Hi all,
Myself and my girlfriend are in the process of buying a lovely 40ft narrow boat with the hope of making some changes to kit her out as a live-aboard.
We have found, viewed and expressed our interest to purchase, the boat so far. It's quite an old boat (1979 Hancock & Lane - Norseman (i think!)). Initially used as a holiday let, the boat has been with the same owner since 1992 and comes with a full service history (including photos and receipts of literally every change that's ever happened on it).
The boat itself is in pretty good condition. Internally, it's a little dated but all the electrics are working, all the furniture and fittings are made from solid iroko, it has working appliances and a separate shower room. Externally, the boat is fine. It could probably do with a repaint soon as it's beginning to look a little faded. The engine looks to be in immaculate condition and starts first time every time.
Now here's where the purchase becomes a bit of a potential gamble.
In terms of surveys, the last time a hull survey was undertaken was in May 2010, which i have read in full, indicating less than 1mm (of the 6mm plate) of wear across the boat in its entirety. The only minor point flagged up on the survey was some slight corrosion inside the hull, next to the weed hatch, as a result of water pooling that was left un-mended for some time. The issues has since been addressed and the corrosion treated.
The boat was blacked in 2010 and subsequently in 2013 and most recently, in May 2015.
It has a safety certificate until 2021.
We are intending to buy the boat without the condition that it passes a new hull survey. There's a few reasons we're taking this approach. Firstly, the boat is really quite cheap (about £10k), a hull survey could potentially add 15% onto the price of the boat, and i’m not sure we’d really be able to get a reduction in the price of the boat if works were necessary. Secondly, I am quite confident that the seller is genuine (he was very up front about all of the essential works that had taken place on the boat and was by no means doing the hard sell). Thirdly, we fully intend to carry out a survey at some point soon but simply can’t afford it at the minute and the condition of the boat, the fact it’s in water and not sinking at the minute and the included service history included put my mind slightly at ease. The opportunity to buy this boat seems to be a bit too good to pass up, but I appreciate, I am gambling on some important issues.
I guess I’m looking for some more experienced advice. Is this a silly approach? Is there anything I should really find out that I’ve missed above? Any help or advice would be most appreciated.
We’re due to pay the deposit tomorrow evening. I have a genuinely good feeling about the seller and fully believe his reasons for selling (back injury, which was quite apparent when he showed us the boat). Look forward to hearing any opinions on this
Many thanks,
Simon