Before the survey happens, the buyer puts an offer on the boat. This is usually a technicality because the buyer adds language to the contract stating that it’s dependent on the survey. If it’s a boat, they’re going to find something in the survey so you have an out but with that said, you’r not likely to sign up for a costly survey if you’re not 95% on board with buying the boat.
As I wrote in my previous post, the survey came back relatively clean. There are some items to be addressed like painting the hull, replacing the batteries, and fixing the battery charger among other maintenance items but nothing too unexpected. With the write off from the surveyor that the boat from his eyes was not a lemon and structurally sound, I offered the seller a slightly reduced offer to address the issues. We eventually came to a deal and I now own a 1977 thirty-two foot Challenger Sailboat.
It’s the most money I’ve spent on something in my life and it’s not any more than a used car someone might buy. The final price we agreed to was 10,500 dollars. When I started to think about sailboats, I thought they were a lot of money, and they can be but I’ve learned it’s a lot about what a buyer desires in a boat and where they live that affects the price the most. Do I want a huge boat? Do I want my apartment but replicated on water? I wasn’t looking for that and fortunately in the Bay, there is a wide range of sailboats to fit whatever your needs.
I’m hoping to put together together a video tour of the boat as it is right now before I start to restore this beauty. I just find making videos daunting, even more than blog posts. I hope you continue to follow this journey wherever it may lead. This new project is exciting, now if I can only find the time to be on it.
Feel free to post comments or questions down below!