What Happens Now?

Misterhelms

Misterhelms

Active Member
Jul 5, 2020
104
Monmouth Beach, NJ
Boat Info
2004 Sea Ray 340 DA
Engines
8.1s Mercruiser
I just completed and received the surveyors write up on a 2007 Sea Ray 340DA. It was listed at $99,500 and we agreed to a $97,500 price. Seller had invoices for all repairs and service. In the spring he had the bottom painted and zincs replaced. Stereo and GPS/Radar were recently upgraded to GPSmap 7610 and Fusion MS-UD650. The seller was also including a Highfield CL310. This is a v-drive with 8.1s and about 890 hours on the engines. Compression test was also provided showing positive results.

My first question has to do with price - the surveyor put in his notes that the boat should sell on average around $95k. Is this something that is typical for a surveyor to list? Should I be concerned with financing and/or insurance and is this something that gets re-negotiated?

Based on the surveyor's findings, the risers and manifolds need to be replaced due to overheating, and the Kohler generator was spewing out water due to an apparent rusted out freeze plug. Based on the broker, it sounds like the seller is willing to address these issues, which is great because I had serious concerns about purchasing a boat and not knowing the condition of the risers and manifolds.

There were some minor issue found as well -
  • Moisture in the swim platform due to brackets on the mount for the dinghy. (Somewhat concerning. Seems they were not caulked very well. Will probably have to find a new mount as the dinghy sits up perpendicular on its side and creates extra drag.
  • Chips in gelcoat by anchor
  • 25 lbs anchor - Surveyor recommends larger for this size of boat
  • 4 inch crack in fiberglass by on aft bottom port side of helm seat
  • Bad GFCI receptacle in head
  • Minor cracks in helm gauges
This is my first used boat purchase and obviously want to make sure I am doing my due diligence. As long as the buyer is going to address the main issues with heat exchanges and generator should I be concerned about anything else? Should I push to have the "minor" issues addressed as well, or discount on the price? Don't want to nit-pick, but also don't want to lay down.

Also, when do I send a copy of the report to the seller's broker? The surveyor still has to come back out to do the engine diagnostics.

Appreciate any advice for a very green buyer. Thanks !
 
Ok, so the surveyor's value is just his opinion. I think it's close enough to the purchase price that you shouldn't have difficulty with financing or insurance.

If the current owner is willing to do the risers/manifolds and the generator issues, that is a big win for you. That's probably a couple thousand $ right there.

The minor issues are just part of owning an older boat. You can ask for repair, but I am not sure they are deal killers if the seller refuses.

I kind of use $1000-$1500 as a standard of what to get fixed by seller and what do do myself. Although, I had a boat surveyed last year that had a laundry list of minor issues. Problem is they added up to $5000-$6000 dollars of repairs. I asked for a few bucks to repair props, which was a surprise when we pulled the boat for survey. Broker balked, seller balked, and I had had enough of their BS, so I walked.
 
Golfman25 said:
Ok, so the surveyor's value is just his opinion. I think it's close enough to the purchase price that you shouldn't have difficulty with financing or insurance.

If the current owner is willing to do the risers/manifolds and the generator issues, that is a big win for you. That's probably a couple thousand $ right there.

The minor issues are just part of owning an older boat. You can ask for repair, but I am not sure they are deal killers if the seller refuses.

I kind of use $1000-$1500 as a standard of what to get fixed by seller and what do do myself. Although, I had a boat surveyed last year that had a laundry list of minor issues. Problem is they added up to $5000-$6000 dollars of repairs. I asked for a few bucks to repair props, which was a surprise when we pulled the boat for survey. Broker balked, seller balked, and I had had enough of their BS, so I walked.
Click to expand...
Yes - I'm very happy about the risers/manifolds and generator. Didn't know what would be appropriate past those items.
 
I did risers and manifolds on (one engine) our old boat last year before selling it. It had the sterndrive version of the engines on your boat, so some slight differences, but the bill was $ 4000.00, so you are getting an $ 8000.00, or so in round numbers, concession. A Highfield CL-310 sized dinghy even without a motor, and the least expensive fabric has a $3400 replacement cost. With a 20 hp motor that gets pushed up over $10K.

