Join Date: Aug 2003
Location: Long Island, NY
Thanked 82 Times in 77 Posts
Rep Power: 14
Re: I screwed up. Any advice before I cut my losses?
Are you dealing with a reputable broker? Did you sign a contract? Have you read it? The typical YBA contract allows the buyer to back out and get the deposit back.
TERMINATION OF AGREEMENT: If the BUYER gives notice of his intention to reject the YACHT 36 under the terms of this Agreement, such notice shall constitute termination of the BUYER’s obligation to 37 purchase and the SELLER's obligation to sell, and the BUYER and the SELLER both authorize the 38 SELLING BROKER to return the deposit to the BUYER, after deducting any fees and charges incurred 39 against the YACHT by the BUYER, or by the BROKERS on behalf of the BUYER, including the cost of the 40 survey and related expenses.
Deep Blue C, 2002 C&C 110
Mt. Sinai, NY
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