pic from cover of Waterways World email news letter looks familiar, I seem to recognise it, but can't quite place it.
Any ideas please?