Help! My survey is done!... - Page 3 - SailNet Community
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post #21 of 47 Old 03-11-2007 Thread Starter
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Hey guys,

Yikes

Well. I sent the broker an email today outlining my reasons for dropping my offer down to 8,300

I didn't come to read your other posts before doing so

So, yes, I did say what the surveyor gave me as the estimated value.

PBeezer: I did go on the Sea-trial The boat sails great, engine works good.

Anyway - what's done is done, I offered 8,300 - I hope it flies. They might come back with $9,000 or tell me to get lost. I'll keep you posted.

Kacper
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post #22 of 47 Old 03-11-2007
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While I didn't read your contract... I am hoping that your wording of your counter offer doesn't lock you into the $12000 original offer... which might or might not be the case. Good luck.

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post #23 of 47 Old 03-11-2007
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Any buc value average value presented by the surveyor could/should have been offered to you before the surveyor ever boarded this vessel or any contract signed. That way you could have made an informed decision as to the basic value of the grp hole in the water. Why would you ever want to pay 12K for a vessel when it's value is substantially less? I have walked away from a few boats that were priced unrealalistically high where the price of the boat was partly based on hope and not on actual market price. If you pay 12K for this vessel you probably will have some difficulty ever receiving anything close to that when its put back on the market at a latter date. The choice is yours and it is your money, and it appears as though you are making good decisions back to back. You seem to be quite savy for a first time boat buyer. Salute!
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post #24 of 47 Old 03-11-2007
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Still puzzled about the question of your purchase contract, if any, and what constraints it has regarding the time to cancel the deal...
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post #25 of 47 Old 03-12-2007 Thread Starter
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Hi sailingfool,

Actually - I didnt mention I had a 30 day window on the contract, from the time of the survey, to come up with the money that both I and the buyer agrees.

It also says I will only stick with my initial offer if the survey of the boat is to my satisfaction, if it is not, I can change the offer.

We signed a 30 day window because I wouldnt have the money for 30 days. So I have some room and time.

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post #26 of 47 Old 03-12-2007
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Just remember that it is a buyer's market. There will always be another boat in even better condition for an even better price. Don't let the seller or the broker talk you into paying more than you already are.
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post #27 of 47 Old 03-12-2007
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Quote:
Originally Posted by Jotun
Just remember that it is a buyer's market. There will always be another boat in even better condition for an even better price. Don't let the seller or the broker talk you into paying more than you already are.
Spot on advice. I'd say if you can't get it for less than the surveyed value you probably ought to move on.

No matter what used boat you buy, you're going to be spending a lot of money on to repair it, equip it and make it safe and comfortable. If you start off paying more than the boat is worth, you'll only get more upside down, because the return on the stuff you fix/improve will probably not increase the value of the boat very much.

I hope you're able to come to terms since it sounds like a decent boat, but if you can't agree, there will be another and you will be better equipped to negotiate a fair deal on it. If you have to, take the hit on the survey and consider it a cheap lesson. Much better to walk away from a few hundred dollars than pay thousands more that a boat is worth.
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post #28 of 47 Old 03-12-2007
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Quote:
Originally Posted by Kacper
Hey guys,

Yikes

Well. I sent the broker an email today outlining my reasons for dropping my offer down to 8,300


Anyway - what's done is done, I offered 8,300 - I hope it flies. They might come back with $9,000 or tell me to get lost. I'll keep you posted.

Kacper
Given the boat as I read it here I would not go above your 8,300 offer in fact if they counter lower your offer to the surveyors value and if you really want the boat bargin back up to your 8,300. As many others have said, it's a buyers market now and this boat is not an unusual one where you won't find other examples easily.

FWIW

Jon D
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post #29 of 47 Old 03-16-2007 Thread Starter
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Hey guys,

Question

well, after the 8,300 offer, they came back with 11K

I put some thought into it, and after analyzing my situation, I found out I really didn't want to buy this boat because of some personal reasons coming up right now too, which make buying a boat right now not my main priority as I probably want to spend less time sailing right now, until maybe the summer.

I did the hard thing and withdrew my purchase on the boat.

Question:

Does this mean my initial 10% deposit on the $12K offer is toast? Or do I get it back?

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post #30 of 47 Old 03-16-2007
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If they rejected your offer, then you should get the deposit back. Your price adjustment was based on the results of the survey, and they didn't accept it. The only money you should be out, IMHO, is the cost of the survey and hauling the boat for it.

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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
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—Cpt. Mal Reynolds, Serenity (edited)

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