Strategy for making a conditional offer - SailNet Community
 
LinkBack Thread Tools
post #1 of 7 Old 03-22-2009 Thread Starter
Junior Member
 
Join Date: Oct 2008
Location: Toronto
Posts: 12
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Strategy for making a conditional offer

I have seen very nice boat for sale that I am thinking of putting forward an offer for.
I have seen the boat and am impressed with it compared to others I've looked at. The one and only owner seems genuine, has genuine reason for selling, and appears to have taken great care of her.
The asking price is $12500 (CAD), which I think is fair but I want to negotiate it lower, naturally. So I intend to put forward an offer conditional on survey (on land) and sea trial (at launch).

Would I make my conditional "offer" without specifying the amount, and then negotiate him down after survey/road test, or better to make the offer upfront (say $11500) also conditional on those things? Then should I provide some deposit (what would be fair?) to try and ensure someone else doesn't come along and buy her out from me ? If I provide deposit then I shall require everything in writing of course.

thanks,
don
campbdon is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 7 Old 03-22-2009
Senior Member
 
AdamLein's Avatar
 
Join Date: Nov 2007
Location: SF Bay area
Posts: 1,936
Thanks: 6
Thanked 7 Times in 6 Posts
Rep Power: 9
 
I think if you are making an offer it will need to have a monetary amount. Otherwise how does the seller know whether he likes your offer? Think about it from his perspective.

You don't necessarily need a deposit. I wouldn't pay a deposit on a boat unless I had some way of enforcing a refund should I decide to bail on the purchase following an unsatisfactory survey or sea trial. If you're going through a broker it's probably safer.

One option to "hold" the boat for you is to put the money in escrow, but probably that will be considered overkill for such a low-priced boat.

s/v Laelia - 1978 Pearson 365 ketch
s/v Essorant - 1972 Catalina 27
AdamLein is offline  
Quote Quick Reply Share with Facebook
post #3 of 7 Old 03-22-2009
Senior Member
 
bljones's Avatar
 
Join Date: Oct 2008
Location: South Coast Ontario
Posts: 8,484
Thanks: 35
Thanked 93 Times in 82 Posts
Rep Power: 9
   
By the sound of things there is no broker involved. An offer is only an offer if there is a) a monetary figure, subject to survey and sea trial, and b) a refundable/non- refundable deposit, unless the owner tells you that a deposit is not required. The "subject to survey and sea trial" condition gives you some leeway to negotiate your final payout downward if there are issues uncovered which you did not know when you made your conditional offer. The deposit is the seller's assurance that you are serious. Put everything in writing, and good luck- I hope this is "the one."
bljones is offline  
Quote Quick Reply Share with Facebook
post #4 of 7 Old 03-22-2009
Here .. Pull this
 
Join Date: Jan 2007
Posts: 2,031
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 10
 
Ordinarily you would make a written offer stating that you'll pay a certain price based on satisfactory seatrial and survey. The vendor may require a deposit, and then again may just take your offer on faith if you don't seem like an idiot.

Once you have had your survey and sea trial, you'll negotiate a final price based on the actual condition of the boat.

Don't, whatever you do, buy a boat without having it surveyed.

Good Luck !
Sailormann is offline  
Quote Quick Reply Share with Facebook
post #5 of 7 Old 03-22-2009
Senior Member
 
BarryL's Avatar
 
Join Date: Aug 2003
Location: Long Island, NY
Posts: 1,907
Thanks: 4
Thanked 57 Times in 52 Posts
Rep Power: 13
 
Hello,

As others have mentioned, you need to submit an offer, and have it accepted, before the deal can go any further.

TYPICALLY, your office is contingent on the results of a survey. That does not mean you have the right to renegotiate the price. It means that you can decided to buy or reject the boat.

In reality, SOMETIMES, after the survey, the price will be adjusted. In other situations the owner will correct certain items.

I have bought 3 boats and sold 2. I have never changed the price of the boat because of the survey (2 boats bought after surveys, 1 sold after survey). I did require the owners to make changes after the survey, but that was for minor things (some burned out light bulbs, run some rigging lines correctly, replace a belt on the engine, etc.).

So don't expect the price to change as a result of the survey. Offer what you feel is a fair price for the boat assuming you know the condition. If, after the survey, the boat is not as you thought it was, you probably don't want the boat anyway.

Good luck,
Barry

Barry Lenoble
Deep Blue C, 2002 C&C 110
Mt. Sinai, NY

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
BarryL is offline  
Quote Quick Reply Share with Facebook
post #6 of 7 Old 03-23-2009
Telstar 28
 
sailingdog's Avatar
 
Join Date: Mar 2006
Location: New England
Posts: 43,290
Thanks: 0
Thanked 17 Times in 13 Posts
Rep Power: 15
         
You need to have a number attached to the offer... Barry said it best:

Quote:
Offer what you feel is a fair price for the boat assuming you know the condition. If, after the survey, the boat is not as you thought it was, you probably don't want the boat anyway.
A refundable 10% good faith deposit is usually required...

Sailingdog

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Telstar 28
New England

You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

—Cpt. Mal Reynolds, Serenity (edited)

If you're new to the Sailnet Forums... please read this
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.

Still—DON'T READ THAT POST AGAIN.
sailingdog is offline  
Quote Quick Reply Share with Facebook
post #7 of 7 Old 03-23-2009 Thread Starter
Junior Member
 
Join Date: Oct 2008
Location: Toronto
Posts: 12
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Thanks for the words of wisdom!. I shall heed this advice and go forth. It will likely be either a Cal27 or Kirby8 (27')
...don
campbdon is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Consideration of A Strategy to Survive Heavy Weather / Seas in a Coastal Cruiser patrickstickler General Discussion (sailing related) 25 12-08-2008 08:04 PM
Boat offer prices? Ericson 29? southernsmoke Boat Review and Purchase Forum 16 03-23-2008 09:21 AM
HELP!! Question about making an offer with sellers broker Herbstr Boat Review and Purchase Forum 20 06-27-2002 01:08 PM
Mackinac Race Strategy Dave Gerber Racing Articles 0 07-18-2001 08:00 PM
A Lesson in Navigational Strategy Dobbs Davis Racing Articles 0 01-07-2001 07:00 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome