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Old 09-07-2011, 10:18   #151
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Re: US Practise of Deposit With Boat Purchase

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Ouch.. I understand value of their homes also dissipated somewhat after the boats to put on their docks went out...
Nick, I was just poking fun at your Dutch math.

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It tells us that the avg. assets per citizen is $242k and the avg. debt per citizen is $46k. So, in order to survive, every citizen will have to transfer 20% of the value of all their assets to the fed reserves to pay off debt. I do not think they can afford to do that.

In a different view: 46k debt per citizen times the number of citizens in FL (18.8 mil) is 864 billion which is way more than what it's worth. Impossible to sell :-)
You allow the citizen assets to be used against the Federal debt, but not Florida debt. Or maybe something was lost in the translation.

Carry on....
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Old 09-07-2011, 10:19   #152
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Re: US Practice of Deposit With Boat Purchase

Now you're talking, Nick... there are some great brokers out there, ones who are worthy of trust and good to do business with. In my delivery business, I met quite a number over the years. I recall several who approached their business looking for a win/win outcome. The seller moved their boat and the buyer got what he was looking for at a reasonable price. Much of it had to do with the broker conditioning the buyer and the seller of the realities of the market price and vessel conditon wise.
I've also met a few from whom I wouldn't buy a cup of coffee. How do they say in the brokerage business you ask? Because they will fail at whatever else they do in all probability.
The 10% earnest money IS negotiable because I've done it as have friends of mine. Mind you, the broker has to feel that the buyer is sincere and not just a time waster. This can be done by a simple D&B or credit report. It's business for goodness sake!
Another factor to remember is to fuse the offer. You have other buying opportunities and the broker should be armed with this to help him/her in discussions with the seller. If the offer expires in 48 hours, that may be enough to move many sellers towards a sale at a price that is close to FMV.
I believe the recreational boating landscape is changing in the US. The brokers who are nimble and are looking to change with the business environment will survive... others will not... just my opinion... Capt Phil
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Old 09-07-2011, 10:39   #153
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Re: US Practice of Deposit With Boat Purchase

Any broker that would not at least make the offer to the boat owner with a photocopy is not doing his job! It's not like people are beating the doors down to buy boats! I have bought and sold a boat in Florida in the last 2 years and both transactions used a photocopy check to get it going.
To the OP: just talk with the broker, let him know you are serious. Tell him you are reluctant to send money just to make an offer but could photocopy to show your "good intent" if he wishes. I assume you are making an offer in writing on the normal broker's contract form. (?) (BTW: Make sure your offer has a time limit for acceptance) If an agreement is reached on price and terms you will wire or overnight a deposit pending inspection. Also, even $500 earnest money is often acceptable... You are in control! it's a buyer's market...
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Old 09-07-2011, 10:59   #154
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Re: US Practice of Deposit With Boat Purchase

i dunno about you guyz, and not to troll or anything, but I sense a real lack of credibility here. If people were really interested in buying boats in the USA, (and I mean really interested) instead of posturing about business practices and this and that "property they own" and what knotz, they certainly wouldn't worry about 1) some brokers out of a gazillion boat sellers 2) a simple 10% deposit. They would want the boats and challenge any of these little gates and push back.

I say, show me some action. Until I see some people actually seriously buying, I can only assume I smell tire kickers and any complaints as merely deflections from that.

With all the costs of buying a boat (commissioning, refitting, transportation, taxes, export fees etc etc), I just can't believe someone from overseas would contemplate buying a boat over here just for an exchange rate and base price. Its just not cost effective IMHO. And maybe the brokers sense that and thats why they want that 10%. They are challenging them.
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Old 09-07-2011, 11:05   #155
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Re: US Practice of Deposit With Boat Purchase

There are many facets to a purchase contract. Putting money upfront is just one of them, it simply makes a more attractive contract to the seller.

Asking a seller if they'll accept less than asking price with no other terms given is simply a waste of time.

- Will the buyer want a full survey and all repairs paid by the seller?
- Does the buyer have cash or is the transaction dependent upon the buyer finding the money?
- How long does the seller have to wait for the money?

It's all negotiable.

The buyer putting money upfront is telling the seller that if he agrees with all the terms offered and the buyer backs out for some reason not agreed to, the buyer forfeits the earnest money. It simply makes the contract more attractive.

So, put your offer in writing, and put your money where your mouth is. Blah, blah, blah with no money is worth less than blah, blah, blah accompanied by money. It's not personal, it's just business. You play your cards the way you want.
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Old 09-07-2011, 11:11   #156
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Re: US Practice of Deposit With Boat Purchase

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i dunno about you guyz, and not to troll or anything, but I sense a real lack of credibility here. If people were really interested in buying boats in the USA, (and I mean really interested) instead of posturing about business practices and this and that "property they own" and what knotz, they certainly wouldn't worry about 1) some brokers out of a gazillion boat sellers 2) a simple 10% deposit. They would want the boats and challenge any of these little gates and push back.

I say, show me some action. Until I see some people actually seriously buying, I can only assume I smell tire kickers and any complaints as merely deflections from that.

