This is my first post so if I've posted to the wrong forum let me know. I'm found a boat I think I want to buy but have not seen her in person. The seller is an private party not a broker. I would like them to hold the boat until I get a chance to see her this weekend. She is about an 8 hour drive from me. Is there a way to safely put up escrow money. I have a friend who is in the Bahamas right now and he said you could write on the back of the check "subject to survey or sea trails". The boat is under $5000 so I know it is not a huge investment but for me it is a large chunk of change. I have already lost one boat and I really don't want to lose a second. Any help would be appreciated.
Thank you
A sale of personal property may be made subject to the terms of a written contract, according to the law of the jurisdiction, usually the state where the property is located, or where the contract is formed, or where the parties specify. A check may include or create terms of a contract, which might be accepted upon endorsement or deposit. In fact, in some jurisdictions, a sale of personal property may not be enforceable without a written contract.
No one can properly advise you as to the effect of particular language on a check without knowing all the facts of the transaction and the particular laws of the applicable jurisdiction. So your friend in the Bahamas is full of ca ca.
There is more idiotic advice floated from supposed expert "friends" on this forum, than any other source.
Yes, you should have a written contract.
Yes, you should negotiate terms.
Yes, a buyer should make a sea trial and survey contingencies to the contract.
No, you should not buy a boat sight unseen.
No, you should not travel 8 hours to see a $5K boat.
No, you should not travel 8 hours to see a boat without extensive recent photographs, written representations of condition by the seller, and some knowledge and/or assurances about the authority and genuineness of the seller.
Newsflash: There are some dishonest scammers out there. How valuable is your time? How trusting and/or gullible are you?
No, you should never act like a desperate, foolish buyer by believing any particular deal is worth a great deal of expense and inconvenience.
Don't start out the negotiating process falling all over yourself and telegraphing your ignorance or desperation.