any issue selling a boat with a leak if I disclose?

[Biggredd]

I have a 1996 Marada 21' open bow with 5.0 V8. I really like the boat and the wake but I recently bought an HOA house and the boat is just a touch too long to fit in the garage and am having to pay for storage now, as well have a second baby on the way so I'm debating on selling it now while in peak season or just keep it. I recently got a leak which I think is in the bellows, likely just getting worn out. The couple times I've used it I could just turn on the bilge pump and monitor it. Obviously I can't continue to keep running it this way and I've watch some videos on the labor involved to do it. I think its getting out of my DIY abilities and likely above my current budget to fix timely. If I do decide to sell and get a new boat next summer do you think there are many issues selling it if I properly disclose it? Obviously I might scare away a few people, might be an opportunity for others. NADA puts it around $4500 to $5100. How much do you think that would knock off? The boat is in pretty decent condition except for a few duct tape repairs on the vinyl seating and some wear and tear normal for a 96.

 

[ajax5240]

Re: any issue selling a boat with a leak if I disclose?

If you disclose it, call a local shop and find out what they would charge to repair it. Include that in your ad. Start on the high side of nada less the repair cost. You can always lower the price if you don't get any responses.

Your going to pay for it either way, by repairing it before sale or in the discount you will have to give to sell as is.

 

[mrallen007]

Re: any issue selling a boat with a leak if I disclose?

I say if you disclose the leak then you are dealing with integrity. As long as someone knows what they are getting and the potential problems they are getting along with it then they can make an educated decision. As Ajax said, get a quote from a shop so your buyers have an idea of what the extra costs may be if they get it. I say if you do that then you are dealing in the clear.

 

[JoLin]

Re: any issue selling a boat with a leak if I disclose?

Good luck selling a leaking boat. There's no telling how long it's been leaking. Besides the bellows itself, the gimbal bearing and u-joint also need to be replaced. Why not just get it all fixed?

 

[drrpm]

Re: any issue selling a boat with a leak if I disclose?

Fix the leak and the boat will be worth more, easier to sell and there will be no need for disclosure.

 

[lncoop]

Re: any issue selling a boat with a leak if I disclose?

Ethically there's nothing wrong with selling it as is provided the leak is disclosed, but I'm with JoLin. When I see an ad that says "only needs......which according to.........will cost.............. " I immediately rule it out. I always wonder whether that assessment is based on a close thorough firsthand inspection by a qualified third party, a quick phone conversation between seller and third party that results in speculation as to the best case scenario which is then reconstituted as a diagnosis, or simply the seller's opinion. I also wonder why, if the repair is so simple and inexpensive, the seller doesn't just fix it before selling. I'm not saying any of this applies to you necessarily. I'm just pointing out the attitude you're likely to encounter if you try to sell it with a leak. YMMV.

 

[Home Cookin']

Re: any issue selling a boat with a leak if I disclose?

Fix the leak and the boat will be worth more, easier to sell and there will be no need for disclosure.

agreed.
You will also miss a lot of calls with the disclosure of a leak, lost opportunity to show the good points.

You avoid the risk of the buyer "forgetting" that you told him, too.

 

[spdracr39]

Re: any issue selling a boat with a leak if I disclose?

Repair cost for all that is around 1500.00 at a shop.

 

[sea wolf]

Re: any issue selling a boat with a leak if I disclose?

I have a 1996 Marada 21' open bow with 5.0 V8. I really like the boat and the wake but I recently bought an HOA house and the boat is just a touch too long to fit in the garage and am having to pay for storage now, as well have a second baby on the way so I'm debating on selling it now while in peak season or just keep it. I recently got a leak which I think is in the bellows, likely just getting worn out. The couple times I've used it I could just turn on the bilge pump and monitor it. Obviously I can't continue to keep running it this way and I've watch some videos on the labor involved to do it. I think its getting out of my DIY abilities and likely above my current budget to fix timely. If I do decide to sell and get a new boat next summer do you think there are many issues selling it if I properly disclose it? Obviously I might scare away a few people, might be an opportunity for others. NADA puts it around $4500 to $5100. How much do you think that would knock off? The boat is in pretty decent condition except for a few duct tape repairs on the vinyl seating and some wear and tear normal for a 96.

