What did I do wrong? - Page 5 - SailNet Community
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post #41 of 77 Old 06-05-2016 Thread Starter
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Re: What did I do wrong?

I'm in CA, it's in an escrow account. I'm not too worried about it, it's a pretty well known brokerage here and I wouldn't expect them to just keep the check and not see if there's funds behind it.

What probably messed this up is that I didn't stick to my original offer right off the bat or walk, I waited for the survey report to re-negotiate. Honestly, if the main would have unfurled like butter (or close to it) and the sails weren't ripped I'd be sailing this weekend & this would have been a done deal.

It's been awhile since I bought a house & am rusty on the process.

Haven't heard anything back. It's back for sale for other offers now and they need to give me a yay or nay by tomorrow.
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post #42 of 77 Old 06-05-2016 Thread Starter
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Re: What did I do wrong?

I wasn't able to check the mail yesterday, in bed sick w/ a nasty ear infection. They did send my deposit back, what I think happened was to make this all legal they needed a signed counter offer to void it & they must have mailed the check after that.

Sounds like a done deal...
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post #43 of 77 Old 06-05-2016
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Re: What did I do wrong?

Quote:
Originally Posted by Heller Gregory View Post
I'm in CA, it's in an escrow account. I'm not too worried about it, it's a pretty well known brokerage here and I wouldn't expect them to just keep the check and not see if there's funds behind it.

What probably messed this up is that I didn't stick to my original offer right off the bat or walk, I waited for the survey report to re-negotiate. Honestly, if the main would have unfurled like butter (or close to it) and the sails weren't ripped I'd be sailing this weekend & this would have been a done deal.

It's been awhile since up I bought a house & am rusty on the process.

Haven't heard anything back. It's back for sale for other offers now and they need to give me a yay or nay by tomorrow.
You can't be expected to know the proper procedures if you don't do this on a regular basis. Generally it is normal for the sales contract to specify a length of time to accept or reject the deal based on the survey. The contract generally says you need to accept or reject in writing and absent a written rejection it is assumed that you accepted the boat.

When you reject a boat based on the survey, some contracts require that you name the basis, and others allow you to reject without stating a reason. In either case you need to specifically reject the deal.

If you wish to renegotiate based on the survey results, it is considered good form to list the defects discovered during survey and your new offer. But that needs to be in addition to a rejection of the boat based on the survey.

Normally a broker will prompt you to send in the written rejection on time. But also once you reject the boat, even if you have made a counter offer based on the survey, the seller can insist that the boat be shown as still being for sale.

This may be a negotiating ploy but from the viewpoint of the seller it makes no sense to have the boat off the market if there isn't a contract in place.

Jeff


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Last edited by Jeff_H; 06-05-2016 at 05:29 PM.
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post #44 of 77 Old 06-05-2016 Thread Starter
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Re: What did I do wrong?

Oh! It looks like the only thing that didn't happen was the written rejection before they put it back up. That actually may be due to working w/ a new broker, who might not know procedure either.

The status right now is, on Friday I signed a rejection of price based on survey w/ a counter offer good until tomorrow. They sent the check back though, so I'm wondering if that was just a formality?

I really don't think I was being unreasonable about the price @ all. It's OK though, I don't think it had been on the market very long when I put my offer in. They have an idea about what was on the survey & the value.
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post #45 of 77 Old 06-06-2016
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Re: What did I do wrong?

Hi Heller,

For me either price is far too high, this is a 15 year old boat, neglected and in need of several up-dates. Sails are probably the most expensive; from your texts it looks both have to be replaced (cost ~10 k). There are other B381 in the area ( = ca), all can't be neglected.
In today's boat market it is unusual that one gets the asking price, that is just what the seller wants. Reasonable to have a margin of 10-20%, in which range you have made an offer.

I myself would be worried of a Westerbeke engine with only 150 hours over 15 years. Then I have never really liked the Westerbekes (in the ad it says firstly Yanmar and then Westerbeke ... Yanmar I trust. Picture looks like a Westerbeke).

