Originally Posted by Finny
What do you think a fair amount to go in escrow would be? Obviously it depends on the boat and engine, but I've had a broker say ~$2000, but should it be more? Will $2000 cover any potential problems? It was the seller's broker after all...
$2k may be to much or too little. It completely depends on the cost of the boat.
Many brokers ask for an escrowed 10% deposit when making an offer on a boat (which is negotiable of course). I would think a similar 10% escrow pending completion of sea-trial would be reasonable, assuming the boat has otherwise surveyed well. Fair's fair.
If they balked, I would counter that the alternative is to postpone the settlement date until the sea-trail can be completed.