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Old 06-25-2002
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HELP!! Question about making an offer with sellers broker

Chill out Herbster,

10% is the usual and customary amount of ''serious money'' when you buy a boat. It does not matter whether you have a Buyer''s broker, sellers broker, normal garden variety broker, or a person to person sale. The money is held in escrow and is used as part of your payment on the boat.Unlike some realtors, brokers do cash the deposit check. If the deal flops for any of the usual contingent clauses (Offer should be subject to Survey, sea trial, engine inspection, sail inspection, and getting financing) the ''serious money'' does come back to you. I when I first heard about this it sounded like a lot of money to me as well.

Good luck,
Jeff
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