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post #227 of Old 08-04-2013
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Re: What Is A Boat Really Worth?

Originally Posted by sailpower View Post
...Can an agent of the seller act in any way against the sellers interest? I am wondering what the law is.
I'm not a lawyer, but I am an ethical person.

If there are known material facts that detract from the value of the boat, a "fair and honest description of the vessel" must include them. If "the law" prevents the broker from disclosing these facts because it is "against the seller's interest," then "the law" prevents the broker from complying with section 1.4 of the YBAA Code of Ethics.

If any lawyers care to take this on, please cite the specific statute that prevents the broker from making such disclosures.

Rick S., Swarthmore, PA
USCG Certified Captain, 50 Ton Master and OUPV
ASA Certified 101/103/104/105/106

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2001 Catalina 34MkII Tall Rig Breakin' Away, Universal Diesel M35B, Mantus 35 lb. anchor, sailing out of Rock Hall Landing Marina
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