|Topic Review (Newest First)|
|02-12-2010 09:28 PM|
|davidpm||Stay tuned, this event has raised a whole bunch of questions in my mind. I will kick off separate threads so we don't mess this one up.|
|02-12-2010 07:36 PM|
Originally Posted by elkscout View Post
|02-12-2010 03:18 PM|
|elkscout||Also, I'm not available to inspect the boat myself, so I'm going to have to rely on others. I thought about a survey, but from this thread, I might not be buying much assurance of the condition.|
|02-12-2010 03:17 PM|
|elkscout||This is really helpful. Sailingdog's comment brings me to wonder about a boat I'm thinking to buy. It seems really inexpensive (less than $6K), so I wonder if I should go to the effort of paying to pull it out of the water to inspect everything below the waterline. I assume that would typically be on the prospective purchaser, assuming it would be a costly method, such as using a crane. At the moment, the boat is in the water, so I hope a "sea trial" would at least be allowed. I didn't know about escrow, but would it be applicable to such a relatively small purchase? Any thoughts?|
|02-11-2010 08:20 PM|
I've started to write a post and deleted it at least four times. After two years just THINKING about the broker who sold us our boat spikes my blood pressure.
There are ways to get the AG off his/her backside. Right now you're just some guy who lives very far away. You just have to decide if it's worth the additional aggravation.
|02-11-2010 08:03 PM|
"but what about the code?"
"well, they're not rules exactly, more like guidelines..." -- Pirates of the Caribbean
|02-11-2010 07:59 PM|
Author weighing in once again
Well this has generated some interesting discussion. Truth be told once I was able to pull the information from the previous owner (took 2 weeks of e-mails) that there was actually a paper trail, I realized I had a leg to stand on. Without the hard evidence of documented e-mails I would have had just hearsay and it would have been worth nothing to the brokerage. I had contacted the MD attorney generals office and they told me that even with documentation, the cost would have been significant to me. Boat US has a fraud division that was willing to pursue the issue and would have listed the brokerage as undesirable on their website (actual action pending) and would have been willing to contact the Brokerage on my behalf. I even contacted the president of the Yacht Brokers Assn of America and what I was told was that they had only in 2006 enacted a code of ethics for brokers. This was not a legally binding code but that after multiple infractions could possibly result in the broker loosing their accreditation. Therefore what I learned from this was that in MD at least and probably most places, the broker are held to NO LEGAL OBLIGATION and therefore act out of personal ethics. I was told by a marine industry lawyer that I should just take what was offered and run. That since there is no legal obligation for brokers to tell the truth, that I was lucky to get what I got (and only from dogged determination and persistence). Therefore, unless I have a personal relationship with a broker going forward - I WILL NEVER TRUST A MARINE BROKER !!!!!!! and you shouldn't either - not until they are held to some accountability of their actions.
Some might say I was lucky, but I am sure I lost 10 years of my life due to pressure and stress - I couldn't let the SOB get away with what he was willing to do to my family.
Hence the story
|02-11-2010 07:40 PM|
I had no qualms in trying to circumvent the broker when I bought my boat. The ones I dealt with were not helpful.
Some broker agreements allow the seller to sell directly without broker involvement unless the broker was contacted first.
I was happy to find a private sale
|02-11-2010 07:14 PM|
Originally Posted by sailingdog View Post
Had he not received the electronic evidence from the PO perhaps they would not have stepped up? I believe his point was not to call out the broker or brokerage but to give everyone a heads up about what some folks will try to pull on you..
I suppose if you are one who is in the process of buying a boat in the MD area, and are concerned as to who the broker was, you could try and ask him nicely in a PM?
|02-11-2010 06:33 PM|
I'd point out that if everything that is said about the broker by Andy is true and documented, it is very unlikely that the broker would have any leg to stand on, since truth is a qualified defense for any libel or defamation action. I understand libel/defamation law fairly well as I was trained as a journalist.
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