As for the rest, the swim platform situation is a common issue, and is a matter of degree, but that said, It is correctable. If you do a search you'll probably find several threads from folks who currently have the same issue.

It sounds like the boat is reasonably priced, and while a bank may ask for a copy the inclusion of the dinghy and repairs supports that point. I would not make any decisions or agreements until you know the outcome of the engine survey because there could be issues that are unseen now.
 
Henry Boyd said:
I did risers and manifolds on (one engine) our old boat last year before selling it. It had the sterndrive version of the engines on your boat, so some slight differences, but the bill was $ 4000.00, so you are getting an $ 8000.00, or so in round numbers, concession. A Highfield CL-310 sized dinghy even without a motor, and the least expensive fabric has a $3400 replacement cost. With a 20 hp motor that gets pushed up over $10K.

As for the rest, the swim platform situation is a common issue, and is a matter of degree, but that said, It is correctable. If you do a search you'll probably find several threads from folks who currently have the same issue.

It sounds like the boat is reasonably priced, and while a bank may ask for a copy the inclusion of the dinghy and repairs supports that point. I would not make any decisions or agreements until you know the outcome of the engine survey because there could be issues that are unseen now.
Click to expand...
Thanks Henry!
 
Bear in mind that this is almost a 15 year old boat. Expecting the owner to fix everything you find is unreasonable, irrespective of your repair budget, unless it affects the seaworthiness or safety of the boats occupants. The seller is going way beyond the norm by replacing risers/manifolds and genset freeze plug. An experienced buyer would have forced you to reject the boat based on the survey then negotiated those repairs based on the fact that that he would be "gifting" you about 15 years on a new set of exhaust castings. He could then re-offer the boat for sale at a higher price and perhaps force you to start your search all over again.

I wouldn't over-play my hand and shoot myself in the foot while trying to squeeze the last $$ out of a decent deal on a good boat. However, safety and seaworthiness are always fair game for negotiation .........I wouldn't want to get caught out in a blow with an anchor that won't hold. So, ask the seller to replace the anchor or allow you about $250 toward a new one (Fortress aluminum ), get the offer for new risers and manifolds written inept the contract, and move on down the road toward owning a cool cruiser in better then average condition.

Just so you know, Sea Ray carefully mates the anchor, the anchor chute and the windlass to the bows on their boats. If the anchor on this boat has been chipping at the gelcoat on the bow, then I suspect the original anchor was lost a replaced by a non OEM size/design or the owner was just not careful.

Good luck with it.........
 
When I purchased my 2000 400DB there was quite a "laundry list" of issues from minor to semi-major items. The buyer had a $ amount limit. I sorted the list by operational, safety, Coast Guard requirements vs cosmetic/convenience. The buyer agreed with my assessment and fixed what was needed (Alternator, horn and a few other items) without regards to the cost. I let things like cabinet locks, interior lights and lens covers and new sliding door lock go for my upgrades.
 
fwebster said:
Bear in mind that this is almost a 15 year old boat. Expecting the owner to fix everything you find is unreasonable, irrespective of your repair budget, unless it affects the seaworthiness or safety of the boats occupants. The seller is going way beyond the norm by replacing risers/manifolds and genset freeze plug. An experienced buyer would have forced you to reject the boat based on the survey then negotiated those repairs based on the fact that that he would be "gifting" you about 15 years on a new set of exhaust castings. He could then re-offer the boat for sale at a higher price and perhaps force you to start your search all over again.

I wouldn't over-play my hand and shoot myself in the foot while trying to squeeze the last $$ out of a decent deal on a good boat. However, safety and seaworthiness are always fair game for negotiation .........I wouldn't want to get caught out in a blow with an anchor that won't hold. So, ask the seller to replace the anchor or allow you about $250 toward a new one (Fortress aluminum ), get the offer for new risers and manifolds written inept the contract, and move on down the road toward owning a cool cruiser in better then average condition.

