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Read the Contract
Originally Posted by Kacper
I am thinking of offering 8,000 K now after doing research tonight.
I am a first time buyer after all, and the broker knows that I was un-educated so it wont come as a big surprise. If I dont get it, I know there are al ot of other Cats on the market.
The haul out was cheap, just $100
on top of the survey, which was a little on the steep side, $455 - but I was happy with it.
I assume you signed a purchase contract. No contract, ignore the rest of this post...
If you did, you have better read it very carefully and very quickly, what you can do is entirely constrained by the flexibility permitted to you by the contract. This is the type of situation where having a friendly contract (i.e. not one prepared by the broker) is essential, or you may have bought yourself a boat at the offered price.
Does the contract give you a time window to cancel based the results of a survey satisfactory to you. If so, be sure to send a written notice by registered mail before the end of the window!!! You can always go back a day later and make a new offer...
Read the contract and ensure you avoid ending up legally obligated to purchase the boat at the offered price because you havent exercised your out, if in fact you have a simple out.
Last edited by sailingfool; 03-10-2007 at 10:27 PM.