Listing Broker's Representation

I've never heard those checklist questions asked except maybe as 'what happened here' when the broker sees something while inspecting. It definitely marks you as one of the very good ones. Given the HMY situation, it probably wouldn't be a bad idea to put that in a form signed by the seller. In home sales there are disclosure forms and standards. Some states have pretty extreme disclosure requirements. Given the price & purpose of yachts (and this recent case) it'd be a good thing for the industry to consider adopting.

I have a disclosure sheet that is extremely extensive.. more so than any other I have seen. When acting as a buyers agent, i ask that the listing agent please fill out my questionnaire. Our house now even requires it or we will not list a boat. If someone cant give you an honest answer, I don't want to do business with them nor subject my buyer, seller, or reputation to a less than trust worthy situation. We protect our buyers and our sellers. It is our job. PM me and we can compare our forms. Perhaps we can learn a thing or two from each other. I am interested to see where we differ and are the same. Great Post. Ill be on the look out for your PM.

Hi,

How does this wonder form that asks the seller all questions imaginable actually protect that same individual?

1) I'd certainly buy a boat with full disclosure before another's without. So it helps sell the boat. 2) If he appears to have made a complete disclosure he's less likely to be held liable fo something that comes up later. (Why would he try to hide this if he was willing to disclose that?)
Transparancy only hurts those with something to hide. It's a tool coming more and more into real estate transactions and even used cars sales ("Show me the Carfax"). It also gives great cover to the broker. I'd bet HMY wishes they had it on a recent sales (http://www.yachtforums.com/forums/g...llion-dollar-lawsuit.html?highlight=HMY+sued). Nobody wants to feel like a fool after laying out hundreds of thousands if not millions of dollars. I think this could be a tool very needed and useful in these times.

Hi,

Surely all the Seller has to do is deny knowledge of something only he knows about and any declaration is worthless.

A thorough survey and sea trial will never be substituted by a seller declaration in this world AFAIAC.

Absolutely! It's only one more tool. It won't turn an dishonest person honest, but gives more recourse when they're caught, and may give food for thought to the honest person who's may be tempted to fib. Certain states here have disclosure rules for real estate transactions and still money is often left in escrow just in case something is missed. The smart buyer still has his own inspection done though. All that doesn't guarantee that the roof won't fall in, but it lessens the odds. Right now a multi-million dollar yacht is sold with the same restrictions as a hoopty...none, and reasonably intelligent and successful people still plunk down their money like marks in a game of 3 card Monte. I can't think of any reason that all brokers wouldn't embrace this and all buyers wouldn't demand it. In that case the sellers would have little choice but to comply. As pointed out before there are benefits for the seller, but this is definitely something for the protection of the buyer and broker and the industry.

Question: If the owner of a yacht knows of a manufacturing Hull defect that has tried to be repaired by the manufacter and the manufacter is calling this repair an upgrage to the hull how would you handle this

That sounds interesting. Please elaborate, I and other will try to assist you. It surely is not an upgrade from how you have described it.

No brainer...lawsuit, if it's as stated, as long as he's not trying to bring a Bayliner up to the standards of a Hattaras. Is this a problem unique to his vessel or just that the builder could have done it better? Did the builder make the correction to later models? Does it affect the seaworthiness of the vessel? There are a lot of gray areas. First thing he needs is an independent opinion.

Hi
I have a 50 ft hatteras built in 2001 in 2005 discovered that stringers were comming apart from hull Manuf. said secondary tabbing was comming apart,not the case, tabbing was breaking,also was told that hull bottom was shear cracking, hatteras took boat back to factory and removed chine stringers and replaced, added some amount of glass on hull bottom and when they returned the boat to me the hull has a tremendus amount of gel coat cracking, Captain said it was pretty snotty on day. Ma. hatteras dealer,who I purchesed this boat from will not touch this boat or any other 50 with cat 3412 in it. Hatteras is calling this an upgrade Will continue this later have to go to PRE_TRIAL CONFERENCE

Tell Bruce at Boston Yacht hello.

I am confused when I re-read the post. "when they returned the boat to me the hull has a tremendus amount of gel coat cracking, Captain said it was pretty snotty on day" Was the cracking a result of running it after a specific day/days or was it returned to you with the cracking already occurring?

Dave Jones & BrokeredTides, You may want to take this to PM. Too much info on the open forum could hurt your situation.

this story rings a bell, i remember it was discussed elsewhere: blaming Hatteras after the boat had been run hard in rough conditions by the delivery skipper...

as to broker disclosure, couple of years ago I looked at a 70 footer presented by HMY... 6 year old boat that had been painted always raises a BIG red flag! turned out to be hurricane damage the broker claimed not to know anything about even though the evidence was clearly visible behind an access panel in a SR closet!

Hi,

If you were the Owner of a big steel hulled mega yacht and got 6 yrs out of the first paint job you would also raise a big flag but this time it would be a big celebratory one as there isn't a recent( last 6 yrs or so) mega yacht launch in Nthn Europe where the finish has stayed looking good for that long.

well, i was obviously refering to a gelcoated fiberglass hull... very few FG builders paint over gelcoat.

why has there been an issue with recent european painted finish? there are still 20 year awl awlgripped Hatteras that look like new!

Hi,

If anyone can find a definitive answer to that one they will be able to retire immediately on what the likes of AwlGrip would save given the recent far from satisfactory efforts that have been sent out from yards.

The first paintjob on a big boat that has a good covering of epoxy filler ( I don't think there are any shiny non composite megayachts that don't have this under the topcoat) does not tend to last anywhere near as well as the second and subsequent repaints.

Your 20 yr old paintjob on the Hatteras is not sprayed with the same formula stuff that is in use today.

First let me try to make it clear It was Hatteras captain that ran the boat in rough conditions and created a list of about 20 items that were damaged ,worst of which was all hull cracking, bottom and sides, sides cracked completely through to core,bridge floor cracked,aft engine room bulked cracked. These problems may not be all the captains fault,because in the depositions hatteras say that there was a "manufacturing Defect" I have owned 4 hatteras 3 new and always thought they were a stand up company Things have changed and they no longer take resposability for there actions