Survey on a share boat ?????

[waterdog]

Hello,

 

We have been hirer's for quite some time and are considering buying into a share scheme now. I have done a bit of reading up and checking out the old threads on here.

 

An odd thought occurred to me ( I get lots of odd thoughts but that's another story), has anyone surveyed a boat before buying a share ?, what do you think would happen if an older share boat sprung a leak shortly after buying in? would you have more protection under a managed scheme like ABC etc.

 

Any other musings re share boats in general welcome, has anyone on here got a share for sale ?

 

Waterdog

 

 

[howardang]

Hello,

 

We have been hirer's for quite some time and are considering buying into a share scheme now. I have done a bit of reading up and checking out the old threads on here.

 

An odd thought occurred to me ( I get lots of odd thoughts but that's another story), has anyone surveyed a boat before buying a share ?, what do you think would happen if an older share boat sprung a leak shortly after buying in? would you have more protection under a managed scheme like ABC etc.

 

Any other musings re share boats in general welcome, has anyone on here got a share for sale ?

 

Waterdog

 

 

In case you haven't seen this site, you may find something of interest here, including some details of the ins and outs of share boating, both managed and self managed.

 

http://www.boatshare.co.uk/forsale/index.htm

 

Howard

[waterdog]

In case you haven't seen this site, you may find something of interest here, including some details of the ins and outs of share boating, both managed and self managed.

 

http://www.boatshare.co.uk/forsale/index.htm

 

Howard

 

Thanks Howard, been browsing through it this afternoon, quite like the look of "Shrewsbury"

[comfortably numb]

A management company won't cover you for anything that might go wrong after you've bought the share. Whether it is ABC, BCBM or whoever, their function is to look after the administration of the shared boat on behalf ofthe syndicate of owners. This can include advertising it for sale but because they don't own the boat they would not be accountable for anything that goes wrong with it.

[Mrs Trackman]

Yes.. RichardT on here has a share for sale in the boat that got us boating. For us it was a great experience and we learned a lot. And made new friends.

[Teadaemon]

Survey?

 

Sounds like a good idea to me.

 

Then again, I'm probably biased, being a surveyor.

 

Seriously, I know several people who have shares in boats, and as far as I'm aware, none of them thought it necessary to get a survey before buying. That's probably because the cost of a haul out and survey adds a lot on to the price if you're only buying a 1/12th share. That doesn't necessarily mean that it's not a good idea, just that it's an expensive one.

 

Having said that, if you're in the market for a share at the moment, then you could discuss things with the other owners or the management company - if the boat's going to be coming out of the water anyway for blacking/antifouling or other maintenance, then you could save a lot getting a survey done at the same time, or they may need one doing anyway for insurance purposes and be willing to split the cost with you (or indeed they may already have had one done recently, in which case buying a copy off the surveyor would be a lot cheaper than getting a new one done).

[joe1978]

Having purchased a share earlier this year the thought of a survey also crossed my mind.

 

I quickly discarded the notion though, my reasoning being if a survey plus slipway charges cost £700 you have peace of mind fair enough but that same £700 would be your contribution to a £8400 repair bill (based on the normal 12 share arrangement) and something would have to go pretty drasticly wrong on a well maintained share boat for a bill that size.

It is up to you of course but for me the maths were against it.

Joe

[waterdog]

Morning Guy's, thanks for the replies so far,

 

A management company won't cover you for anything that might go wrong after you've bought the share. Whether it is ABC, BCBM or whoever, their function is to look after the administration of the shared boat on behalf of the syndicate of owners. This can include advertising it for sale but because they don't own the boat they would not be accountable for anything that goes wrong with it.

Thanks Neil, another good point I hadn't thought about.

 

 

 

Yes.. RichardT on here has a share for sale in the boat that got us boating. For us it was a great experience and we learned a lot. And made new friends.

Thanks for the heads up, I have messaged Richard for more info. Looks like a nice boat.

 

Teadaemon & Joe, interesting thank you. I suppose the owners will have a fairly recent survey for insurance that should give some idea of the hull condition (if not why not !) . It would get pretty costly to survey every boat we were interested in.

 

Good point about the costs being shared Joe, when you look at it that way the outlay doesn't seem justified.

 

 

Thanks all

 

Waterdog

[Billw]

I bought a second share in a boat that I already had one share in. I knew that the boat is very well looked after and maintained but it is of course impossible to tell hull thickness, so during the time it was out for blacking had this checked. Fortunately it was fine so I went ahead and bought my second (1/6) share.

We have no management for the boat, organising things ourselves, and it works fine (the group has run for nearly 20 years now).

Incidentally there is a share for sale at the moment.

[waterdog]

I bought a second share in a boat that I already had one share in. I knew that the boat is very well looked after and maintained but it is of course impossible to tell hull thickness, so during the time it was out for blacking had this checked. Fortunately it was fine so I went ahead and bought my second (1/6) share.

We have no management for the boat, organising things ourselves, and it works fine (the group has run for nearly 20 years now).

Incidentally there is a share for sale at the moment.

Hi Bill,

Can you pm me some details about the boat and the share for sale.

 

Thanks

[ditchcrawler]

I bought a second share in a boat that I already had one share in. I knew that the boat is very well looked after and maintained but it is of course impossible to tell hull thickness, so during the time it was out for blacking had this checked. Fortunately it was fine so I went ahead and bought my second (1/6) share.

We have no management for the boat, organising things ourselves, and it works fine (the group has run for nearly 20 years now).

Incidentally there is a share for sale at the moment.

Would that be the something Fox?

[Billw]

Would that be the something Fox?

No, ours is named after a dog.