SailNet Community - View Single Post - Looking for some perspective
View Single Post
  #12  
Old 02-25-2013
NaviGsr's Avatar
NaviGsr NaviGsr is offline
Senior Member
 
Join Date: Sep 2009
Location: NYC
Posts: 107
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 6
NaviGsr is on a distinguished road
Re: Looking for some perspective

Quote:
Originally Posted by AE28 View Post
I'm also confused by buyer vs seller, and agree with Rug's thoughts about no binding offer.
The normal procedure would be:

-Purchase agreement with offer amount and terms signed by buyer (normally w/deposit)

-Contract is then signed by seller agreeing to purchase price and all conditions of sale (usually survey, inspection, and sea trial).

-If the deposit clears escrow, the SELLER is bound to the purchase price and conditions of sale until the timetable runs out or the BUYER chooses to not proceed with purchase or fails to deliver final payment in time.

Again I would fault the OP's broker if new conditions were put into the contract he had already signed without his knowledge or verbal agreement. He has every right not to agree to the changes, but without his agreement, the contract would not be binding and the owner can sell to someone else.

Sounds like big communication failure between the two brokers.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook