rcknecht
Well-Known Member
Look for what the asking prices on www.boats.com, or other internet site... Depending on how many are for sale, I would use the lowest asking price, minus %15, as a low comp...
Appraised value lower than offer
- Thread starter kerslaks
- Start date
Look for what the asking prices on www.boats.com, or other internet site... Depending on how many are for sale, I would use the lowest asking price, minus %15, as a low comp...
douglee25
Well-Known Member
Anothing item to consider is if you decide to purchase a boat for more than the appraised value, insurance companies may only insure up to the appraised value. You could find yourself in a pickle at that point.
Doug
Doug
rcknecht
Well-Known Member
Don't think insurance is a problem, a bank loan my be a problem... I use progressive insurance, and my boat is insured for twice as much what I paid for it. I paid half the NADA book value, and Progressive told me they use NADA... So my boat is worth more under the water than over the water.. :smt043
douglee25
Well-Known Member
Henry Boyd
Well-Known Member
- Apr 24, 2007
- 6,014
- Boat Info
- ‘09 Sabre 38 Hardtop Express “Serenity”
- Engines
- Volvo D6 w/IPS450 Pods
Be careful on that one. Insurance companies often CTA by putting in a 'not to exceed market value' clauses in the little print.
The other point that I can't stress enough is that 'appraisals' are very specific documents that are prepared in a very specific context when talking about insurance or financing. It is the same situation as market values provided by a real estate agent/broker and the values provided by a licensed real estate appraiser. The numbers can come out the same, but the only one that means anything in a legal sense is the one provided by the appraiser.
Henry
Bridog
Well-Known Member
edit
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Carver370
Well-Known Member
- Mar 30, 2007
- 1,928
- Boat Info
- 2000 Sea Ray 400 Sundancer - Diesel
- Engines
- T-3116 CAT - 350 HP
I'm going to go out on a limb here and suggest that the football shaped and sized marks on the hull are from dirty fenders.
If this is the case, get a detailer to buff the hull out and wetsand that area. The hull will look like new!
If this is the case, get a detailer to buff the hull out and wetsand that area. The hull will look like new!
unklbuck
New Member
Good
Raise it 13,000 more--no, make it 20,000. Show me who be da boss.
I'll go to the next 30 guys on the list and probably save even more and get a better boat to boot. Or, wait two months, and really have a party with the savings, and the deal.
For sure though, I would send you a thank you note for not getting really mad at me for dicking you around and hope that you sold your boat to let's say a less dickier buyer.
Raise it 13,000 more--no, make it 20,000. Show me who be da boss.
I'll go to the next 30 guys on the list and probably save even more and get a better boat to boot. Or, wait two months, and really have a party with the savings, and the deal.
For sure though, I would send you a thank you note for not getting really mad at me for dicking you around and hope that you sold your boat to let's say a less dickier buyer.
mwph
Well-Known Member
- Jul 8, 2008
- 3,229
- Boat Info
- 1998 250 DA
- Engines
- 7.4L, B3
Am I the only guy that is skeptical about the surveyor magically "adjusting" the value of the boat?
I'm the first to admit that I may be lacking experience but 28k overnight? I just smell something cooking & it aint chicken.
I'm the first to admit that I may be lacking experience but 28k overnight? I just smell something cooking & it aint chicken.
unklbuck
New Member
buyer dude.... how did thou findest the surveyor?
techmitch
Well-Known Member
- May 1, 2008
- 8,421
- Boat Info
- 1999 270 DA
- Engines
- Twin 4.3s W/Alpa I Gen II's
This is what MWPH was talking about "Late last night we received an new survey report. The surveyor amended the value of the boat to be more inline with the NADA value, he increased the appraisal by $28K"
HUMPH
Well-Known Member
- Nov 4, 2009
- 7,618
- Boat Info
- 2003 410DA
2009 Walker Bay 13’
- Engines
- CAT 3126TA's 350HP/
50HP Honda
In this market anything goes! My purchase price is less than 60% of NADA...
Great time to buy a boat but horrible time to sell one. :smt009
Great time to buy a boat but horrible time to sell one. :smt009
I am going to have to agree with you here and I hope all readers and posters see what you see.
