The tale of a dishonest boat broker…. SR 360 DA !

[Mathieu Imbert]

Upon my great disappointment, time and expenses I had to walk away from our deal to upgrade to a 2005 360 DA this morning!

The boat:
2005 Sea Ray 360 Sundancer with Yanmar diesel engines
Hull: SERF0653E505
The seller broker: Jim XXXXXX

Historical
Vessel was sold to the current owner in 2019 by Jim XXXXX.

The sell speech from the broker:
Perfect condition! just need minor cosmetic work due to lack of use
Engines in great working condition, recently serviced!
the seller is apparently the seller is disabilitated and the broker is making all the calls solely.
its clear that he has severely misrepresented the vessel with his ever changing story and excuses....

The survey:
Unfortunately, the vessel did not survey very well at all... engine overheat within 10 min, drop in voltages, various alarms were ringing during the whole sea trial (which was cut short due to the engine overheat)

Major oil leak coming from the starboard engine, water intrusion from the rudder and prop shaft (no back up seal on either) the bottom requires strip and paint.

The oil samples reveled high content of cooper & aluminum and water in the engines and generator which does not power on. The coolant reveled high level of corrosion, no sign that zinc we replaced in the last 2 years.

The mechanics suggest based on the condition and color of the coolant, chances you have to replace aftercooler, oil cooler is very high!

He quoted $10k of repairs for just the engines! 18k if coolers have to be replaced!

This is in addition of the need to replace all electronics, Radar, autopilot, GPS are all INOP!

Refrigerator, ice maker is INOP! The seller replaced 2 out 4 batteries with AGM/ACID!!!
The battery charger is only rated for Acid and was pegged out at +40 amps when just using the light, full wax job, full bottom job, carpet replacement …. The above is just the major point its missing all the small items such as INOP lamps, bilge pump, drains, upholstery ….



The back-and-forth post:
Upon this unfortune discovery, we returned to the seller and informed him of the findings and estimate… and offered him to deduct $10k from the vessel price to account for the mechanical issues and as previously agreed he would be responsible to complete the repair of the generator.

He countered 9k off, as is where is!

Including the generator repair the mechanics believe there is about 20-25k of engines repairs


What do you think? I m right to walk away or mistake its worth it
Take a look at the pics not the best quality but I think you get a pretty good idea ...
VOTE BELOW !

 

[ocgrant]

Run... That thing is worked over. Looks like a typical Florida boat that was used and abused and left to rot.

 

[RollerCoastr]

I’m surprised you even did a sea trial after a visual inspection. You took a ride on a vessel that could’ve easily left you stranded or worse, and then you took fluid samples and tried to negotiate??

 

[CaptRonn]

Shocked!!!! A dishonest broker!!

Say it isn't so!!!!

 

[Timeflys]

I voted to run even before I saw the pics....what a mess...the carpet, shower sump, window leak and starboard wiper say a lot about your “broker”...There have to be better boats on the market.
Is the boat in FL? I see green trees in one of the pics...definitely not short sleeve weather for WI in December.
Just curious, what was the asking price?

 

[northern]

We looked at 3 boats in Florida. Low price equal lots of work. One boat was only polished on the side it was tied to dock. One boat had engines secured to stringers with lag boats. One boat was all taken apart.

 

[Mathieu Imbert]

for sure not Wi ! it is a Florida boat

I looked at the vessel prior to making the offer to which we deducted 15% from the ask to account for all the small issues. the broker stated recent service and sea trial, so no issues in our mind to put it under contract and sea trial... I was wrong as water was coming in !
I mean at any minute the seal could go and the boat would sink !

 

[Mathieu Imbert]

I voted to run even before I saw the pics....what a mess...the carpet, shower sump, window leak and starboard wiper say a lot about your “broker”...There have to be better boats on the market.
Is the boat in FL? I see green trees in one of the pics...definitely not short sleeve weather for WI in December.
Just curious, what was the asking price?

the ask was $110k

 

[Golfman25]

If you want a project, offer $25,000. Otherwise run. And realize it won’t be the last. Good luck.

 

[techmitch]

the ask was $110k

Up your budget a notch and buy Franks boat.

http://www.clubsearay.com/index.php?threads/immaculate-450da-now-for-sale.101339/

 

[Riptide III]

Electrical shorts. Stained carpet. Mold. This sounds like a partial sinking. Freakin run. Or or give him $30,000. With the understanding you will be chasing problems, mainly electrical for the rest of your ownership.

 

[sfergson727]

Did that boat sink previously?

 

[El Capitan]

I just don’t understand how this decision isn’t crystal clear.