Lower the price & you might find a sucker who's willing to deal with a boat that needs a new bellows, gimbal bearing & possibly u-joints. You should have parked it until the repairs were done but the damage is now done. I wouldn't buy it. Not at that price. Good luck.

 

[crabby captain john]

Re: any issue selling a boat with a leak if I disclose?

This one could be on the "funny Craigs List Ads" thread...

 

[pckeen]

Re: any issue selling a boat with a leak if I disclose?

Hi,

You have to disclose if you sell. With new kids, you may find it is a few years before they want to be on the boat - from birth of kids until the eldest was five, we used our boat rarely, which meant is sat and lost value (and needed repairs) for several years.

Having said all this - you could just put it up at a reasonable price, with the leak disclosed, to see what happens. Craigslist is free.

 

[steven_p]

Re: any issue selling a boat with a leak if I disclose?

I'd fix it. Lots of boats on the market and a lot of potential buyers will skip right over yours if it's not fixed.

 

[greenbush future]

Re: any issue selling a boat with a leak if I disclose?

Turn key will get you a much better price if you can swing it, broke will get you rock bottom value. To answer your question, yes you can sell it broken, it's just not perhaps the best way as suggested by others too.

 

[SDSeville]

Re: any issue selling a boat with a leak if I disclose?

As mentioned above, turn key is the way to go. You can replace the bellows yourself. It is a PITA, but definitely doable DIY. There are many videos out there. Inspect everything while you are in there. The bearing and U-joint may not be shot.

 

[four winns 214]

Re: any issue selling a boat with a leak if I disclose?

I looked at a pocket cruiser last year. When I went to look at the boat, the owner said there was a leak "near the outdrive" and he said his mechanic said it would cost $1,000 to fix. The owner informed me he priced the boat accordingly. After looking at the boat and seeing the owner's abilities both in upkeep and knowledge, I passed on the boat. He thought the "ON-OFF" label on the trailer brake fluid reservoir fill cap was how one turned the brakes on and off! Of course the reservoir was bone dry. He had assured me the brakes worked fine.

To advertise a boat for sale with known issues certainly plants a doubt in a potential buyer's mind about the owner's upkeep commitment to the boat. My recommendation is to fix it.

 

[ricohman]

Re: any issue selling a boat with a leak if I disclose?

Turn key will get you a much better price if you can swing it, broke will get you rock bottom value. To answer your question, yes you can sell it broken, it's just not perhaps the best way as suggested by others too.

People want to go boating when they buy a boat. Not drop it off for repairs.
Kinda like selling car that dosen't run. Here come the low ball offers......

 

[crabby captain john]

Re: any issue selling a boat with a leak if I disclose?

Unless buying a project or junk for parts who would buy a boat that had a leak?

 

[HalfFish5087]

Re: any issue selling a boat with a leak if I disclose?

And someone feel free to correct me, but the upper seal in the outdrive is there to keep oil from getting into the bellows. But, it will not keep water from getting into the outdrive if the bellow is full of water. Failing to fix leaking bellows can add up to a very expensive repair quickly.

 

[Biggredd]

Re: any issue selling a boat with a leak if I disclose?

well i posted on Craig's list for 4800. I fully disclosed the leak and honestly answered questions. I originally paid 3900 and they offered me 4000. Sold to very first person within four hours. I told him everything i knew and Bill of sale clearly said as is.

 

[spoilsofwar]

Re: any issue selling a boat with a leak if I disclose?

People want to go boating when they buy a boat. Not drop it off for repairs.

Not according to a lot of the threads on this site

To the OP: if you fix it, you may get more then your ROI in the repair back in the final sale price. If you just want to wash your hands of it, then sure, sell it as is with the disclosure.

Edit: didnt get all the way thru the thread before hitting reply. OP, congrats on the sale.