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post #25 of Old 06-17-2007
Cruiser/Lats and Atts TV
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OK, I worried about posting that purchase agreement. Even though I found it searching on this site, and evidently it had been used by others. I also said it was tailored to my circumstances, which includes the offer being half of what the boat is worth (it requires a lot of work which I have already gone over extensively). In addition, I know someone who knows both the boat and the owner quite well. And my insurance company does require a survey, however I was going to buy it anyway as the owner showed me his insurance survey from a year and a half ago after the installation of a new Vetus engine (boy are people going to jump all over that sentence, too - "gasp! You were going to buy a boat WITHOUT a survey?!" I wouldn't recommend that to anyone - including myself - unless you are A, getting a hell of a deal, and B, you know exactly what you are getting into). In my case, should the boat indeed have any "structural defeciencies or safety issues" beyond what I already know, I can either negotiate a lower price or back out of the deal and get my deposit back - which isn't even 10% of the purchase price. And, beyond that, even if I did end up losing the deposit due to my naivete or foolishness (something I sincerely doubt will happen, but being a realist, I know that it still could), it wouldn't hurt that much. I was willing to "bet" that deposit on my own knowledge and experience in order to get the boat before some other lucky guy did.

Lastly, my fault for not saying what I thought was abundantly clear: what I posted is not a 100%, bullet-proof document (are there any these days?). I mean, for Pete's sake people, I found it on the Internet for free! When I said it was simple and basic, um, that meant it was SIMPLE and BASIC. It was the best thing I could find that I tailored TO MY CIRCUMSTANCES.

I'll let you know how it turns out... :-)

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