Buying without a survey

[Tracy D'arth]

Craftinsure will do it on line instantly.

 

You can pay by multiple bank transfers or £10,000 a time but the banks don't really like it.

[peterboat]

1 hour ago, mrsmelly said:

Never had a survey, never would. We are all different, how do you handle risk?

My first boat had a selling survey and blacking, it was an ex share boat from evesham they were selling lots of them at once. It was out of water and I had a good luck at it after it had been steam cleaned. The survey got main points but missed other stuff.

If I had had to pay I wouldn't have had one done as the mark one eyeball worked fine.

My second boat no survey just over a year old why would you? Respected hull maker and fit out pointless doing one.

[mrsmelly]

21 minutes ago, Tracy D'arth said:

 

 

You can pay by multiple bank transfers or £10,000 a time but the banks don't really like it.

Indeed. My last sale in 2021, the buyer sat on my boat and did several 10k at a time payments it took about ten minutes. I then logged on to my bank and there it was. He had been in to his bank and said he would do it that way.

[Alan de Enfield]

40 minutes ago, Barneyp said:

It's £30,000+, cash isn't an option - you won't be able to withdraw that amount and the seller will struggle to pay it in without providing proof it is from a legitimate source.

 

People keep telling me its not possible, but I have proven (several times,and for far larger sums) that is is possible, and, I am not the only one.

 

The seller will have a bill of sale for the boat, showing the amount, so that is evidence of where, and from whom, the money has come from, - why try and make something into a problem when it clearly isn't.

Edited February 11, 2023 by Alan de Enfield

[mrsmelly]

4 minutes ago, Alan de Enfield said:

 

People keep telling me its not possible, but I have proven (several times,and for far larger sums) that is is possible, and, I am not the only one.

 

The seller will have a bill of sale for the boat, showing the amount, so that is evidence of where, and from whom, the money has come from, - why try and make something into a problem when it clearly isn't.

I too have paid with large amounts of cash, however, these days the banks have most people stitched up and are clamping down more. It is though still possible to use cash and its certainly still King 😀 Its annoying that we have to prove where we get it from. I had to prove where I got my money from when I bought this house, what a load of nonsense.

[Alan de Enfield]

6 minutes ago, mrsmelly said:

I too have paid with large amounts of cash, however, these days the banks have most people stitched up and are clamping down more. It is though still possible to use cash and its certainly still King 😀 Its annoying that we have to prove where we get it from. I had to prove where I got my money from when I bought this house, what a load of nonsense.

 

I've been with the same bank, AND the same branch for 57 years - if they want to see where the money has come from all they need to do is look back thru my transaction history, or simply look at the bill of sale for the boats. Its all there for them as need to see it.

[Jon57]

1 hour ago, Alan de Enfield said:

 

 

Always be careful of a guy who knows a friend who can carry stuff for you.

 

Is he insured to lift and carry boats ?

Is he 3rd party insured to C&RTs satisfaction to drive along side the canal ?

Will he prepare a method statement for C&RT having assessed the structural strength of the canal wall ?

 

 

An inexperienced crane driver doing a 'quick canal job' ? What can possibly go wrong ?..................................

 

 

I'm sure the owner will be aware of the pitfalls of this. 👍

[Jon57]

1 hour ago, Barneyp said:

It's £30,000+, cash isn't an option - you won't be able to withdraw that amount and the seller will struggle to pay it in without providing proof it is from a legitimate source.

Best way will be a bank transfer, if you have Internet/mobile banking speak to your bank to make sure they will be ok with such a large transaction. 

It will be as safe as it is now.

The marina might charge you, or it might be covered by the existing owners notice period.

Either way take out insurance as soon as you complete the purchase.

Crt Mooring in brighouse basin. 

All boats removed atm while new pontoons go in. 

[Jon57]

24 minutes ago, Alan de Enfield said:

 

People keep telling me its not possible, but I have proven (several times,and for far larger sums) that is is possible, and, I am not the only one.

 

The seller will have a bill of sale for the boat, showing the amount, so that is evidence of where, and from whom, the money has come from, - why try and make something into a problem when it clearly isn't.

The sellers is in his late 60s. Don't think he would be comfortable with cash. It could hamper the sale. 🤔🤔

[Alan de Enfield]

6 minutes ago, Jon57 said:

The sellers is in his late 60s. Don't think he would be comfortable with cash. It could hamper the sale. 🤔🤔

 

I accept that everyone is different but my 'peer group' (late 60s - 70s) would generally be far from 'uncomfortable' with cash.

