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Old 03-23-2002
JWag JWag is offline
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Curious Customs: Setting Price Before Setting Sail?

David:

You''ve gotten a good education on the subject from others on this board, so I won''t reiterate. Your comment that you wouldn''t commit money unless you were serious is understandable, but the nature of the transaction is that you aren''t really committing any money since your deposit is a refundable one.

That being said, it is important that you assure that the appropriate contingencies have been included in your offer. Once you''ve looked the boat over and have decided on a price to offer, make it contingent on your specific satisfaction with a professional survey and sea trial as well as your overall general satisfaction, all within a certain timeframe. Thus, you are able to back out for basically any reason up to the time that the purchase offer expires wthout losing your deposit. This level of understanding should be able to be readily acheived if a broker is involved because it is customary. If you are dealing with a private party however, they may not always agree right off the bat, but stick to your guns.
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