We're looking at buying a narrowboat (either a 57' or a 70'). She will be the largest purchase we'll ever make and the potential for things to go wrong is obviously pretty high - houses don't usually sink! I've also heard for example that the hull thickness must be at least 6mm for the boat to be insured - uninsurability would be a dealbreaker.
I'm given to understand that it's usual for a buyer to pay to have a complete, out-of-water, pre-purchase survey done on the boat before handing over the money. This raises a LOT of questions for me! I'm hoping that someone with experience in buying a narrowboat and having a pre-purchase survey done can explain the procedure and etiquette to me.
Say I've found a narrowboat on Gumtree, last survey 2+ years ago, whose owners are currently living on her, and we've agreed on a price conditional on a survey.
1. Does the buyer or the seller usually arrange the survey, choose a surveyor, and a survey location/time?
2. Does the buyer pay the surveyor directly?
3. Does the seller transport the boat to the location and will they move off the boat while the boat lifted out of the water and is being surveyed?
4. If problems are found (and a few surely will be) would it be usual to re-negotiate the price? Meet halfway on the costs?
5. What if someone else is interested in the boat and (say) are willing to buy her without having a survey done? Will they be able to undercut us or put in an offer?
6. What if we can't agree on a price after having done the survey? It seems I'm in a position here where I've lost the money I spent on the survey. Will the next potential buyer get the benefit of my survey without having to pay for it?
7. If we do buy the boat and say it needs some work - blacking or (God forbid) overplating - would we have this done there and then at the place of survey (save on costs)?
8. Would the process differ if we buy from a marina rather than a private seller?
I know these questions are all kind of situational and would probably be part of the negotiation between buyer and seller. If there is a "general" or "usual" procedure to follow though, I'd like to hear about it so I don't insult the seller with my hesitation. I'd at least like to hear some anecdotes from people who have been through the process of surveying a boat they don't yet own. Thanks!
