|Topic Review (Newest First)|
|02-19-2008 07:54 PM|
|TomandKarens34||There is ALWAYS...ALWAYS... another boar/car/house/ etc. If you don't like the deal, always walk! The boat I bought was on Yachtworld for $24, 900 all summer. Then it just disapeared. OK. It was way beyond me anyway. Then, suprise! it showed up again for the "give-away" sacrifice price of $14,900! I called and offered $14,000, which was accepted instantly. ( Damn, I offered too much ) and I quickly added that I would have to include the haul and shipping with that price because I had no more money. The broker said he'd get back to me. He didn't call back, so I tried to call him and somehow I ended up talking to the outfit who was selling the boat, a charity organization. I told the charity official the truth, my wife didn't want me to get it, so all I could pay was $8000. He said the broker will contact you in 20 minutes. He was not a happy broker. Of course I had to pay the haul and shipping. Ended up $11,650 in my yard including the 6 new stands. Not a great deal, but not too bad, 1979 Irwin 34. It will cost about $10,000 more and two years more work to fix it up nice. But that is better "fixing" than just enough to get it in the water. I like the work and I like nice...|
|02-19-2008 02:33 PM|
Originally Posted by punjabi View Post
Basically this broker is trying to get you to counter your own offer. Don't fall for it -- one of the oldest tricks in the book.
Most P&S agreements include a "Time is of the Essence" clause, which essentially means that there is a limited time during which the offer must be accepted or countered or it becomes void. Exactly how long that time period could be is subject to interpretation, but the offeror is in the driver's seat. At any time you can provide written notice that you are withdrawing your offer for failure of the seller to accept or counter it.
Don't let this guy toy with you. Send him written notice that you withdraw your offer effective (date/time -- but make it a short fuse) if your offer has not been accepted or countered. Make sure you stipulate the immediate return of your deposit as well. Plenty of other boats out there...
|02-19-2008 02:03 PM|
Played and Being Played
When we were looking for a house many moons ago. I kept seeing this one house that my wife and I liked. First it was For Sale, then the For Sale part of the sign disappeared, but no Under Agreement or Sale Pending sign went up, even after weeks. Called my broker several times on it, and she kept saying it wasn't in the RLS Master List, so as far as she knows, it is not on the market. She called the listing broker a few times and never got a response. I asked her if she would mind if I called the listing broker making sure that the listing broker knew that we were working with our broker.
I called and said we wanted to know if the house was for sale and if so when can we look at it. 45 minutes I was inside walking around it and the listing broker said the house has a bid on it, but the sellers hadn't accepted it yet. She didn't know why it wasn't still listed in the RLS database as available as it very much was still for sale. I called our broker and made an offer a few dollars less than asking.
Our broker called a few hours and said that the sellers wanted to know if they could get back to us the next morning as both of their kids were sick. Our broker said something wasn't right, but she couldn't put her finger on it, but we agreed to the overnight wait. Sure enough, our broker was right. The listing agent called her next morning and sellers had suddenly accepted the initial offer.
My guess is that the sellers went back to the party with the initial offer, told them to up the money, else they would lose the house. It was on the borderline of unethical for all parties, because according to our broker, the house was not being listed fairly if the listing was removed from the RLS database.
Since then, I have made it a point to make an offer with an act on date in big ticket items.
When we purchased our boat, the asking was $27,500, I offered $24,500 with 48 h time limit, within hours the seller said $25,000 provided you close in three weeks. Deal was done.
|02-18-2008 04:41 PM|
DrB & T34c have the best suggestion: put a time limit on your bid so that illiminates the broker playing you. They can't possibly be so stupid as to risk losing a legit bid on a boat that's been there too long. That way you will force them to make a decision plus receive your deposit back if they reject it.
|02-15-2008 11:18 AM|
I think Cam- makes a great point. Sometimes there are interested parties who don't make an offer right away, but lurk for awhile and tell the broker to let them know if anything happens. You make an offer, the broker calls the other guy who then also makes an offer and starts a legit "bidding war".
When I make an offer on a big ticket item, house, boat, etc... I always put a time frame on the offer. The length of time used depends on what I think I can get away with. Our new house that we bought 1 1/2 months ago had had a big price reduction in a effort to get multiple bids. We knew we wanted the house so made an initial offer that was only good for 4 hours. WE made the sellers and the agent move fast enough to keep us on the hook that they didn't have time to work any other potential bidders.
BTW- This advise is worth exactly what you paid for it.
|02-14-2008 08:36 PM|
|teshannon||If you don't have a signed contract I would ask for it back. If you have a signed contract the broker should not be offering the boat to another buyer.|
|02-14-2008 08:30 PM|
|Freesail99||I would let it go for a couple of days, you really have nothing to lose and everything to gain.|
|02-14-2008 08:18 PM|
|punjabi||By the way, would you guys leave the deposit with the broker along with the current offer, or would you request that he send it back? He claims the out of town buyers are coming on Sunday to conduct a survey and if they fall through, I would be next in line. Sounds like bull, but I'm inclined to let it go another day or two to see how he responds since I didn't budge on the price.|
|02-14-2008 08:13 PM|
Act soon! Supplies are limited! Call now! Operators are standing by! This item won't last! Absolutely everything must go! Going out of business!
I guess people must fall for this marketing crap, but I'm less inclined to buy something that someone is trying to sell me. I always tell salespeople, "I might buy your product, but you definitely aren't going to sell me your product."
|02-14-2008 07:53 PM|
Isn't it funny how all those other offers fell through at the same time...
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