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post #11 of 26 Old 03-03-2008 Thread Starter
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Quote:
Originally Posted by JohnRPollard View Post
I've never rejected a boat due to survey, but I've had a seller reject my offer (what can I say, I'm a cheapskate). The e.m. deposit was returned immediately (in fact, the check was never cashed or deposited).
That could be the case this time. I feel like its a good offer but who knows what the seller might be thinking.

We'll know in a couple of days.

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post #12 of 26 Old 03-03-2008
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Good luck on the offer.

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post #13 of 26 Old 03-03-2008
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Quote:
Originally Posted by midlifesailor View Post
That could be the case this time. I feel like its a good offer but who knows what the seller might be thinking.

We'll know in a couple of days.
Your deposit check shouldn't be cashed until when/if the offer is accepted.

If your offer iswrejected, let us know...realize buying a boat is just like buying a used car...many participants expect to haggle, some price accordingly. You really don't know whether you have made a smart offer unless it is turned down..the market is slow, have another boat in mind you will want the broker to show you, be ready to say you are moving on. After a week or two you can go back...just be willing to pay up to what you have figured the boat is actually worth...don't ask the broker what that is.

Certified...in several regards...

Last edited by sailingfool; 03-03-2008 at 07:49 PM.
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post #14 of 26 Old 03-03-2008
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10% is normal

If you were selling would you take less?

My last purchase was battered back and forth..I held my ground they rejected..I walked...3 days later they came running after me...

It a buyers market...make it work for you...

fwiw...I am trying to sell a boat ...Haven't had one offer...

Edit: Oh...yes I did...1/3 asking price...
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post #15 of 26 Old 03-03-2008
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I've had at least 2 brokers say that they won't take an offer to the seller UNTIL I send real deposit money, 10%. Some here have said they negotiated first and then backed it up with 10%. HMMMM.

I've read that some buyers put a time limit with penalties for returning the deposit. If at any point you cancel the deal for legitimate reasons spelled out in the contract, the broker has 5 working days to return the money. The penalty is $100/day after that! Makes sure you get the money back in a timely fashion. Some brokers will hang onto the money so they have you on a leash to keep the negotations going.
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post #16 of 26 Old 03-03-2008
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Hello,

I have bought two boats from brokers.

The first time I made an offer, the broker took the offer to the owner, the offer was accepted, I sent 10% as a deposit, the boat was surveyed, I paid the rest at closing, sailed the boat home, etc.

The second time I made an offer to the broker, the broker presented the offer to the owner, the owner rejected the offer. The broker remembered some additional gear on the boat, I raised my offer, the offer was accepted, I sent 10%, the boat was surveyed, blah blah blah.

Barry

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post #17 of 26 Old 03-05-2008 Thread Starter
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Sigh...

So, I made an offer way, way above BUC, way, way above NADA, way above the average for the model from soldboat.com and $5000 more than the highest recent sale of a similar boat, yet still $13k below asking price. I thought my offer acknowledged this was a really nice example but after looking over the number again, I was wishing I'd come in a bit lower.

What happened? The seller countered $10k above my offer, a $3k concession.

Hope springs eternal.

Broker stridently tried to convince me how nice the boat was and that I really should up the offer. I acknowledged the boat was nice but that I would be more satisfied to miss out on the boat, than I would be making a much higher offer on it. Thanks, but I'll take a pass. There will be another. Much wailing and gnashing of teeth from broker.

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post #18 of 26 Old 03-05-2008
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Did you explain your reasoning to the broker? It's in his interest to sell the boat. 10% of nothing is still nothing for him. If you really like this boat, I think it would be worth the effort to make sure the broker is aware of how much a premium the buyer is placing on his selling price.

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post #19 of 26 Old 03-05-2008 Thread Starter
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Quote:
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Did you explain your reasoning to the broker? It's in his interest to sell the boat. 10% of nothing is still nothing for him. If you really like this boat, I think it would be worth the effort to make sure the broker is aware of how much a premium the buyer is placing on his selling price.
Yes, and he's quite typical of a boat broker -- Never letting facts get in the way of a good story.

He was all about how great the boat was yadda', yadda'.

Yes, I recognize that its a nice boat -- Thats why I offered $10k more than another identical model I had seen in person sold for, and $5k more than the highest sale for a similar boat last year BEFORE the gloom and doom set in. This one is definitely nice, but not worth $20k more than the one I looked at last year (I hadn't sold my boat yet, so wasn't postioned to deal on that one).

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post #20 of 26 Old 03-05-2008
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If the owner has set a floor, then the broker is stuck and will try to sell it at that price. After a while, the broker will ask that the listing not be renewed with him. He is wasting his time trying to defend the indefensable.
Most brokers would rather see a quick cheap sale rather than try to squeeze the last time out of a sale. After all, they only get 10% of that last dime, if that. Bird in hand...
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