Fsbo

[JimHawkins]

Originally Posted by eherlihy

Today, I received an email from him telling me that he has slept on my offer, and he will split the difference between his 150% price and what he inferred I would offer.

My first job out of college I worked in a computer company. The head of the department had it in for one woman. She was horribly underpaid. He belittled her in almost every staff meeting. He spent his time running status on her workstation, and if she was idle for a few minutes he went and harassed her. Finally she went and found at new job at almost 70% more pay. When she gave him her resignation, he counter-offered to "split the difference" with her. And he seriously thought she would accept. I don't think he has a sailboat now, but you never know.

[Mimsy]

Here's the thing, there are many, many boats for sale. There are not many buyers, even fewer with cash in hand. I would tell him this next time he contacts you. I would also let him know that you are willing to buy hs boat at 50% of NADA value, deducting from your offer for "crazy" and pain in the assness".

[k1vsk]

No one in their "right" mind would expect a six figure boat (I am inferring $$$ here) to sell absent both a sea trail and thorough survey unless of course there are valid reasons the seller would prefer to not want either or both. There are too many other boats for sale to put up with what you described.

[bobmcgov]

Originally Posted by CBinRI

Sometimes I wonder if guys like this are only listing the boat so they can tell their wife they are trying to sell it.

Don't want to be macabre, but maybe if you can wait a couple of years you can buy it from his estate at 70% of NADA value.

Exactly. Dude will croak in a few years and his estate will dump the boat for 70 cents on the book-value dollar. Too many nice boats sold by nice people to waste your time on dodgy boats or annoying sellers. "For Sale By Ogre."

[sahara]

Originally Posted by kd3pc

I asked about haul and survey...NO, he says..you don't get the picture

Wow. A seller refusing to allow a survey? Talk about a red flag. As an owner, I'm very proud of the care and maintenance my boat has received under my ownership. If she were ever for sale, I would absolutely want the buyer to conduct a rigorous survey to give him confidence and comfort in the deal he's making.


A seller who refuses to allow a survey? Wow. Now I've heard it all. You were wise to walk.

[eherlihy]

Thank you for all the support. Sailnet ROCKS!

Because you have all been so supportive, I thought that I would share the conclusion of this deal.

To put this in context, the boat is currently in her slip, so beneath the waterline examination was not possible. According to his last email;

Up grades to current codes and specifications is not being offered.

However, below are two pictures of the bilge of this vessel. Other than the bilge, and a loose radar mast, the rest of the vessel looked as if it was never untied from the dock in the last 20 years.

These pix were shared with the owner in my initial follow up email.


I loved the tape and wire nuts. Any ideas about what killed the battery?

There appear to be keel bolts, but I shudder to think of what is left of them.



Here then, with minor edits and redactions, is the email reply that I sent to the owner after his offer to meet me half way (?!);

Mr X,

Thank you for showing some flexibility in your price.

I had hoped that my earlier email would show you that I am a knowledgeable buyer, that would appreciate and take care of Slip Queen. I suggested that she would be worth in the mid X thousands to me. I have not, however, made any offer, so I don't know where you are getting your figure from. Please do not make assumptions, or mistake me for a fool.

I am sure that you realize, that boats require constant maintenance and care, yet they are a depreciating asset. The longer you own them, the more money that you have to put into them, yet the less they're worth. Also, I am sure that you know that used boats are not selling briskly right now. NADA states that a boat of this model and year, in average condition, is worth $X. "An average retail valued boat should be in good condition with no visible damage or defects. This boat will show moderate wear and tear and will be in sound running condition." Slip Queen does not meet these criteria for the reasons that I detailed in my earlier email.

If you and your family feel that you are getting $X of enjoyment from her, then spend the money to have the keel bolts replaced, get the motor serviced, and have the electrical fixed - properly, and take them out sailing. Otherwise, sell her. If you decide to sail her, in her current condition, you are putting yourself, your passengers, and whomever comes to rescue you at risk.

If you decide to sell and wish to wait for some fool with 150% of NADA to spend, good luck to you, but be prepared for a long wait. I know of another same year and make boat that has been on the market in my state for over 5 years, yet still hasn't sold. Do you really want to wait that long? However, if you decide that you would rather sell her at a fair price, then I invite you to reply. Before you reply, please think about how often you sail her and whether you really want to sell her.

I am planning to look at three other boats of the same make and model next week. I will go through each of them as I did Slip Queen. Each of these boats is represented by a broker (who will take 10% of the agreed upon price), and I expect to find that they all meet the criteria of "average condition." All of these boats have more equipment than Slip Queen, and asking prices below 130% of NADA.

I suggest that you think very carefully about what Slip Queen is really worth to you and your family.

I finialized making arrangement to see the other three boats today.

[k1vsk]

It's difficult to infer from the pictures of the keel bolts and wiring precisely what condition either is in - the bolts may or not be fine under the surfacial corrosion and the wiring, as long as it isn't indicative of the entire boat, is easily fixed.
Regardless, to be redundant, "as is, where is" is a good way to quickly part with your money foolishly. Why pursue this at all?

[eherlihy]

CP - there was no broker involved. I guess that my point in this thread is that people should beware of For Sale By Owner

(I like bobmcgov's "For Sale By Ogre")

[Joesaila]

You are holding all the cards. Just communicating w somone like that is stressful and any reply you get will continue to be antagonistic. He has probably gone through life doing that to people and what you have seen of the boat is a reflection of his personality. That boat will be there after his demise. So enjoy looking at and negotiating with the many other 'nice' people that are out there.....it is a buyers market!

[Undine]

We just closed on our "new to us" boat. We spent 6 months and looked at around 20 boats. We made offers on 5. Two of the owners were out of line with their asking prices and refused to negotiate, didn't want to sell or needed the $? Two sold their boats to other buyers for less than we had offered, with contract signed (by us) and deposit check in our broker's hand. So there are some issues with some sellers which escape my comprehension. Boat 5 was bought for about 12% above NADA avg., with survey and sea trial.

An interesting note: This boat was "sold" about the time we started looking. However the deal fell through. It seems the potential buyer was senile, he remembered he was buying the boat but forgot from whom or where the boat was! So the oddities can occur on the buyers end as well.