Originally Posted by turfguy
I am the only loser if my offer is not accepted. Who else loses anything? Seller, broker? Nope just me and the use of my money till someone decides to send it back to me, which could be several weeks.
On the other hand, the whole process in general looks to be skewed towards the buyer. A buyer can reject the boat for numerous trivial reasons. Almost no boat is perfect and it's pretty easy for a buyer to find something they don't like, whether they really don't like it or they just want to get out of the deal because they got cold feet. On top of that once the seller has accepted the offer he can't sell it to someone else. He is locked into that one buyer though the whole survey/inspection process. If another buyer comes along he can only take a backup offer. What if the second buyer goes away because he doesn't want to wait to and in the end the initial buyer pulls out because of some inspection technicality? With all this I don't see 10% as unreasonable. The buyer get's it back anyway unless he simply defaults.