Question about Selling - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest > General Discussion (sailing related)
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 11-05-2009
Junior Member
 
Join Date: Jun 2009
Location: Connecticut
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
JoeAbb is on a distinguished road
Question about Selling

We are selling our boat and have some questions about the deal.
I have a potential buyer interested in the boat who would like to give a deposit on the boat now and Perform the Survey now and Sea Trial in the Spring. Than finish the Sale in the spring.

I would like purpose the following.

1) Complete Survey now with Sea Trial. (we are in Southern Connecticut)
2) I would like a 15% deposit on the boat that would hold it
until April 1st at which time ownership would transfer with the additional
balance due.
3) I would still continue to list / market the boat and give the potential buyer the right of First refusal if someone else wanted to purchase the boat now.

Is this unreasonable ? Would this be a deal breaker for you ?
I do not want to assume the risk that the buyer changes there mind in the spring and I have held the boat all this time,

1999 Catalina C320
Reply With Quote Share with Facebook
  #2  
Old 11-05-2009
Junior Member
 
Join Date: May 2006
Location: Aboard
Posts: 19
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
Faith of Holland is on a distinguished road
It seems you agree on survey now, and probably the deposit, however you should firm up what happens to the deposit should the buyer walk because of some precondition on the sea trial.
I don't believe it's out of line to either make the sea trial happen now, or to continue marketing your boat. I don't think you can ask for both. Either it's a done deal or it's not a done deal, and having the sea trial hanging doesn't quite make it a done deal. But the whole thing is really a matter of what you can negotiate with the buyer. None of its a deal breaker with me, but I'm not the guy buying your boat.
Reply With Quote Share with Facebook
  #3  
Old 11-05-2009
tommays's Avatar
Senior Member
 
Join Date: Sep 2008
Posts: 4,212
Thanks: 1
Thanked 24 Times in 24 Posts
Rep Power: 6
tommays will become famous soon enough
If the sea trial can be done NOW what would keep the deal from being compleated ? NOW
__________________
1970 Cal 29 Sea Fever

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

1981 J24 Tangent 2930
Tommays
Northport NY


If a dirty bottom slows you down what do you think it does to your boat
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #4  
Old 11-05-2009
Junior Member
 
Join Date: Jun 2009
Location: Connecticut
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
JoeAbb is on a distinguished road
Quote:
Originally Posted by tommays View Post
If the sea trial can be done NOW what would keep the deal from being compleated ? NOW
Buyer is in Canada and wants to wait until Spring. I am OK with
keeping the boat until spring, but if the final deal is not done until spring even with a deposit the boat to me is still available. I would return the deposit if I found another buyer.
Reply With Quote Share with Facebook
  #5  
Old 11-05-2009
erikdj's Avatar
Emerging Sailor
 
Join Date: Jun 2008
Location: Berkeley Marina, San Francisco, CA
Posts: 46
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
erikdj is on a distinguished road
I agree with the comments from the other folks. If you're going to allow the purchase to be delayed, then let the buyer delay the survey and sea trial, ask for the 15% deposit and right of first refusal if you receive another written offer. The terms of forfeiture of the deposit should be clearly spelled out with a specific date to complete the survey, sea trial and purchase.

Seems like a win for all concerned with those terms.
Reply With Quote Share with Facebook
  #6  
Old 11-05-2009
tommays's Avatar
Senior Member
 
Join Date: Sep 2008
Posts: 4,212
Thanks: 1
Thanked 24 Times in 24 Posts
Rep Power: 6
tommays will become famous soon enough
Its sounds like a lot of deals this time of year on who eats the winter storage costs
__________________
1970 Cal 29 Sea Fever

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

1981 J24 Tangent 2930
Tommays
Northport NY


If a dirty bottom slows you down what do you think it does to your boat
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #7  
Old 11-05-2009
cesarid's Avatar
SailGunner
 
Join Date: Sep 2003
Location: Missouri
Posts: 57
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 11
cesarid is on a distinguished road
First I think a 15% deposit is a little high. But why would the buyer put anything down if you are still going to market the boat? It should be either a deal or no deal and the buyer takes his chances by waiting. I would try to close the deal now, the buyer owns the boat, and you would just store the boat for free until spring.
Reply With Quote Share with Facebook
  #8  
Old 11-05-2009
MikeinLA's Avatar
Senior Member
 
Join Date: Jul 2006
Posts: 515
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 8
MikeinLA is on a distinguished road
Quote:
Originally Posted by cesarid View Post
close the deal now, the buyer owns the boat, and you would just store the boat for free until spring.
Bingo! My thoughts exactly.

Mike
Reply With Quote Share with Facebook
  #9  
Old 11-05-2009
Junior Member
 
Join Date: Jun 2009
Location: Connecticut
Posts: 21
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
JoeAbb is on a distinguished road
Quote:
Originally Posted by cesarid View Post
close the deal now, the buyer owns the boat, and you would just store the boat for free until spring.
I think that is the route I will take ..... Thanks everyone
Reply With Quote Share with Facebook
  #10  
Old 11-05-2009
Senior Member
 
Join Date: Jun 2006
Posts: 4,960
Thanks: 5
Thanked 18 Times in 18 Posts
Rep Power: 11
wind_magic has a spectacular aura about wind_magic has a spectacular aura about wind_magic has a spectacular aura about
If the buyer really wants to wait you could sell him/her an option to buy. That way you pocket a little cashola whether they buy or not, and all you have to do in return is take the boat off the market for a few months.
__________________
What are you pretending not to know ?

Please support my
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
question about selling a boat jbarros Boat Review and Purchase Forum 2 12-19-2002 05:05 PM
Selling a Boat Jon Shattuck Buying a Boat Articles 0 01-14-2002 07:00 PM


All times are GMT -4. The time now is 06:08 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012