The thought of simply finding the cheapest anything and deducting any percent and stating that is a good starting point is simply a cheap offer with no real effort. If I am a seller on this forum and I find a buyer that would take this negotiation strategy serious we would be wasting each others time. There is always going to be something cheap out there whether a boat, car, couch, bread. A great loaf of bread must be sold at a cheap price is the theory here. I am also thinking that there is a world of difference in a cheap boat and one that has been well maintained with documentation.
Another thought for me is this whole “Buyers Market” thing. I know it is a good time to buy but I am not going to tell anybody to try to steal the Sea Ray. As a matter of fact I think you can get a great deal on a Sea Ray now and that would be a steal as compared to a great buy on a BayLiner or Carver or … The steal will happen if it was meant to be and the person who purchases the Sea Ray that is turn key and documented yet paid some extra for that value ends up with the same deal/steal.
There are many posters promoting the total destruction of value on there own Sea Ray boat. I hope those that get/have to sell their boat don’t get hit with there own mental gymnastics once they find a prospective buyer. If you do may be you will remember what type of shopping you promoted.
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Pseudomind
Active Member
- Jul 1, 2008
- 2,122
- Boat Info
- 2011 Hurricane with Magic Tilt Trailer
- Engines
- 115 HP Yamaha Four Stroke
I think something is amiss here, and it would help tremendously if an issue was cleared up.
I as a possible buyer have hired a surveyor who is therefore working for me. I know each of my previous two surveys to include the haul out was just under $900.00 each.
I want to know how "MY" surveyor quotes me one value and then magically turns around the next day and has increased the survey value by $28,000.00.
This has nothing to do with the seller...doesn't the surveyor work for me and my interest, and I am referring to being impartial here. As Joe Friday would say, "Just the facts ma'am, just the facts."
I as a possible buyer have hired a surveyor who is therefore working for me. I know each of my previous two surveys to include the haul out was just under $900.00 each.
I want to know how "MY" surveyor quotes me one value and then magically turns around the next day and has increased the survey value by $28,000.00.
This has nothing to do with the seller...doesn't the surveyor work for me and my interest, and I am referring to being impartial here. As Joe Friday would say, "Just the facts ma'am, just the facts."
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douglee25
Well-Known Member
It's really no different than the housing market right now. Buyers play the odds and beat up sellers all the time. They put in multiple lowball offers on 5-10 boats and they are bound to find one person to accept. If yours is too high, they just pass it by. In all reality, if you're not priced for the market, it's not going to sell. BUC and NADA don't set the pricing, buyers do. BUC and NADA just give you a starting point. The real problem is, may people are upside down on their payout vs. what their boat will go for in the market. Therefore, they can't even sell if they wanted, unless they put up their own capital.
Doug
Doug
There is something that just simply does not float with this appraiser and/or appraisal. I don’t know what it is but I have to assume the appraiser is a professional and he truly did make a mistake.
Whatever it is if the buyer does not feel comfortable moving forward he should be able to walk away, with his/her deposit refunded, based on the new found damage. This is assuming the damage was not originally disclosed based on the buyers’ comments in this thread. If I was a seller I would have disclosed hull damage up front. I am thinking the buyer should walk from this deal. Too much hair on it.
And supposing the appraiser did make a mistake the buyer can move forward if an agreement can be made that would satisfy the survey problem findings.
I am not talking about the housing market or the boating market. I am talking about the Sea Ray Market. As a Sea Ray owner I want to enhance, not bash. By all means bash the market but if you want some help to preserve your boat value I can give you several tips. Even if you don't own a Sea Ray there is likely some sizzle you can sell.
BTW . . . this plug was directed at Sea Ray Owners on this website that purchased the Sea Ray brand and likely paid more for the brand/quality than many other brands to choose from.
Did you know that every Sea Ray boat is a reflection of Sea Rays's commitment to precision, innovation and craftsmanship? Spacious cockpits flow into thoughtfully designed cabins. The design, details and materials are tested and approved by the most dedicated group of professionals in the marine industry. The result is a line of boats, from 17 to 61 feet, that continues to set higher standards when it comes to aesthetics, engineering and technology. That's what you can expect from Sea Ray.
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