 

[Spark600]

Just three weeks ago I look at a 2014 SR DA 410 that was owned by Marine Max, they assured me that it was a pristine boat with all the surveys done motors and boat. Before we did the virtual inspection the broker said the water and electric is turned off so it might be a little dirty but the boat will be detailed when you took it.
During the virtual inspection I noticed a little mold on the backward facing seat over swim platform as well as from water in the bilge, As part of the deal they had to re skin that seat and were going to look into seeing why there was water in the bilge
A week later after the broker assured me that it was a pristine Marine Max certified boat we drove five hour to the boat.

We meet the broker and he walked us down to the boat, This was the only boat left in the water so we can do a sea trial.
As I got closer to the boat I can hear water running and I ask the broker all the water and electric is turned off so it cant be the A / C and he said it was the bilge pump, He said he turned it on before we get there.
So the first thing I did was to open the day hatch to look inside the engine room and to my surprise there was 1' of water with diesel fuel floating on top.
I just shook my head and looked around the cockpit real quick and then headed down to the cabin and looked around, I saw a water stain on the kitchen wall and followed it up the the ceiling to see a 3' x 4' water stain with mildew on it.
I lost it and went up to the cockpit and asked the broker this is a Maine Max certified boat and he said yes, I told him I just drove 5 hours to be on this boat 10 minutes.
I said I saw some mold on the back seat and made marine max re skin it as I could not look at that all summer, And you thought I was going to take it with a 3' x 4' stain in the cabin.
I was so pissed I want to the broker in the water for lying.

And to make it worse when we were getting in the car some guy that worked there said how did you like the boat and I said There is a water leak and he said the stain above the couch, So everybody knew about the leak.

Then on the way home the broker called me and said I guess you want your deposit back, All I did was laugh.

 

[sws01]

Upon my great disappointment, time and expenses I had to walk away from our deal to upgrade to a 2005 360 DA this morning!

The boat:
2005 Sea Ray 360 Sundancer with Yanmar diesel engines
Hull: SERF0653E505
The seller broker: Jim XXXXXX

What do you think? I m right to walk away or mistake its worth it
Take a look at the pics not the best quality but I think you get a pretty good idea ...
VOTE BELOW !

Is this post for real? When exactly did the boat sink and when was it salvaged? First off, the 2020 PowerBoat Guide has the diesels at low retail of $91 large and high retail of $110 large, What was the surveyor's estimate of current market value?

Second, the current owner is clearly having buyer's remorse (and rightly so) - very few boats like this are sold after only 1 year ownership. Meanwhile, the broker is just as happy to take current owner's commission as he was the owner who sold in 2019.

Did you get to see the receipts from the shop where the "recent" service was supposedly done?

Also, if the mechanics say it will take $20-25 large for all the work, better figure on about twice that.

With the serious deficiencies you mention, like inop bilge pumps, overheating engine, water intrusions, flaky electrical system, etc., I'm surprised the surveyor didin't condemn the vessel..

And if both engines must be replaced after unsuccessful repairs, you'll end up spending on just new engines what you spent to purchase that jewel.

If you're going to move it somewhere other than where it is now, figure on $10 - $20 large just on shipping costs if overland. If on its own bottom, you'd better get the deficiencies corrected and thoroughly "shaken down" before you head out.

Forget "Run, Forest, Run"; this sounds more like it deserves Pink Floyd's "Run Like Hell"

Just remember: Boating can make you a millionaire . . . . if you start out as a billioniare...

 

[Carver370]

Its never good when anyone is dishonest about anything, but just looking at the pictures of that boat online as advertised I wouldn't have been placing an offer on it unless it was deeply discounted. There is some serious neglect and who knows what else going on there.

 

[dwna1a]

Up your budget a notch and buy Franks boat.

http://www.clubsearay.com/index.php?threads/immaculate-450da-now-for-sale.101339/

Completely Agree!

 

[Golfman25]

I guess I can't understand why a broker wouldn't "survey" his own listings. The time they waste showing people garbage boats at unrealistic prices would more than make up for a few hours checking everything out so they know whether the boat is even worth their time. You get the same money (pct) for selling a nice boat in working order with no hassels that you do putting up with a bunch of BS on a crappy boat.

 

[stephens013]

Got the 510 last year thinking everything was pretty much squared away. Turned out not so much. Wish I could have purchased Franks machine.

 

[Mathieu Imbert]

Up your budget a notch and buy Franks boat.

http://www.clubsearay.com/index.php?threads/immaculate-450da-now-for-sale.101339/

Look really nice ! And would be perfect for my current needs unfortunately not only past my budget but also size wise...