Just so you know, Sea Ray carefully mates the anchor, the anchor chute and the windlass to the bows on their boats. If the anchor on this boat has been chipping at the gelcoat on the bow, then I suspect the original anchor was lost a replaced by a non OEM size/design or the owner was just not careful.

Good luck with it.........
Click to expand...
The anchor is making me curious - it's a 25lbs Delta. When looking at the Fortress, for the length of a 340 it's recommending the FX-16, which weighs 10lbs and replaces a 14-18lbs steel anchor. Maybe it doesn't need to be replaced?
 
Fortress anchors are deceptive in their holding strength. I regularly use one for a stern anchor on a 450DA and it has never pulled loose or even slipped out of the bottom and reset itself.

I also use an FX-37 bow anchor when the original factory anchor was a 45# Danforth, and again it has never slipped out or repositioned.

The choice of anchors depends a lot on the type bottom you anchor over. We are in NW Fla on the Gulf Coast with a generally clean sandy bottom and nothing hols here like a Fortress.

The anchors are not the subject of this thread and may not be important depending upon your planned use of the boat. I must admit some curiosity about the gelcoat scratches around your anchor......if the Delta is a stock anchor, the answer may be just a case of the owner retrieving the anchor too quickly and it flopping over and striking the hull.
 
I have the same boat. This is a great boat.
You should not need new risers, since they are stainless, but the value of the manifolds is $4,000 in parts alone. And you will sleep way better knowing it is done.
By the way, the stock setup of these boats was a 25 lb Kodiak plow, 25' of HT 5/16" chain and 200' of 5/16" rope. While your surveyor may be right and an upgrade might make sense, it is possible the kit is just the stock kit. May not be an easy negotiation point.
My advice would be to ensure that the manifolds and gen drain is written into the agreement (subject to an inspection once the work is done), and negotiate the swim platform re-seal work and gel coat chips work (perhaps $500).
The other items are minor (considering the boat is 13 years old) and can be easily corrected. As you correct those items, you will get to know the boat better anyway.
Best of luck!
 
Tacoma290 said:
I have the same boat. This is a great boat.
You should not need new risers, since they are stainless, but the value of the manifolds is $4,000 in parts alone. And you will sleep way better knowing it is done.
By the way, the stock setup of these boats was a 25 lb Kodiak plow, 25' of HT 5/16" chain and 200' of 5/16" rope. While your surveyor may be right and an upgrade might make sense, it is possible the kit is just the stock kit. May not be an easy negotiation point.
My advice would be to ensure that the manifolds and gen drain is written into the agreement (subject to an inspection once the work is done), and negotiate the swim platform re-seal work and gel coat chips work (perhaps $500).
The other items are minor (considering the boat is 13 years old) and can be easily corrected. As you correct those items, you will get to know the boat better anyway.
Best of luck!
Click to expand...
Appreciate the insight. I thought I read somewhere that the risers needed to be changed every 12-15 years for stainless? The boat is kept on brackish water so it's got some exposure to salt water.
 
Life on the riser is so dependent on local water, how long the boats sit idle, and flushing.
My boat has spent its entire life moored in Puget Sound (salt water) and has lower hours (323), so I was very concerned about the exhaust side. In addition to the survey, I paid a mechanic to do a Mechanical Inspection (while a master Mercruiser mechanic, he was not a licensed surveyor so we were careful about what we called it). With the sellers okay, we opened one of the risers and manifolds and inspected the condition. We discovered that the riser was spotless inside and that the manifolds have another season or two. The previous owner was fanatical about flushing after every use, so that explains the condition. I will do the manifolds in the fall.
 
You're on the right track with getting the two big ticket items resolved. You've invested a bit into this deal already, no need to sour it over the smaller things.

My pre-purchase survey last summer came back with minor issues. I did not ask for any concessions aside from a small gel coat repair. They had already came off asking price (by a lot) and I wasn't going to let a great boat get away over minor items that were easily fixed by yours truly.
 
firecadet613 said:
You're on the right track with getting the two big ticket items resolved. You've invested a bit into this deal already, no need to sour it over the smaller things.