Cash was king and we were in the age well before credit and debit cards, BACS etc.

 

If you couldn't afford something you didn't buy it, or, you saved up until you could afford it.

[Jon57]

6 minutes ago, Alan de Enfield said:

 

I accept that everyone is different but my 'peer group' (late 60s - 70s) would generally be far from 'uncomfortable' with cash.

Cash was king and we were in the age well before credit and debit cards, BACS etc.

 

If you couldn't afford something you didn't buy it, or, you saved up until you could afford it.

Same here. But walking around with mobility issues with £30000 cash isn't wise for the seller. 

[mrsmelly]

27 minutes ago, Alan de Enfield said:

 

I've been with the same bank, AND the same branch for 57 years - if they want to see where the money has come from all they need to do is look back thru my transaction history, or simply look at the bill of sale for the boats. Its all there for them as need to see it.

Its the stoopid solicitors rules innitt. Buying the last couple of houses with cash I had to prove where I got it from, bloody stoopid. Society doesnt like people who pay their way, they want everyone to be in deb to to a bank with mortgages, HP, cars on leases etc etc etc.

[Barneyp]

40 minutes ago, Alan de Enfield said:

 

People keep telling me its not possible, but I have proven (several times,and for far larger sums) that is is possible, and, I am not the only one.

 

The seller will have a bill of sale for the boat, showing the amount, so that is evidence of where, and from whom, the money has come from, - why try and make something into a problem when it clearly isn't.

Are you really saying you walked into your bank and asked to withdraw in excess of £30,000 and they handed it over? Most banks don't have that amount of cash on hand ready to dispense, and they would prefer you to do it electronically (cheaper for them) so will try and persuade you to do a transfer.

 

I'm guessing if you've been at the same branch for 57 years (and I think have a business account as well) they may well ask you less questions if you turn up with a large amount of cash to pay in, not everyone is in your position.

 

If I was selling a boat for that sort of money I wouldn't like the idea of cash, just counting it to check it's the correct amount would take time and there is the possibility of forgeries or robbery, for me and a lot of other people an instant bank transfer would be the best (and possibly only acceptable) method of payment.

[Barneyp]

5 minutes ago, mrsmelly said:

Its the stoopid solicitors rules innitt. Buying the last couple of houses with cash I had to prove where I got it from, bloody stoopid. Society doesnt like people who pay their way, they want everyone to be in deb to to a bank with mortgages, HP, cars on leases etc etc etc.

Not sure it as much about wanting you to be in debt, it's partly for the valid reason of making it harder to launder money from illegal activities or to avoid paying tax, and partly because the more you do digitally the more information they can collect on you to sell to marketing companies.

[Alan de Enfield]

3 minutes ago, Barneyp said:

Are you really saying you walked into your bank and asked to withdraw in excess of £30,000 and they handed it over? Most banks don't have that amount of cash on hand ready to dispense, and they would prefer you to do it electronically (cheaper for them) so will try and persuade you to do a transfer.

 

I bet they do - it is only 30 bundles.

 

 

3 minutes ago, Barneyp said:

I'm guessing if you've been at the same branch for 57 years (and I think have a business account as well) they may well ask you less questions if you turn up with a large amount of cash to pay in, not everyone is in your position.

 

Yes I have a business account but not with the same bank, or even with the same 'family group' of banks that work together.

 

 

But each to their own - but its just 'not right' when folks say it cannot be done.

 

If you have problems withdrawing it - you know you are going to buy a boat, so just get £5k or £10k out every other weeks for a few weeks and,  there you have it.

[Jon57]

22 minutes ago, Barneyp said:

Are you really saying you walked into your bank and asked to withdraw in excess of £30,000 and they handed it over? Most banks don't have that amount of cash on hand ready to dispense, and they would prefer you to do it electronically (cheaper for them) so will try and persuade you to do a transfer.

 

I'm guessing if you've been at the same branch for 57 years (and I think have a business account as well) they may well ask you less questions if you turn up with a large amount of cash to pay in, not everyone is in your position.

 

If I was selling a boat for that sort of money I wouldn't like the idea of cash, just counting it to check it's the correct amount would take time and there is the possibility of forgeries or robbery, for me and a lot of other people an instant bank transfer would be the best (and possibly only acceptable) method of payment.

