Join Date: Feb 2000
Location: Annapolis, Md
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offer/withdrawel advice please
Most standard offers include a paragraph defining how long an offer is good for. You can fill that in as you see fit. 4 or 5 days is more normal.
With all due respect if you don''t mind a little advice, while you may be in a hurry to "retract the offer and move on" if you set a 48 hour limit on your offer you are likely to end up doing a lot more ''moving on'' than buying. Most of the deals that I have been involved in, which have actually ended up at the ''buyers'' price, have taken weeks to negotiate and typically wrap up after 2 to 3 rounds of offers and counter offers.
I think it is about the psychology of a short acceptance period. It is one thing if you are making an offer close to the asking price of the boat. Its another if you are hoping to buy a boat well below the asking price or buying a boat well below its percieved market value.
I suggest that if I were a seller and someone hit me with a lowball offer and only 48 hours to take it, I would come down very little. I figure the person isn''t serious and why tip my hand. By coming back with a small drop in price, I would try to see if that buyer actually has any real any interest in my boat or whether the guy is just shot-gunning offers hoping to get lucky.
My best advice is to identify a type of boat that really grabs you, find one that is in the condition you want, and spend the time that it takes to make the deal happen. If you are buying a commodity boat and one particular boat sticks out, stay with the negotiations until you''ve either bought the boat or until the deal is dead because you''ve really got nothing to loose. If it falls through there''ll be another along sooner or later. That is the nice thing about commodity boats.
But if you have something very specific in mind and it is not very common, I''ll repeat my brother''s advise to me when I was buying my boat, "In this situation, there is only three things to remember- 1. Buy the boat, 2 Buy the boat, and 3 Buy the boat.