Buying 2008 LSV w/ Hull Repair

[Leebo]

Hey - I'm looking at an LSV that needs the hull repaired (work to be done by a Moomba dealer). The repair estimate is $4-5k which would be paid by the seller. Would you guys still consider buying a boat that's had the hull repaired (hit something around the fins on the bottom)? If so, what kind of discount should this be?

thx!

-Lee

[jimmylsv]

I would establish the market value of similar boats that don't need repair. I would get 2 estimates and choose the higher of the 2. I would want a written detailed work order. It should include all the repairs necessary to bring the boat back to whole. I would deduct the repair . I would then expect a substantial discount for purchasing something you can't water test. If it was me I would have to get another $5,000to $6,000 off. Just remember you are taking the risk. I would expect to get a smokin deal or it's just not worth it. Remember you are taking a huge burden off the seller, because if they were in a position to repair the boat they would of and should of before selling. I would also be a little concerned if the v drive had any damage. If I could not hear the engine run I would not even consider purchasing. Just my opinion.

[parrothd]

Sure, if the price is right, no one is going to touch it unless they know how to fix boats. Have you seen the damaged area?

Take it to an independent dealer and get an estimate, then double it subtract that from what the boat is worth, do not use Nada or other price guides, or only inboards cuz those are dealer prices. Use claz and craigslist and do the research.. I'm guessing since the repair hasnt been done the seller doesn't have the money to fix it so that gives you more leverage on lowering the price..

If your lucky you can find someone that does hull work cheaper than the dealer and you may break even.. Remember when you resell it your not going to get top dollar unless the repair is perfect and you forget to mention it..



Sent from my Nexus 5 using Tapatalk

[jimmylsv]

Now you have me curious how much are they asking for it? Also how many hours, condition and options?

[sandm]

interesting issue.

guessing there's a LOT more to this story than is being posted or known on the sellers end.

[Leebo]

The longer story is I found it on craigslist and have paid a Moomba dealer to do a survey (which will include a lake test.) They found the damage in the survey and would be the ones to do the repair. I have yet to call the seller back. My terms would be it gets fixed by the dealer doing the survey. Everything else on the boat is in good condition (mechanical, cosmetic, etc.)

Assuming the Moomba dealer does the repair, 10% less than a boat that hasn't been repaired, 20% or more? thx

[moombahighrider]

So, the seller did not disclose the damage to you? That is sketchy and shows true character. I would beware. My 2 cents...

[moombadaze]

im not sure I would really want it knowing it was damaged, even being professionally repaired. tough call

[kaneboats]

If the dealer doing the repair is local to you and will warranty the work, no problem. Boats get fixed all the time. But if they are too far away or won't warranty, then maybe no, huh?

[zabooda]

I would never buy anything except a home with conditions where certain things need to be done first. Discount the price of repairs and any other issues and take it home "as is". If the seller wants to do the repairs first then let him and then re-evaluate as you may still want to walk away from it.

[sandm]

on the one side it's not that much different than buying a used car that has been repaired from an accident. happens all the time, but for the seller not to disclose and it's discovered by a dealer that is then talking 4-5k seems a little shady as mentioned. I can't believe that looking at the boat would not reveal damage that extensive for 5k in repairs. I would have walked as soon as I saw the damage. as a seller, it should have either been heavily discounted to encourage a sale or get it fixed with a clean bill of health and disclose the repairs and subsequent fix.

I'd walk on this one unless you are getting the boat for 25% off market value after repair costs.