4th Attempt..

[Paradox]

At buying a boat over the last 18 months. 2005 38 Lightning with semi staggered 525s and shorties. Represented as top ends done 230 hours ago. Pictures reflect clean as can be. I put a $10k plus deposit down and started the process.

Finally get a Sureyor and Merc certified shop lined up to take a look. Goes to the shop first and..

They reported back that port motor cylinders 1, 3 and 5 have water in them and #1 is almost dead at 48 psi compression. The starboard motor has water in the cylinders as well with #7 being at almost no compression. Plugs are actually rusted. I understand that the likely cause of this is bad headers which have probably corroded the heads beyond usability as well.

Of course that ends the deal and I am now on the hunt once again..

 

[monkeyswrench]

Too bad, such a beautiful boat. Sad that the owners probably knew, an are fishing for someone that wouldn't check it out.

 

[mattyc]

At buying a boat over the last 18 months. 2005 38 Lightning with semi staggered 525s and shorties. Represented as top ends done 230 hours ago. Pictures reflect clean as can be. I put a $10k plus deposit down and start the process.

View attachment 1355927 View attachment 1355928 View attachment 1355929 View attachment 1355930

Finally get a Sureyor and Merc certified shop lined up to to a look. Goes to the shop first and..

The port motor cylinders 1, 3 and 5 have water in them and #1 is almost dead at 48 psi compression. The starboard motor has water in the cylinders as well with #7 being at almost no compression. Plugs are actually rusted. Likely cause is bad headers which have probably corroded the heads beyond usability as well.

View attachment 1355954 View attachment 1355955 View attachment 1355956

Of course that ends the deal and I am now on the hunt once again. What a complete and total pain in the ass..

That's crappy, the boat looks nice. No way to work out a deal that accommodates the engine repairs? Or are you looking to be on the water quickly?

 

[welldigger00]

I’d say the effort spent was well spent. All you’re out is time, and maybe a little money.

 

[CLdrinker]

Did you get your deposit back?

 

[TBulger]

Could those be repaired? Will they last if they are?

 

[Paradox]

Broker (in Florida) told me up front that he had not seen the boat which is in Canada. He immediately wired back my deposit and was straight about it.

My initial thought was, based on the top end rebuild representation, I should get a season or two out of it before having to spend money on full rebuilds.

Subsequently, based on what was found, the boat requires immediate rebuilds and new headers. I’m also (now) thinking the drives could be suspect as well however, I stopped the process before they were looked at. Headers alone are $18k. Coupled with full rebuilds and perhaps some drive work, the numbers grow quickly and that is not what I was bargaining for..

to @mattyc ‘s point, as much as I want to get on the water, I have way more time than money and really want to find the right deal.

 

[GETBOATS]

"Broker (in Florida) told me up front that he had not seen the boat which is in Canada."

These brokers shouldn't represent boats they no nothing about. They are just in the way of the transaction. As in this case , everything related to the actual purchase in pushed on the seller anyway.

 

[Paradox]

"Broker (in Florida) told me up front that he had not seen the boat which is in Canada."

These brokers shouldn't represent boats they no nothing about. They are just in the way of the transaction. As in this case , everything related to the actual purchase in pushed on the seller anyway.

It’s kind of a love / hate thing. The deal with Brokers (for me anyway) is that they have inventory, they know what’s out there and there is at least some security when it comes to handing over your money. Not perfect and definitely not fully secure however, there are some real shady individual sellers out there and it certainly beats out dealing with this element.

 

[COCA COLA COWBOY]

The survey saved you...this is a great testimony for surveyors. The needed repairs are probably going to be more than the cost of the boat if drives are suspect.

I had a boat builder tell me years ago never to buy a truck or a boat from Texas sight unseen. He said those guys are hard on their stuff. I imagine Alaska guys are a rougher sort and probably hard on their stuff too. California guys treat their toys like jewelry for the most part. I'd say the Havasu crew is included in that and maybe some Loto guys. Florida is good weather all year round and has a potential for storm destroying boats. Good luck with your purchase.

 

[BingerFang]

Dodged a .50 cal bullet on that one!

 

[n2otoofast4u]

It’s kind of a love / hate thing. The deal with Brokers (for me anyway) is that they have inventory, they know what’s out there and there is at least some security when it comes to handing over your money. Not perfect and definitely not fully secure however, there are some real shady individual sellers out there and it certainly beats out dealing with this element.

The broker is the one that advertises in places that a potential buyer will see it, and in this case took and held the deposit. Do you think the owner of the boat would have sent back the deposit as quickly with zero issues!? Very likely not!

 

[PDQH2O]

Would it be worth continuing the sale but either drastically reduced price and/or added conditions like the motors being rebuilt by an agreed upon shop at the sellers expense?

 

[Duck'ed_Up]

What are you on the hunt for exactly?

