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The travels of narrow boat Racundra

Buying the boat

Buying the boat

OK. We’ve selected the boat we want to buy – how do we make it ours so that we can set off on our adventure?

Although a fairly large sum of money changes hands, buying a boat is much simpler than buying a house. You certainly don’t need solicitors, land registries or stamp duty.

The first step is to agree a price with the vendors. We did this through the selling broker. One phone call and the deed was done. As no recent survey was available for Racundra, the agreed price was “subject to survey”. We paid a deposit of £1000 which was returnable if the survey came up with anything serious that we could not sort out with the vendors, and the vendors gave us permission to engage a surveyor. We also paid the marina the cost of having the boat dry docked for the survey to be carried out.

At this point we returned home and everything else was carried out over the phone. I located a surveyor who could do the survey promptly: Peter Tindall. He required me to sign a contract and pay his fee in advance – not entirely happy about this as it seems I am taking all the risk. Peter duly carried out the survey. He rang me on his way home to go through the main findings and then emailed me a copy of his report. I believe he was pleasantly surprised by the condition of the hull and the general fit out. As is my experience with house surveyors the list of items reported seems a lot, so it was good to have spoken to him and been reassured that there was nothing too serious.Racundra in dry dock

Here is the report: Pre-purchase Survey Report

A number of problems were highlighted by the survey that were either safety issues, or were things that were not obviously reflected in the sale price of the boat. We obtained an estimate from the marina for correcting these faults and then negotiated with the vendors to split the cost. The purchase price was reduced accordingly. We then completed the sale and passed over the balance.

Racundra was then ours and we have a “Bill of Sale” to prove it!

Next step was to get the maintenance work done. Fixing her up …

 

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