Overplating!

[YSA]

Hey everyone, I'm interested to hear people's thoughts about previous pitting that's been dealt with, referred to in the survey that I saw when I bought the boat as overplating. It's well above the waterline and approx 5cm width and 90-100cm length.

 

I'm in the process of selling my boat and had completely forgotten it was on the survey I had seen when buying the boat. It was mentioned in my survey as 'historic pitting that needs to be kept an eye on'.

 

Would this decrease the boats value?

[rusty69]

I suppose it depends what depth of pitting it is into what thickness of steel, and how it was dealt with. 

 

Presumably you bought the boat knowing about the pitting and paid the price dependant on your findings at the time? 

[Tony Brooks]

2 hours ago, YSA said:

Hey everyone, I'm interested to hear people's thoughts about previous pitting that's been dealt with, referred to in the survey that I saw when I bought the boat as overplating. It's well above the waterline and approx 5cm width and 90-100cm length.

 

I'm in the process of selling my boat and had completely forgotten it was on the survey I had seen when buying the boat. It was mentioned in my survey as 'historic pitting that needs to be kept an eye on'.

 

Would this decrease the boats value?

 

However good or bad the pitting and metal thickness is, you can bet the buyer will use it to try to get a reduction, especially if they have it surveyed.

 

You should have data on your survey showing the depth and extent of pitting, any buyer's survey should have similar, so if someone decides to take the micky reduction wise ask to see his survey and compare the data. If it has not got significantly worse, I would tell them the sale is off.

[ditchcrawler]

2 minutes ago, Tony Brooks said:

 

However good or bad the pitting and metal thickness is, you can bet the buyer will use it to try to get a reduction, especially if they have it surveyed.

 

You should have data on your survey showing the depth and extent of pitting, any buyer's survey should have similar, so if someone decides to take the micky reduction wise ask to see his survey and compare the data. If it has not got significantly worse, I would tell them the sale is off.

I don't think the OP had a survey "in the survey that I saw when I bought the boat " it reads as if they saw someone else's survey 

[Tony Brooks]

Ah well, stand by for some cheeky offers.

[Ianws]

If @YSA hadn't seen that survey she would probably never have know about the pitting. Is she duty bound to declare it? Or is it up to a potential buyer, with or without a new survey,  to find it, if it's still an issue. 

[cuthound]

2 minutes ago, Ianws said:

If @YSA hadn't seen that survey she would probably never have know about the pitting. Is she duty bound to declare it? Or is it up to a potential buyer, with or without a new survey,  to find it, if it's still an issue. 

 

If (as I suspect) she is a private seller then it is "caveat emptor" (buyer beware), however if she is selling it as a business venture then she must truthfully answer any questions about condition.

[MtB]

30 minutes ago, Ianws said:

If @YSA hadn't seen that survey she would probably never have know about the pitting. Is she duty bound to declare it? Or is it up to a potential buyer, with or without a new survey,  to find it, if it's still an issue. 

 

No she isn't. The boat is presented for sale and typically inspection is invited so the potential buyer can satisfy themselves that the second hand boat is in a condition they are happy with. 

 

She IS however, duty bound to answer questions truthfully. If someone asks for example "Hey what do you know about all this patch of over-plating here?", she is should say what she knows and not lie. 

[LadyG]

3 hours ago, YSA said:

Hey everyone, I'm interested to hear people's thoughts about previous pitting that's been dealt with, referred to in the survey that I saw when I bought the boat as overplating. It's well above the waterline and approx 5cm width and 90-100cm length.

 

I'm in the process of selling my boat and had completely forgotten it was on the survey I had seen when buying the boat. It was mentioned in my survey as 'historic pitting that needs to be kept an eye on'.

 

Would this decrease the boats value?

The value, what is the value.

To me, you bought a boat and paid £X , now you want to sell it. 

I don't think I'd want an old rusty bucket but pitting above water, not the whole storyline 

1 hour ago, MtB said:

 

No she isn't. The boat is presented for sale and typically inspection is invited so the potential buyer can satisfy themselves that the second hand boat is in a condition they are happy with. 

 

She IS however, duty bound to answer questions truthfully. If someone asks for example "Hey what do you know about all this patch of over-plating here?", she is should say what she knows and not lie. 

If we take that to extreme, the buyer could ask about the price, Viz is it realistic or is it a scam?

Edited May 28, 2023 by LadyG

[Barneyp]

4 hours ago, YSA said:

........

Would this decrease the boats value?

Decrease the boats value compared to what?

Yes the boat is going to be worth a bit less than if it didn't have the pitting. If it hasn't got any worse since you purchased the boat it won't have any effect on the relative value.

[YSA]

Hi all, I've been honest with prospective buyers because I'd want the same. Thanks for your comments, I've had some offers in since posting and they're not far off what I wanted 🙂

[ditchcrawler]

1 minute ago, YSA said:

Hi all, I've been honest with prospective buyers because I'd want the same. Thanks for your comments, I've had some offers in since posting and they're not far off what I wanted 🙂

 

1 minute ago, YSA said:

Hi all, I've been honest with prospective buyers because I'd want the same. Thanks for your comments, I've had some offers in since posting and they're not far off what I wanted 🙂

Good luck with your sale