Once sold a merc van many years ago. Guy turned up with a carrier bag of readies. He wasn’t pleased when it took me over a hour to count it and check for counterfeit notes. Happy days.🤣

[mrsmelly]

3 minutes ago, Jon57 said:

Once sold a merc van many years ago. Guy turned up with a carrier bag of readies. He wasn’t pleased when it took me over a hour to count it and check for counterfeit notes. Happy days.🤣

 There are only 3 takeaways on my street. An Indian, a chinese and a kebab/pizza place. All independantly owned. All 3 are cash only 🤑 All 3 are usualy busy.

[Alan de Enfield]

28 minutes ago, mrsmelly said:

 There are only 3 takeaways on my street. An Indian, a chinese and a kebab/pizza place. All independantly owned. All 3 are cash only 🤑 All 3 are usualy busy.

 

Our 'main' business was cash only (before we retired and closed it) and, being a 'business account' it was very expensive to actually deposit 'your own money' into 'your bank account', from memory it was about 1.5%, so every couple of weeks when we took (maybe £10k-£20k cash) to the bank we were charged £150-£300 to deposit it. But - it was far less than being hit with credit card charges.

 

The cost of depositing a cheque was £0.70 irrespective of the value, so it would not be unkonown for me to deposit a bit of cash in my personal bank account and them write a cheque to the company - the company then paid only 70p to deposit it rather than £300.

 

People who have never run a company do not understand the complexities.

[Momac]

The survey on my first boat was worthless and included errors.

 

On the other hand the survey on my second boat revealed a fault that cost £4k to fix plus a number of small faults . That cost was deducted from the price I paid .

The surveyor didn't miss a thing including several electrical faults .

 

[Alan de Enfield]

3 minutes ago, MartynG said:

The survey on my first boat was worthless and included errors.

 

On the other hand the survey on my second boat revealed a fault that cost £4k to fix plus a number of small faults . That cost was deducted from the price I paid .

The surveyor didn't miss a thing including several electrical faults .

 

 

 

That is the major issue I have with surveyors - there is no central system co-ordinating their training or skills level - in fact you don't even need any qualifications to call yourself a surveyor.

 

You can get an excellent one, or it can be a total waste of time and money. Unfortunately you dont know which you have had until you've paid his bill and used the boat for a few weeks.

[MtB]

38 minutes ago, Alan de Enfield said:

 

 

That is the major issue I have with surveyors - there is no central system co-ordinating their training or skills level - in fact you don't even need any qualifications to call yourself a surveyor.

 

You can get an excellent one, or it can be a total waste of time and money. Unfortunately you dont know which you have had until you've paid his bill and used the boat for a few weeks.

 

 

Not only that but I suspect the same surveyor can inspect one boat and successfully catch/identify everything wrong with it, but look at another on a different day and miss several critical faults.

 

And in addition, some faults are a matter of opinion. Boat buyer "A" might consider say, a bit of dezincification in something brass somewhere a critical oversight, but boat buyer "B" might not care a jot. 

 

 

 

 

[Mac of Cygnet]

The fact that a load of work has just been done on the boat by Shire Cruisers would reassure me, especially with regard to the hull and engine.  They would certainly have picked up on anything amiss.  You could ask Nigel Stevens for his opinion but I wouldn't blame him if he didn't want to give it - it would put him in a rather invidious position.

[Barneyp]

2 hours ago, Alan de Enfield said:

 

I bet they do - it is only 30 bundles.

 

 

 

Yes I have a business account but not with the same bank, or even with the same 'family group' of banks that work together.

 

 

But each to their own - but its just 'not right' when folks say it cannot be done.

 

If you have problems withdrawing it - you know you are going to buy a boat, so just get £5k or £10k out every other weeks for a few weeks and,  there you have it.

The OP is planning to view and hopefully purchase the boat in the next day or so, which is why I said cash wasn't an option. Yes, with time the cash could be ordered or withdrawn in smaller amounts.

[Alan de Enfield]

4 minutes ago, Barneyp said:

The OP is planning to view and hopefully purchase the boat in the next day or so, which is why I said cash wasn't an option. Yes, with time the cash could be ordered or withdrawn in smaller amounts.

 

Ok, if he has just made a spur of the moment decision to buy a boat that that's completely understandable.

 

Wish him luck.

[Laurie Booth]

22 hours ago, Barneyp said:

It's £30,000+, cash isn't an option - you won't be able to withdraw that amount and the seller will struggle to pay it in without providing proof it is from a legitimate source.

Best way will be a bank transfer, if you have Internet/mobile banking speak to your bank to make sure they will be ok with such a large transaction. 

It will be as safe as it is now.

The marina might charge you, or it might be covered by the existing owners notice period.

Either way take out insurance as soon as you complete the purchase.

You can withdraw any amount from a bank if you have the funds and give them notice.