Looking at buying our first boat!

[Taylor31]

Hi everyone

I have been reading the forum for the past few months and now I think we have finally found our boat.

We are having a survey and engine inspection done this weekend and if all goes well, we will be boating before the July long weekend!

The boat is a 1989 Carver Montego 2557. It has the 7.4L Merc with Bravo 1 out drive and 930 hours on the engine. The present owner has had it since 1998 and has all service and maintenance records. It has been winterized each year by the technicians at the marina and stored inside. It has a West Marine Epoxy system applied and anti fouling paint is applied regularly. The striping is faded/oxidized but the vinyl and interior are in good condition. The seller said that the compass needs to be replaced and that the trim tabs need to be looked at as they are not accurate. He said that the water pump has been replaced as well as the bellows however, no major repairs since he has owned it.

Are there any other questions I should be asking or any other steps I need to take to do my due diligence before purchasing? Also, he is asking $11,500 for the boat with no trailer. For those that know the market here in southern Ontario, does this seem like a fair price given the survey is satisfactory?

Thanks
Taylor

 

[LippCJ7]

Re: Looking at buying our first boat!

Just like any other used boat, check or have the deck and stringers checked, may be worth having the motor looked over, compression and leak down check, the trim tabs and compass are pretty simple to have replaced and they may be in need of it.

Depending on the hours you may be looking at having the motor freshened up those big blocks work hard but can't be beat.

But more then anything make sure your stringers are in good shape, they are the backbone of the boat, if they are no good you have to make a very serious decision to get any boat, if you don't know how a Marine Survey is a great idea.

the gelcoat can likely be brought back to life by a good detailer but be ready it will cost you $15-$25 or more per foot depending on the detailer, those that can work magic are expensive but they can often work miracles.

Price is a tough thing to deal with, we don't know your area nor your market so it will be hard to put a real value on it, sounds a little high but without seeing the boat and not knowing the condition I'm reaching.

 

[Taylor31]

Re: Looking at buying our first boat!

Thanks for your reply and suggestions LippCJ7

We are investing in both a survey and an engine inspection. The haul out, survey and engine inspection is costing a little over $1000.00 but I think it is money well spent to reduce the risk of any surprises. It looks like a nice, clean, well cared for boat so we are hoping to get a satisfactory result on both the survey and the engine. We are not expecting perfection in a boat that is 20+ years old but if there are things that need to be done that we can live with, we will use this to negotiate the price.

 

[Scott Danforth]

Re: Looking at buying our first boat!

I have a friend of mine with an 1988 Carver Montego 2557 that he picked up a few years ago and is selling. only has 225 hours on it and comes with a trailer for much less. I think 11k for that boat is a bit high. I would say closer to $8k being realistic.

 

[Taylor31]

Re: Looking at buying our first boat!

I have a friend of mine with an 1988 Carver Montego 2557 that he picked up a few years ago and is selling. only has 225 hours on it and comes with a trailer for much less. I think 11k for that boat is a bit high. I would say closer to $8k being realistic.

Hi Scott...sure wish I was buying a boat in WI!

Here in southern Ontario, the market seems to be fairly strong in the price bracket I am looking in. I have followed up on a number of ads for Montegos over the past two months that are listed between $11K and $15K and the promising ones have been selling within a week of the ad going up.

 

[LippCJ7]

Re: Looking at buying our first boat!

Thanks for your reply and suggestions LippCJ7

We are investing in both a survey and an engine inspection. The haul out, survey and engine inspection is costing a little over $1000.00 but I think it is money well spent to reduce the risk of any surprises. It looks like a nice, clean, well cared for boat so we are hoping to get a satisfactory result on both the survey and the engine. We are not expecting perfection in a boat that is 20+ years old but if there are things that need to be done that we can live with, we will use this to negotiate the price.

I think you are in good shape then, you know how it is everyone thinks they have a diamond in the rough so the key is finding that common ground where he is ok with letting it go and you are ok with what you are paying, of course all of this depends on the boat being solid or there is an agreement with repairs and selling price. Protect yourself, you don't want anyones headache, then you become one of those that is happiest the day you sell it, none of us want that, you are in no way out of line getting things checked out on this boat, if the seller is "By all means!" thats your guy where as if he gets all butt hurt you know something is up and its time to RUN AWAY!!

 

[Taylor31]

Re: Looking at buying our first boat!

I think you are in good shape then, you know how it is everyone thinks they have a diamond in the rough so the key is finding that common ground where he is ok with letting it go and you are ok with what you are paying, of course all of this depends on the boat being solid or there is an agreement with repairs and selling price. Protect yourself, you don't want anyones headache, then you become one of those that is happiest the day you sell it, none of us want that, you are in no way out of line getting things checked out on this boat, if the seller is "By all means!" thats your guy where as if he gets all butt hurt you know something is up and its time to RUN AWAY!!

Thanks LippCJ7

The seller has been very cooperative around having the survey and engine inspection done. Arranging it all when both of us are 3 hours away from where the boat is located (he has it at his cottage) has been complicated to say the least and he has been very helpful in getting things arranged. I think that this is a good sign. While I do really like the 2557 model, I am not an emotional buyer and am concerned about getting a solid boat, not one that is shiny

 

[MarkSee]

Re: Looking at buying our first boat!

Also, he is asking $11,500 for the boat with no trailer.

Are you going to be having to purchase a trailer or will it be in a slip?

Do you really like the style of boat and plan on keeping it for several years?

If no additional expense for a trailer, plan on keeping it for several years, the owner was honest about items that needed attending to, he cared about the boat to keep records, the survey comes back really positive then with the market in your area as it is, don't try and cheap out to save a few bucks just offer to take him to your bank and get him the $11,500 and enjoy the boat.

Mark

 

[Taylor31]

Re: Looking at buying our first boat!

Absolutely Mark! If the survey goes well, I think I have myself a winner at that price.

We will be keeping it in a slip but it is 3+ hours away from where the boat is located so we will have to pay for transport (approx $750.00 believe it or not!). We do love the style and the size is perfect for how we intend to use it so God willing, we will have it for many years.

 

[LippCJ7]

Re: Looking at buying our first boat!

also Mark something to understand is that were in the West where as Taylor is in the Northeast, not having a trailer in the Northeast is sometimes an advantage, they don't trailer like we do out here. The east just does things weird.....LOL!!

 

[Taylor31]

Re: Looking at buying our first boat!

So true...people don't trailer their boats much here. Most have it in a slip at a marina or they have it docked at their home or cottage. The way people drive up here...that's a blessing!

 

[Sunsetrider]

Re: Looking at buying our first boat!

My comments from buying a 90's era boat last season:

- good thing you don't need a trailer because you won't find a used one;
- do your research here and elsewhere on the web, buy good equipment and supplies and you can make that baby shine like new!
- This is not an investment, except an investment in good times, so price is not a factor so long as you can afford it. Who cares if you pay more than you might have?
- Marina life is a blast! I spent some time at Outer Harbour Marina and Alexandra Yacht Club back in the day. Good times . . . . *sigh*

Good luck and enjoy!

 

[Taylor31]

Re: Looking at buying our first boat!

Thanks Sunsetrider,

We are looking forward to joining the marina crowd. I am self employed so in the summer, so the boat may become my uh hum...office

Outer Harbour is a nice marina. We looked there but just can't resist the view of the city from the island, not to mention the quiet and green space for the dogs. We live right downtown so it will be a nice change of pace! Kind of like a cottage with a 20 minute commute We are headed over tomorrow to put a deposit on a slip at Toronto Island Marina...can't wait!