My pre-purchase survey last summer came back with minor issues. I did not ask for any concessions aside from a small gel coat repair. They had already came off asking price (by a lot) and I wasn't going to let a great boat get away over minor items that were easily fixed by yours truly.
Click to expand...
Agreed! Thanks
 
Misterhelms said:
Appreciate the insight. I thought I read somewhere that the risers needed to be changed every 12-15 years for stainless? The boat is kept on brackish water so it's got some exposure to salt water.
Click to expand...
I think I may ask him to replace the water pump impellers in addition to the manifolds/risers (along with genset freeze plug) and call it even.
fwebster said:
Bear in mind that this is almost a 15 year old boat. Expecting the owner to fix everything you find is unreasonable, irrespective of your repair budget, unless it affects the seaworthiness or safety of the boats occupants. The seller is going way beyond the norm by replacing risers/manifolds and genset freeze plug. An experienced buyer would have forced you to reject the boat based on the survey then negotiated those repairs based on the fact that that he would be "gifting" you about 15 years on a new set of exhaust castings. He could then re-offer the boat for sale at a higher price and perhaps force you to start your search all over again.

I wouldn't over-play my hand and shoot myself in the foot while trying to squeeze the last $$ out of a decent deal on a good boat. However, safety and seaworthiness are always fair game for negotiation .........I wouldn't want to get caught out in a blow with an anchor that won't hold. So, ask the seller to replace the anchor or allow you about $250 toward a new one (Fortress aluminum ), get the offer for new risers and manifolds written inept the contract, and move on down the road toward owning a cool cruiser in better then average condition.

Just so you know, Sea Ray carefully mates the anchor, the anchor chute and the windlass to the bows on their boats. If the anchor on this boat has been chipping at the gelcoat on the bow, then I suspect the original anchor was lost a replaced by a non OEM size/design or the owner was just not careful.

Good luck with it.........
Click to expand...
I think I may ask him to replace the water pump impellers in addition to the manifolds/risers (along with genset freeze plug) and call it a day.
 
Not a bad approach. Once the exhaust is pulled a world of space opens up, and getting at the impellers is much easier. Let us know how things go!
 
When I bought my boat, we had 1 round of offer/counter-offer before agreeing on a price, contingent on acceptable survey results. The survey came back great, only a few minor issues, the biggest being the holding tank had a crease on the top but was not leaking (or in danger of it). We speculated it either imploded slightly when the vent line plugged, or the owner set something on it and then closed the hydraulic engine hatch and crushed it. I priced out a replacement for it at around $500 plus labor to swap it. The advice my broker gave me was to not go back and request any of the items to be taken off the price, they were all (except the tank) basically maintenance items that I could take care of when the boat got here.

6 weeks later, the boat was delivered and I found a spare set of props sitting in the cockpit. They weren't present when we did the inspection, and they weren't called out in the sale agreement, so I called the sellers broker to find out what was up. He said because we didn't go back and haggle over a few dollars, the previous owner decided to give them to me instead of going through the effort of selling them.

Sometimes it pays to not chase after every penny. That said though, if there was anything big I probably would have countered, but I just didn't see the point of going after the small stuff...

Good luck completing the sale, you won't regret it once she's in your possession!
Kevin
 
I bought my 360DA last fall and previous owner replaced the manifolds last year but didn’t do the risers since they are stainless. I was told by my mechanic that the welds on the risers are subject to corrosion and that’s what was found during my engine survey done by the mechanic my surveyor brought with him.
There was a laundry list of small things that came up on the survey as expected on a 14 year old boat. I shared the list with the seller but I only asked for the cost of the riser replacement to be deducted from the negotiated price and made the deal.
 
Update - the owner replaced the impellers to see if that would fix the issue, which obviously, nothing changed. It would appear that the owner does not want to have them looked at, hence putting the responsibility on me. At this point, not knowing why the risers where showing a high temperature reading, I am left with the decision to either buy the boat issue unknown, or walk away.
 
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