Join Date: Dec 2012
Location: new england
Thanked 63 Times in 59 Posts
Rep Power: 4
Re: Should I be scared??? What would you do???
Write a contingency sale is pending sea trial and survey. Bought a boat in the past in February . Put down 20%. Showed I had the other 80%. Closing was after sea trial . Owner/ broker were motivated to get that done ASAP .
Also bought a different boat. Did closing but had " hold back of 15% of price placed in escrow account. Made offer after survey on land and running engine with water intake feed by garden hose. Escrow released after boat commissioned and seatrialed.
In short,it can be done if owner/ broker are honest and want to sell the boat. If not amenable there's something up so stay away. In both my cases things worked out and got some money back for small stuff with second boat.