1976 Formula 26 foot boat (survey or no survey?)

[lenny2113]

I need help with this issue. <br />I know the engines are in great shape. I keep my boat on the same marina where this Formula is kept. I know the mechanic at the marina and as far as engines they are very well maintained. <br />It is twin 350 mercruisers. <br />What concerns me is the hull of Formula. <br />I opend all areas of the boat and it all looks solid with no traces of rot or water. Bilges are dry and clean. The fiberglass looks like it's a hand layed mat (woven cloth). But it is original with no repair patches. There is no visible cracks or anything like that on the hull (both outside and inside). <br /><br />Do I need a surveyer to check out the boat?<br />Any suggestions are apreciated.<br /><br />Thank you all,<br />Lenny

 

[Ralph 123]

Re: 1976 Formula 26 foot boat (survey or no survey?)

Why not spend the $300 or so and have it looked at? It could save you from making a big mistake.<br /><br />I have a 28' Formula with twin 350s that I rebuilt from scratch - only the original hull remains. The hull is a great offshore cruiser. It cuts through chop at high speed like a hot knife through butter! The heavy hull is as seaworth as they get - they are cored with 3/4" marine plywood rather than foam like today. Much better able to survive mishaps and just more solid all around. Have the guy let you take her out and open her up and you will see what I mean!<br /><br />with the twins she should be able to hit somewhere around 60-70mph (assuming thru-transom exhaust and nice 4bbl high perf carbs)<br /><br />If she is in salt water, find out the last time the mainifolds were replaced. If you are going to have a problem that is likely were it will be. If they haven't been done in the last couple of years I would replace them. Costly but it will keep you from ruining the engines if they go. Maintenance is almost impossible for the maifolds - water sits in them year round and rots the cast iron. If you get a penetration between the water channel and the exaust channel water flows righ down into the engine. Watch the temp gauges if you take her out. If they are blocked you will see the temp rise as you run. Also, if thru-hull watch the water flow and make sure it is steady and even from all 4 pipes.<br /><br />The next thing I would take a good hard look at is all the wiring - I would be concerend about corrosion. When I stirrped my 79 I found a fair amount of marginal wires - when you cut into them you can see the corrosion and brittleness of the copper - the saly water wicks right up into the wire and you can't even tell they are marginal until ypu cut into them. FOrmula (and probably every other boat maker) did not use individually tinned wires (I know for a fact that companies like Searay still don't). <br /><br />Hope this helps! If it works out, you'll love it! It really is a great boat. Here is mine:<br /><br />

 

[lenny2113]

Re: 1976 Formula 26 foot boat (survey or no survey?)

Thank you Ralph, <br />Your's is a beauty. My potential one has brand new manofolds and does have thru hull exhaust. <br />All engine parts are either brand new or 2001-2002. The guy took care of the boat because he has to, not because he wants to. <br /><br />Hull stractural dammage is my concern. But the guy spent 9000 dollars on the paint job of this boat. I don't think he would have done so on the bad dammaged hull. He fixed it to keep it and put all the best parts on it. I took it for a ride and it feels great.

 

[lenny2113]

Re: 1976 Formula 26 foot boat (survey or no survey?)

Ralph, <br />I should have mentioned:<br />When we water tested the boat it ran same temperature in both engines at low rpm as well as high. Oil pressure was same in both as well.<br />--------------------------------------------------<br />Can anyone suggest a fair "street value" for 1976 Formula in excellent condition twin 350 mercs, alpha-1 outdrives, GPS, Fishfinder

 

[Ralph 123]

Re: 1976 Formula 26 foot boat (survey or no survey?)

When you have it surveyed they will give you a replacement value and a insured value. You need a survey to insure the boat due to its age.<br /><br />My replacement value came out to $250,000 but the insured value was $28,000 due to the age even though everything is brand new except the outdrives which are Pre-Alpha rebuilds.<br /><br />I just looked at a 1982 Formula 272 (27' 2 engine) with twin 350s and the guy wanted $16,000 w/ the trailer. I am not sure about the age of the engines, etc (I was just looking for ideas for my boat)<br /><br />What is the guy asking for it?

 

[lenny2113]

Re: 1976 Formula 26 foot boat (survey or no survey?)

18k no trailer

 

[Ralph 123]

Re: 1976 Formula 26 foot boat (survey or no survey?)

In truth, if the engines and outdrives are new, and the electrical is good, then it is worth it. Especially when you consider it is already in the water at you marina. However, the survey has to be such that you can insure it for at least what you pay for it. My gut tells me to have it surveyed and offer him $15K

 

[magster65]

Re: 1976 Formula 26 foot boat (survey or no survey?)

Where I am you need a recent survey to insure a boat older than 5 years... period. I'm not sure if it's the same there but if it is you might as well do it first.

 

[Solittle]

Re: 1976 Formula 26 foot boat (survey or no survey?)

As in all older boats no matter how good they look and how new the machinery is you still need to have it checked for rot.

 

[Luna Sea]

Re: 1976 Formula 26 foot boat (survey or no survey?)

Guy at work just sold his boat. Got the $$$$$. Now the guy has it surveyed, for the insurance, and the arguing has begun. Do yourself a favor..... If there's nothing to hide, the seller will not object. Good Luck!