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  #1  
Old 09-26-2012
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Seller agreed to offer, but set a clause,"no discounts after survey"

I was looking for a Gemini 105 MC, I looked at several during the last year and found many in a sad shape and a few with exaggerated prices. Last Saturday, while inspecting an MC, we were pointed toward a 1996 M and we were very impressed with the boat, immaculate maintained with many extras, clean engine, new wiring, a 2100 dollar Garmin, a brand new dinghy, new upholstery, a new AC unit etc, etc, etc. So far the best boat we have seen. We offered the owner 15% less than the asking price, he counter offered and we offered 10% less than the asking price and he accepted. Here is the question and dilemma. On the Purchase and Sell Agreement accepting my offer he wrote, "No price reduction after survey". I know I can reject the boat, but then I will be out of the cost of the survey, haul out and my traveling expenses for an out of State trip. What do you guys suggest?
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Old 09-26-2012
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Seller agreed to offer, but set a clause,"no discounts after survey"

You can offer a price reduction and he can say yes or no. "Yes" and he sells the boat, no and you can buy it at the contract price or he can take his chances again on the open market.

Don't let that clause scare you.

Elan
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

If it's not a secret what was the asking price? Or "selling" for that matter?
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

That clause would kind of negate part of the reason to get a survey -- or sea trial.

Make the sale conditional on a survey with no issues and a succesful sea trial.

If you don't like whats found on the survey you can offer less, seller can take it or not.
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

if you are ok with the price and they find things on the survey, then don't buy until the problems are all repaired to your satisfaction. it's a buyers market
Counter offer with the same price but with your own clause that it passes the survey 100%
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

So he already dropped his selling price and "now" you want to add(subtract) survey and sea trial discounts on top....??Isn't that double dipping...?

Seems you should start at the "asking price...subtract the defects noted in survey/sea trial (which may be great or inconsequential) and then "discount" the offer even more if you feel lucky...

That's like negotiating best price on a new car and "then" asking how much for my trade in...
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

Quote:
Originally Posted by Summit_Elan View Post
You can offer a price reduction and he can say yes or no. "Yes" and he sells the boat, no and you can buy it at the contract price or he can take his chances again on the open market.

Don't let that clause scare you.

Elan
I agree and get the haul-out. We didn't as I believed some work orders that were misleading and we didn't see the need for the haul-out. After buying and getting the boat hauled there were bottom problems that have resulted in about $3000 in repairs we didn't count on. If we would of hauled the boat the need for those repairs could of been cause for us to not take the boat or put in a new offer and like Elan said he then would of had to of made a decision,

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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

as long as you can back out of the deal and recover your deposit if the survey uncovers issues you are fine. as others have said you can make a counter then. The key is for the sale to be subject to a satisfying survey so you're no locked in a bad boat.
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

Quote:
Originally Posted by Squidd View Post
So he already dropped his selling price and "now" you want to add(subtract) survey and sea trial discounts on top....??Isn't that double dipping...?

Seems you should start at the "asking price...subtract the defects noted in survey/sea trial (which may be great or inconsequential) and then "discount" the offer even more if you feel lucky...

That's like negotiating best price on a new car and "then" asking how much for my trade in...
thats the way it works with boats .Why would you pay for a survey before they except your offer?
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Old 09-26-2012
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Re: Seller agreed to offer, but set a clause,"no discounts after survey"

Quote:
Originally Posted by Squidd View Post
That's like negotiating best price on a new car and "then" asking how much for my trade in...
Um, sorry, but this is the RIGHT way to buy a car... They can offer you squat for your trade, or no change on MSRP, but if you negotiate the price of the car, then you see right away where they are making their money if they offer a terrible trade in price.

You either A) haggle the price of the new car, THEN B) haggle the trade in, or you haggle for a combined number that the salespeople would rather do so they can BURRY THE BUYER with numbers (this is a VERY old car sales tactic, and if they pull it on me I walk).

Nothing wrong with offering to buy the boat for X, assuming it in as good of condition as it "appears," by his non-expert opinion. If he then surveys the boat (at HIS expense), and finds NOPE that pristine motor is blown, then guess what, it was a "SURPRISE" he should offer a lower price based on that.

How is this any different than offering a price on a house, acceptance of the offer, then inspection of said house, and the inspector says GUESS WHAT there are termites? You telling me he's bound by his offer? for something he couldn't see? What's the point of an inspector again?
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