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Old 09-27-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

Quote:
Originally Posted by nmejicano View Post
I was looking for a Gemini 105 MC, I looked at several during the last year and found many in a sad shape and a few with exaggerated prices. Last Saturday, while inspecting an MC, we were pointed toward a 1996 M and we were very impressed with the boat, immaculate maintained with many extras, clean engine, new wiring, a 2100 dollar Garmin, a brand new dinghy, new upholstery, a new AC unit etc, etc, etc. So far the best boat we have seen. We offered the owner 15% less than the asking price, he counter offered and we offered 10% less than the asking price and he accepted. Here is the question and dilemma. On the Purchase and Sell Agreement accepting my offer he wrote, "No price reduction after survey". I know I can reject the boat, but then I will be out of the cost of the survey, haul out and my traveling expenses for an out of State trip. What do you guys suggest?
Thanks

He has accepted your reduced offer. Make sure your deal is subject to a satisfactory survey. If the boat is OK with only minor issues then you have already agreed to buy it at the agreed on price.

If the boat has major issues then the "subject to survey" clause kicks in and you pull your offer. Nothing stopping you at that point from making a new offer which would be likely your original offer less the cost of fixing the newly found problems.

The survey is for you not for the owner. It is your own cost and he should not pay for it up front or by price reduction

It is a used boat. Your offer was made and accepted on that basis. if you want a new boat then go pay someone else a whole lot more and get a beneteau ....

Mike
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