SailNet Community - View Single Post - Boat Buying Process
View Single Post
  #3  
Old 01-28-2005
Jeff_H's Avatar
Jeff_H Jeff_H is online now
Moderator
 
Join Date: Feb 2000
Location: Annapolis, Md
Posts: 6,538
Thanks: 5
Thanked 85 Times in 65 Posts
Rep Power: 10
Jeff_H has a spectacular aura about Jeff_H has a spectacular aura about Jeff_H has a spectacular aura about
Boat Buying Process

Like most aspects of buying a boat, the issue of the seller''s obligations to make corrections to defects discovered during survey, is another item that should be negotiated in advance of the survey. In most cases, I have required that the offer on the boat include a list of known defects at the time that the offer is being made (i.e. Items that I had already noted during my walk-through), and also ioncludes language that the seller will be required to adjust the price of the boat by up to 10% (the amount is obviously negotiable) for items listed in the inventory of the boat or which are essential to the safety, structural capabilities, durability or operation of the boat that are found to be defective or which do not meet industry standards. In including this type of condition in your offer, you can stipulate that the seller is 100% responsible, although in my offers, I generally write in that the buyer and seller are equally responsible for the costs of correcting the defect, except that the buyer may void the deal if the defect is such that the buyer considers it to be a flaw that the buyer can not live with.

Jeff
Reply With Quote Share with Facebook