With all the costs of buying a boat (commissioning, refitting, transportation, taxes, export fees etc etc), I just can't believe someone from overseas would contemplate buying a boat over here just for an exchange rate and base price. Its just not cost effective IMHO. And maybe the brokers sense that and thats why they want that 10%. They are challenging them.
Hear, Hear.

Can we talk about anchors or guns onboard now.
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Old 09-07-2011, 11:22   #157
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Re: US Practice of Deposit With Boat Purchase

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i dunno about you guyz, and not to troll or anything, but I sense a real lack of credibility here. If people were really interested in buying boats in the USA, (and I mean really interested) instead of posturing about business practices and this and that "property they own" and what knotz, they certainly wouldn't worry about 1) some brokers out of a gazillion boat sellers 2) a simple 10% deposit. They would want the boats and challenge any of these little gates and push back.

I say, show me some action. Until I see some people actually seriously buying, I can only assume I smell tire kickers and any complaints as merely deflections from that.

With all the costs of buying a boat (commissioning, refitting, transportation, taxes, export fees etc etc), I just can't believe someone from overseas would contemplate buying a boat over here just for an exchange rate and base price. Its just not cost effective IMHO. And maybe the brokers sense that and thats why they want that 10%. They are challenging them.

It really does depend on the exchange rate to be honest, in 2006 you got $2 to the UK pound...today its down to $1.59, depending on how much you spend on the boat that could mean a diiference of 50 and $60,000 in savings from the person holding the Sterling (UK pounds)....not sure why someone calling long distance would be a ¨tire kicker¨? for what reason? If I saw a boat that was maybe $30,000 outside my range that I quite liked the look off, I would be curious as to what the seller MAY be prepared to sell at?. Might it be in my range?...but whats the point in me going to all the trouble of making bank transfers etc, only to then be told that the owner wont reduce, then what? I have to get that money returned, there are bank charges, etc! Absolutely ridiculous......its a simple question, is that boat potentaily in my budget? Whats the bloody point in sending money over if the anwer is a simple NO! Loco, Loco...este Vida loca....
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Old 09-07-2011, 11:24   #158
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Re: US Practice of Deposit With Boat Purchase

Thanks, jim767... we finally morphed to a gun thread! CP
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Old 09-07-2011, 11:34   #159
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Re: US Practice of Deposit With Boat Purchase

I think when you add up all the ancillary costs of getting a boat from overseas, its cheaper to look in your own neighborhood is my point. Even 30k less off the asking price, is not much of a bargain.

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Old 09-07-2011, 12:40   #160
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Re: US Practice of Deposit With Boat Purchase

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Tell him you are reluctant to send money just to make an offer but could photocopy to show your "good intent" if he wishes.
Mmmmmm. Not sure on which planet it would be considered sane to send your personal bank details to a complete stranger

In any event a photocopy is simply just 100% meaningless as any sort of surety - it's just giving a potential buyer a pointless hurdle to get over (and if the Buyer understands that - then I can't see why they would not simply go elsewhere). May as well ask to see a photo of the buyer standing on one leg wearing a top hat


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Old 09-07-2011, 12:41   #161
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Re: US Practice of Deposit With Boat Purchase

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I think when you add up all the ancillary costs of getting a boat from overseas, its cheaper to look in your own neighborhood is my point. Even 30k less off the asking price, is not much of a bargain.

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Its not $30,000 off the asking price, its the saving you make if you time it right, it means your currency is worth more in another....how can i put it? Its like saying my 100,000 UK pounds is worth 35% more in the USA depending on the exchange rate.....so you end up being able to buy aboat in $ that you would not perhaps have been able to afford in UK pounds! Not sure if that makes sense or if one of the other guys and gals can explain better!!
Ive seen boats in UK at ex pounds.........then ive seen them in USA at ex $, however, when the pound strengthens v the $ that boat in $ becomes cheaper for the brit, sometimes MUCH cheaper! the other thing you are forgetting is that some cruisers may not want an Atlantic crossing and are happy to pick up a boat already in the place they wish to cruise, savings there as well!!
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Old 09-07-2011, 16:34   #162
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Re: US Practice of Deposit With Boat Purchase

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I say, show me some action. Until I see some people actually seriously buying, I can only assume I smell tire kickers and any complaints as merely deflections from that.
The way I see it.. I did seriously buy Jedi in Florida and you're just dreaming about owning a boat

ciao!
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Old 09-07-2011, 16:48   #163
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Re: US Practice of Deposit With Boat Purchase

The owner already said what his price was in the listing. And set the terms for bids and earnest money. Take it, bid, or leave it. No whining. When I bid on a boat in lying in Singapore I wired the earnest money from the USA to the broker in Australia. Cost maybe $10. He had a USD account so there were no currency issues, but that would not have been any big deal either. As a sometimes boat seller I know that there are too many lookie-loo shoppers out there that are not serious, don't have the money, just like talking, that earnest money deposits are a great way to go. Weeds out the riff-raff.
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Old 09-07-2011, 17:22   #164
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Re: US Practice of Deposit With Boat Purchase

Some of best friends are riff-raff... CP
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Old 09-07-2011, 17:26   #165
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Re: US Practice of Deposit With Boat Purchase

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The way I see it.. I did seriously buy Jedi in Florida and you're just dreaming about owning a boat

ciao!
Nick.
I dont know how I have anything to do with your mistakes.
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