 

[Cray Paper]

That boat has an exceptional pedigree.. engines and drives probably equal half it's value. Totally understand you are looking for something turn key but you are in the drivers seat with offering a realistic offer on that boat with documented issues. Would you consider offering the asking price less engine and drive rebuild? I bet the owner would take it with what you have provided with a condition report.

 

[Outdrive1]

That’s a big deposit.

 

[Paradox]

That boat has an exceptional pedigree.. engines and drives probably equal half it's value. Totally understand you are looking for something turn key but you are in the drivers seat with offering a realistic offer on that boat with documented issues. Would you consider offering the asking price less engine and drive rebuild? I bet the owner would take it with what you have provided with a condition report.

if it was everything it appeared to be, the price I was paying made it an attractive deal for me. While I wanted something ready to go, I do not think he’d take a $50k hair cut and, the time and effort needed to make it right (at this point in time) isn’t in the cards for me.

to @Duck’ed_up ‘s question, I’m currently looking for a 2005+/- big step 38+ with twin staggered/semi-staggered blue motors for the lower side of the $100k range, in reasonable condition. I’m okay with minor esthetic issues but it needs to be structurally sound and run good. Even then, I know it’s a tall order hence my nation wide and Canadian search. A Donzi ZR or ZX is my preference however, Fountains are more realistic in that price range.

On the plus side, I’m going to pay outright for it. Since 18-20 year old boats are hard to finance and, interest rates at that age are extremely high, I’m hoping this gives me a bit of an edge.

 

[Paradox]

That’s a big deposit.

I thought so too. 10%. They wouldn’t budge on it and I almost walked because of it.

 

[JL95]

Header prices always humble me so much lmao

 

[GaryC]

Wow, I'll bet it had a wet transom and stringers too. It did look great in pictures. Surveys are worth every penny.

 

[Paradox]

As an epilogue, things happen for a reason..

Ended up closing on another 07 Fountain 38 Lighting. It’s on its way from Florida now and should be here Sunday. It spent most of its life on LOTO. The last 16 months in Sarasota. Survey, sea trial and full mechanical review (via Innovation Marine) came back with zero Issues of significance.I had it serviced while there. Staggered 700s with number 6 drives. Factory test sheet says 115 MPH however, that was likely its best day. Really excited. This was the 5th boat we've had under contract over the last 2 years and the longest we’ve been without a boat for 30 years.

 

[FreeBird236]

Nice looking boat, have fun.

 

[Rennsport]

very nice looking boat! Sounds like this one is a much better choice!!

 

[Spitfire]

That is a beautiful piece. Congrats

 

[Jay Dub]

damn, that's a boat. congratulations!

 

[angiebaby]

That is a gorgeous boat!
Congratulations!

 

[Warlock1]

On the performance sheet you posted. I noticed that the water pressure on the engines are significantly different. Any concern there? What might that indicate?

 

[n2otoofast4u]

That’s a bad bitch!

 

[Paradox]

On the performance sheet you posted. I noticed that the water pressure on the engines are significantly different. Any concern there? What might that indicate?

I just assumed different pressures at different RPMs however, I couldnt say. No one has mentioned it either during the various reviews. Perhaps ramping up or down at slightly different intervals?

 

[Warlock1]

Most likely nothing to be concerned about as no one has said anything. It just stood out to me from a data perspective. I'd want to know why they are different at the same RPM and what could be causing it.

I just assumed different pressures at different RPMs however, I couldnt say. No one has mentioned it either during the various reviews. Perhaps ramping up or down at slightly different intervals?

 

[schweeng]

yes!!!! a big deep VEE coming to havasu...... that boat is gonna be a runner... you'll be the only one out there when the monsoon rolls in...now that boat will handle everything.

 

[PaPaG]

Congrats on your new boat, 700s vs 535s, nice step up in power.

 

[RichL]

Good looking boat and looks like a Manning aluminum trailer.

 

[HNL2LHC]

Congrats on the boat. Be sure to watch out for us little guys out there. Mayne a big air horn to warn those of us trying to break the half century mark.

 

[FROGMAN524]

Where will you run it? Congrats BTW.

 

[575cat]

I had the exact same boat only all white .

 

[pixrthis]

Congratulations, such a great boat.

 

[Cooter01]

Congratulations on the purchase!

 

[Wave Hi]

 

[COCA COLA COWBOY]

Very Nice!

 

[Paradox]

Where will you run it? Congrats BTW.

Here in Havasu but probably not next week, we’re spending a lot of time in town this summer. My wife retired last year and im probably a year or less out. We plan on some Catalina trips and perhaps LOTO as well.

 

[FROGMAN524]

We get enough guys with big twin Vs, we could start a Super V Fest West.

 

[Paradox]

I had the exact same boat only all white .

Nice. Did you do the ECU upgrades? What did you see top end?

 

[575cat]

I had the exact same boat only all white . I did but I never had the chance to ck I sol it shortly after .