After 6 years of owning a 22' bowrider, I decided at the beginning last summer it was time upgrade to a larger boat. Throughout the summer months I looked at hundreds of boats, both on the web as well as in person, and eventually decided to purchase a 1996 Formula 280SS w/ twin 5.7 Mercs and B3 outdrives.
I decided on a boat located in Long Island, NY and after numerous photo e-mailing sessions and telephone conversations w/ the broker I hired a surveyor who I believed was reputable to do the survey.
The following week I spent a full day with the broker and surveyor as we did what I considered to be a complete survey; a sea trial, in water survey, engine survey, and out of water survey. While several minor deficiencies were brought to my attention throughout the survey, I believed at the end of the day it was a very solid boat at a very fair price so I followed through with the purchase.
Now for the ugly part: The first time out after bringing the boat home, I lost power in the starboard engine. I took the boat to my mechanic and while diagnosing the engine problems, which turned out to valve and head related, he informed me he believes the stern had been submerged. Since then, I have rebuilt the tops of both engines and currently have both drives off having them completely checked as well because we found water in the starboard drive oil.
My questions/concerns are these: Could someone have done something, in particular with the engines, to prevent these problems from showing up during the sea trial or did I just miss them because the boat was so much different than what I was used to operating? If the stern was submerged, should an experienced surveyor have been able to see that. There was no sign of a water line or grime in the bilge nor was there a lot of corrosion on the engine pulleys, etc. What about water down around the stringers? What long term effects/costs may there be over and above the additional money I've already spent? Does this pose significant safety issues with venturing out into deep water? Would it be wise for me to take the boat to a Formula Dealership(there is one around 3 hrs from my house) and have it completely checked out? Or would I better off simply selling it altogether?
I contacted the broker several times but he claims to have no knowledge of this whatsoever. He also, no longer takes my calls. The surveyor was very apologetic and returned his entire fee to me. After reviewing the terms of the survey/contract, my attorney has advised me he does not believe legal action holds a very good risk/benefit ratio so I will probably not proceed in that fashion.
Looking back at how everything transpired, I obviously didn't do something right but, at the time, I sure felt I had done plenty of research and given my due diligence to the whole deal.
Sorry for the long ramble but all my excitement about the upcoming boating season is turning to concern, especially with regard to safety issues. Any advice on the best way for this fool to proceed? Thanks for your help.
I decided on a boat located in Long Island, NY and after numerous photo e-mailing sessions and telephone conversations w/ the broker I hired a surveyor who I believed was reputable to do the survey.
The following week I spent a full day with the broker and surveyor as we did what I considered to be a complete survey; a sea trial, in water survey, engine survey, and out of water survey. While several minor deficiencies were brought to my attention throughout the survey, I believed at the end of the day it was a very solid boat at a very fair price so I followed through with the purchase.
Now for the ugly part: The first time out after bringing the boat home, I lost power in the starboard engine. I took the boat to my mechanic and while diagnosing the engine problems, which turned out to valve and head related, he informed me he believes the stern had been submerged. Since then, I have rebuilt the tops of both engines and currently have both drives off having them completely checked as well because we found water in the starboard drive oil.
My questions/concerns are these: Could someone have done something, in particular with the engines, to prevent these problems from showing up during the sea trial or did I just miss them because the boat was so much different than what I was used to operating? If the stern was submerged, should an experienced surveyor have been able to see that. There was no sign of a water line or grime in the bilge nor was there a lot of corrosion on the engine pulleys, etc. What about water down around the stringers? What long term effects/costs may there be over and above the additional money I've already spent? Does this pose significant safety issues with venturing out into deep water? Would it be wise for me to take the boat to a Formula Dealership(there is one around 3 hrs from my house) and have it completely checked out? Or would I better off simply selling it altogether?
I contacted the broker several times but he claims to have no knowledge of this whatsoever. He also, no longer takes my calls. The surveyor was very apologetic and returned his entire fee to me. After reviewing the terms of the survey/contract, my attorney has advised me he does not believe legal action holds a very good risk/benefit ratio so I will probably not proceed in that fashion.
Looking back at how everything transpired, I obviously didn't do something right but, at the time, I sure felt I had done plenty of research and given my due diligence to the whole deal.
Sorry for the long ramble but all my excitement about the upcoming boating season is turning to concern, especially with regard to safety issues. Any advice on the best way for this fool to proceed? Thanks for your help.