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Old 10-08-2011, 09:52   #1
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Putting in an Offer

I am getting ready to sign up a purchase and sales agreement and effectively put in an offer on a boat that is listed at $30,000. I have it from the broker that the women selling will take $20,000 (some broker). I am thinking of putting in an offer for $17,500. Is this terrible? Is there anything stopping me from doing this? The boat is in pretty good condition and is essentially as it is described in the listing. Will the seller counteroffer after I put in my bid or does that only start after a survey.

I don't want to insult the lady or elongate the negotiating process unnecessarily but I also think if she will take 20 then maybe she will take less.

What do you think?
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Old 10-08-2011, 10:07   #2
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Re: Putting in an Offer

Who knows? Could be that any offer less than the asking price will offend her. Could be that she realizes this is a negotiation, and wouldn't be offended by any offer. Could be that the broker is right, or could be that he is full of it.

All you can do is make the offer and see what happens.
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Old 10-08-2011, 10:10   #3
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Re: Putting in an Offer

Yep, you have to start at least that low. If you have a good broker, he can nicely express the reasons you feel it's worth that much rather than just give a blind number. He needs to "sell" your offer! (Theres another boat listed at xxx, rigging is in need of update, sails worn, gel coat depleted, seacocks frozen blah, blah, blah) Typically she will counter offer pretty high. I would then counter her counter coming up only a couple of thousand. The best situation is to convince your broker that you are undecided between this boat and another one... but have decided to try this offer first! I have actually done this on houses... and I was serious, when I couldnt get where I wanted to be with the first.. I bought the other house when they did capitulate! I told the agent for house number one that I was looking at both, but she didnt believe me... the owner of the first house was pissed when I actually bought the second! Yeah... hard core I know...
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Old 10-08-2011, 10:15   #4
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Re: Putting in an Offer

Never be timid about offering whatever makes sense to you. The seller can do one of three things: 1 - Accept your offer; 2 - Counter your offer; 3 - Ignore your offer. If she accepts your offer - great! If she counters, the ball is back in your court and you get to decide which of the three options, above, you will choose. If she ignores your offer, so what? You can give it a little time, then submit another offer - it can be for more, less, or the same as your original offer.

The object is to engage the seller in a dialog, of sorts, though it will be filtered through your broker (and her broker, too, if she has one.) Once you finally arrive at an agreed-upon selling price, never forget that the contingency you included in the offer that it is subject to a full survey acceptable to you will effectively grant you the right to re-open negotiations after you learn what problems the survey reveals. In other words, just because you agreed to a price pre-survey, you don't have to buy it at that price if significant, costly repairs are turned up through the survey.

Never be concerned about "insulting" anyone with your offer. You aren't trying to make a new friend, you're trying to buy a boat. You may end up friends, but that isn't the point of the proceedings. Yours may be the only offer she has, or will ever receive, so take all claims of being insulted by your offer with a grain of salt.

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Old 10-08-2011, 10:19   #5
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Re: Putting in an Offer

I would offer and pay what the boat is worth to me. If it insults the owner and he refuses, what have you lost? Certainly not the boat, as it was priced over what you thought it was worth. The broker should be able to ask his client what his bottom line is and advise you if you are low-balling and or insulting. If both parties are happy with selling price, a good deal has been reached. Be honest with yourself about what it is worth to you and pay that or walk. Again the boat's worth to you is all that matters.
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Old 10-08-2011, 10:22   #6
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Re: Putting in an Offer

When I bought my boat I lowballed on my first offer because I felt the price the owners had set for the boat was a highball offer. The female of the couple, according to the broker, was very insulted and didn't want to respond but he explained that I was sending a signal and they should counter. Still it took some back and forth to get the price down to where I was comfortable with it. At close to half of the asking price that is pretty drastic but if the broker is correct then she should counter with something way below her asking and you'll know.
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Old 10-08-2011, 10:29   #7
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Re: Putting in an Offer

I don't have a broker of my own my stepfather and employer is a broker. But I do not employ one myself.
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Old 10-08-2011, 10:33   #8
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Re: Putting in an Offer

You don't need a broker representing you, the one representing her will do the leg work with regards to the offer.
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Old 10-08-2011, 10:37   #9
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Re: Putting in an Offer

show up with a wad of hundreds... cash always makes an impression. :P

i have had success with providing some basis for my offer...

as i will need to replace the electronics, the number i have in mind is X.

while it becomes more complicated with a broker in the middle, in this market, a seller does not have the luxury of being insulted.

-steve
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Old 22-08-2011, 21:42   #10
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Re: Putting in an Offer

The ketch I have how was first on the market at $65k at which time my wife and I concided putting in an offer of $55k, the wives cousin who was advising us at the time thought $42k "you have nothing to loose" he said. After some second thoughts we decided not to go ahead with the purchase and went on an O.S. holiday in stead,4 months later the bug bit me again and while looking through a used boat site there was the same boat being offered at $55k we made an offer of $40k which wasn't enough but we settled on $42k. I'm currently looking at up dating and from our experience my first offer is going to be 1/3 less than the asking price. A lot will depend on how long the boat has been for sale for. Hopefully no body on this site is selling one of the boats I'm looking at. As previously mentioned you have nothing to loose but more $$$$$$ to gain.
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