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Go Back   SailNet Community > General Interest > General Discussion (sailing related)
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  #11  
Old 10-10-2007
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Where I come from (MD), its common practice to continue to list and even show the house until it closes. Don't know why it would be different on a boat. I probably wouldn't let them sail it, for all the obvious reasons.
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  #12  
Old 10-10-2007
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You can show it and I see nothing wrong with that. You need to keep one thing in mind however - If the first buyer accepts the boat as is after the survey you must sell it to him even if you have a better offer. Probably the cleanest approach is to show it but not accept offers until the first deal goes bust.
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  #13  
Old 10-10-2007
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Ditto that...it is SO easy for a buyer to walk away or not be able to get financing and there is NO compensation to the seller. The seller loses valuable time in selling season. There is no ethical conflict as long as the prospective 2nd buyer is told there is already a deal on the boat.
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  #14  
Old 10-10-2007
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You should show your boat until you have a final deal.

You can anticipate that the buyer will come back with something after the survey. The something may be immaterial and you may be happy to concede and resolve the contingency. Or the something may be unreasonable and there is nothing as powerful being able to reference another interested party to help encourage current buyer to cut the baloney and get to his bottom line.
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I inquired about a pretty good deal on a boat listing this summer.

The broker said he had an offer pending survey. A back up offer in place with a deposit in had for that second offer plus a third offer in case the first two backed out. He then asked me if I wanted to be 4th on the list.
The boat sold at full price after survey to the first buyer.
I would love to have that sort of pressure to hold over the head of a buyer with some minor issues in the survey..."hey, turn it down, I have others in line waiting for you to back out"!!!

You are looking out for you, period. Line em up.
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  #16  
Old 10-11-2007
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If you've accepted a deposit, then you have entered into an agreement of sale, even if there is no written documentation. There is no real legal or ethical reason not to show the boat to other potential buyers, as long as you do not enter into a subsequent agreement with them to sell them the same boat.

Accepting a deposit from one of them could possibly be construed as a fraudulent act, if the person who gave you that deposit turned around at some point and decided to take action against you, claiming that you failed to make them aware that the boat was already conditionally sold. Probably unlikely, but there are some real unusual folk out there.

Not a bad idea to show it and line up some backup buyers, in case the deal goes south, but if they want to give you money, it would be much better to have it put into escrow with documents clearly outlining that it is accpeted as an indication of the buyer's intention to make an offer to purchase, and does not consitute a sales deposit.

The safest thing to do would be show the boat to as many other people who want to see it, explain the situation to them, get their phone numbers and call them if the current buyer backs out.
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