Join Date: Jun 2008
Location: Fort Lauderdale
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Re: What Is A Boat Really Worth?
10% deposit has been industry standard for many years, usually accompanied by your first offer to purchase. Most but not all brokers did not deposit your check until and if there was an accepted offer. The check simply demonstrated good faith and often required a second, updated check once the counter offer was agreed to.
In order to streamline this sometimes cumbersome process and to facilitate more offers, the Florida Yacht Brokers Association has changed their purchase contracts to reflect that the deposit must be received within three business days of the seller signing the agreement. YBAA might have done the same but not sure.
Now it is much easier to make an offer.
BTW, generally you wouldn’t make simultaneous offers on more than one boat. What if they were all accepted?