I bought an ‘87 20’ Overnighter in 2013 (26 years old) with a running ‘03 225 and a trailer.
Paid $6,800.
The hatch over the tank was soft and the tank had leaks. I had A new tank made, replaced all the fuel lines and recored the hatch myself. That added about $1,100 to my purchase.
You know it didn’t bother me much to do that because I knew about it when I bought it, had fun working on it and was proud of the work I did when done.
I got a good season out of it and then the engine quit. To say I was not happy would be a gross understatement.
I got lucky at the end of the next season found and bought an identical engine with less hours for $2,200. Back on the water but now I’m up to 10,000.
Ok that was 8-9 years ago.
You’ve got a 26 year old 20’er with a soft floor, a tank needing replacing and no motor for $12,000 ?
I’ve cussed my boat and luck when the motor quit but suddenly I’m not feeling too bad about it now.
About 2 years back the trailer needed replacing so I got a new one with all the bells and whistles. That set me back another $4,400 after I sold the old trailer for $500. (Surprised I got that). Add a new Simrad sonar/gps $900.
So now it’s $15,400 and the boat is where I’m very happy with it.
Your willing to go $12,000 for this one that is obviously a project.
I get the feeling if you discovered it had a bad transom that’d kill the deal for you. I could be wrong but he seems to be asking a lot for the conditions it has and no working engine. There’s risk there. If it was half that price I’d say it might be worth the risk of a possible $2,500-$3,000 transom repair. There’s going to be another $1,000 for the tank. How much for the floor ?
You may want to get a surveyor for it to reduce your gamble as best you can.
Another thing, are you looking at a new outboard for it ? $20,000 ?
Your looking at a project boat between $30,000-$40,000.
I don’t think my boat owner experience is an isolated one with a lot of members here giving me an amen to that. I share it so you can ask yourself if that’s what you want to do.
My honest opinion unless you love boat building I think you’d be better off looking for a good used Grady in the $20,000-$30,000 range you won’t have to do anything with other that fuel it up and enjoy.