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post #110 of Old 09-08-2009
JohnRPollard's Avatar
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Originally Posted by Curm View Post
Try dealing with that scenario if you've already signed the standard Yacht Broker's form. If you want to get out, say goodbye to your security deposit.

I get the impression that you've never read the standard purchase agreement used with boats sold through brokers.

In the standard boat broker purchase agreement, the contract language is tremendously advantageous to the buyer. As I previously mentioned, the language allows the buyer to survey and sea-trial the vessel, after which the agreed purchase price may be accepted by the buyer, or it may be subject to renegotiation or rescission.

If the buyer does not like the shine of the gelcoat, or the way the boat sails, or its speed under power, etc etc, the buyer may walk away or renegotiate-- at the buyer's sole discretion.

Provided you meet your obligations under the purchase agreement, there is absolutely no problem getting your deposit back. It is held in escrow by the broker -- the seller never touches it -- and in most cases your check does not even get deposited until the purchase is consummated (in the case of both boats we've purchased, our deposit checks were returned to us and we wrote a second check at closing for the full amount.)

Your approach -- surveying first -- seems devised to address a problem that doesn't exist. Either that or you have -- as some do -- circumstances where previewing a vessel yourself is problematic. But most folks can and want to have a look at a boat themselves before making an offer -- and will save themselves the cost of the survey if they and the seller are unlikely ever to come to terms on a purchase price.


Okay, those are just my opinions as a Sailnet member. But this thread was supposed to be a repository of helpful advice and tips for folks that plan to preview/inspect a boat themselves prior to making an offer. So now, as a moderator, I'm going to suggest that we take this other discussion to a new thread. If somebody wants to start a new thread titled along the lines of "Survey Before or After Making an Offer??", have at it. Let's not derail this one any further.

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Pacific Seacraft Crealock 31 #62

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