The boat seem to have been hauled recently, through-hulls renewed - that's good. When was the mast unstepped last time ... 15 years in that climate, probably time to renew all standing rigging (OK; not very expensive, expect 3-5 k), and running rigging (easy).

Then I do get the impression from your text that you really want this boat. Is it just impossible to have a serious negotiation with the broker? You are seriously interested, the broker wants to sell, you have made some good offers ...

Think you said on one of your posts that you had /have?) everything lined up, inclusive slip. What annual budget do you expect, and how does the difference in price compare with that?
(usually is more expensive to have a boat than to buy it ...)

ATB

J
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post #46 of 77 Old 06-06-2016 Thread Starter
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Re: What did I do wrong?

Hi,

It is a Westerbeke w/ 450 hours, don't know why it says a different engine w/ 150 hours?

Not sure what my annual budget is for this? I'm being realistic though, I'm thinking of it as almost a 2nd home...a nice weekend retreat & eventually sail it to SoCal to take care of my mom & have a retreat down there. I'm the sailor, most of my friends & family are not, so the furling in the main appealed to me because it's a lot easier to reef.

I do realize I have to replace the sails, which is why I went back to my original offer. The word I got back was they could repair the sails for a few hundred. They're the original sails, it's just not worth repairing.

They did a haul out to re-paint the bottom not too long ago. I had it hauled out for the inspection last week.

My thoughts on this is if I'm going to pay top dollar, and put more $$ in for sails, etc. & the price starts getting close to a new boat w/ a warranty - I might as well just get a new boat!

Plus I don't want to sail away & name my boat "sucker." I'm kidding, but there's definitely a price where you're paying WAY too much. Even the $98k is more than generous IMHO. I do like the boat though.

I'll find out today...
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post #47 of 77 Old 06-06-2016 Thread Starter
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Re: What did I do wrong?

What an interesting experience this has been - they never got back to me. My counter offer expired @ 5pm my CA time today & I called my broker, who then called their broker, who told me to wait another day because he hadn't heard.

So done w/ this. I keep giving everyone the benefit of the doubt here & I really just need to move on...
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post #48 of 77 Old 06-07-2016
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Re: What did I do wrong?

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Originally Posted by Heller Gregory View Post
What an interesting experience this has been - they never got back to me. My counter offer expired @ 5pm my CA time today & I called my broker, who then called their broker, who told me to wait another day because he hadn't heard.

So done w/ this. I keep giving everyone the benefit of the doubt here & I really just need to move on...

If the owner and brokers act in this way during the actual sale process, how will they act if anything goes wrong after the sale?

Just for that reason you should reconsider the benefit of doubt.

/J
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post #49 of 77 Old 06-07-2016
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Re: What did I do wrong?

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Originally Posted by Jaramaz View Post
If the owner and brokers act in this way during the actual sale process, how will they act if anything goes wrong after the sale?

Just for that reason you should reconsider the benefit of doubt.

/J
This is one of the best points made in this thread. Six or seven years later, I'm still in touch with the original owner of my boat. He's been a huge help understanding old work that's been done, whether certain systems were original, etc.

Add to that, there is plenty that can go wrong, just trying to close the sale and arrange delivery. You need two parties, each trying get the deal done. I would move on to one of the 30,000 other sailboats that yachtworld lists for sale. Yes, I was browsing this morning......
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post #50 of 77 Old 06-07-2016
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Re: What did I do wrong?

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Originally Posted by Heller Gregory View Post
...I really just need to move on...
Yes, you really do.

Sometimes, when you think that you have found "the one," it can be hard to accept that it is not going to work out and that you need to put it behind you. This is why I always tell people not to fall in love with a boat until AFTER they own it. Before that, it is just another business deal, and you have to be completely prepared to walk away at any time.

Good luck.
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