Originally Posted by Minnewaska
The 10% deposit seems to have been cleared up, but I missed it. Just in case....... You don't send 10% with our first offer. You send it with the contract as soon as your offer is accepted, otherwise, you don't know what you're sending 10% of.
The way I understood it was when you went to make an offer, you took 10% of that offer and placed it as good faith so the seller knows you're serious.
Thanks for clearing that up!
Edit: We've been having some disagreement here, based on this new information (to us) and what we understood with our time with the broker. Just to clarify...
The Yacht Purchase Sales Agreement does not come into play until both parties have agreed on a price. Correct? And this document is not used until that time?
Is the offer then just verbal?