US Practice of Deposit with Boat Purchase

[SaltyMonkey]

Originally Posted by Pelagic

I think at the end of the day, both Jedi and I would agree that:

“You never get what you Deserve, you only get what you Negotiate”

[Boracay]

I can see how a broker would not want "Buyers Remorse" to take his/her commission away after all the hard work that they have put in, or to cause the anguish that cancellation of a sale may cause the seller.

While a large deposit may "lock" the sale in I would suspect that, in the long run, and particularly in the current market, it would add negative aspects to the sale process that could have a highly adverse affect on price and the amount of time it takes to sell a boat.

[s/v Jedi]

--- clash of cultures ---

For international buyers, find a broker who is YBAA member and who uses the YBAA purchase & sale agreement. I have had that agreement checked in 2002 and it was fair and correct for international buyers at that time.

Also make sure that deposits get wired into escrow accounts only and in the currency you send (convert before sending or make sure you understand -all- rates and costs otherwise). I have seen US brokers with Euro escrow accounts and who accept the published daily conversion rates when Euro deposits are released from escrow. I even got interest on funds in escrow.

I can't say that there won't be the occasional rotten apple in the YBAA club (and the other way around: there will be decent brokers who are not YBAA member) but at least they require their members to conform to "a strict Code of Ethics and Business Practices ensuring that all business transactions follow the basic principles of fairness, accuracy, and honesty. The Code addresses broker relations with the public, clients, yacht yards and fellow brokers." This shields us a bit from that "all is allowed in business" mentality and their conduct is closer to what Europeans expect from international business partners.

I also think that US forum members should not react so aggressively to these kind of subjects. This is an international forum and there is a culture difference between nations and that includes the US. It is completely normal that people from Spain or France (any EU country) pop up here now and then with these kind of complaints and questions about US brokers, because the way it's often done in the US is experienced as completely nuts and even shady or outright conning by these buyers. Of course they get worried about loosing their money. I have no doubt that there will be a time when the dollar grows strong again and US buyers will shop for boats in the EU. They surely would not want to be ridiculed here either about their questions and worries and rants about any experiences.

There's another factor: as pointed out in this thread by others, EU countries like Holland are small compared to the US and so is their domestic market for anything, incl. tourism. Most if not all Europeans have passports and travel and shop abroad. This gives them experience in these matters, often from both buyer and seller perspectives, and they vent that experience here in this thread. This has nothing to do with which country is best etc. but it is how many take it unfortunately. I was once told that when experience talks, you listen good. So it isn't really helpful when that gets turned upside down where people who never even once did an international boat purchase start telling others who did how it's done.

and that's the last I post in this thread

ciao!
Nick.

[SaltyMonkey]

Originally Posted by s/v Jedi

...I also think that US forum members should not react so aggressively to these kind of subjects. ...

...where people who never even once did an international boat purchase start telling others who did how it's done....

and that's the last I post in this thread .

(wheeeeeh) Check check. Is this mike still on? Has the Australian prophet left the room? Ok...to business on hand...
We're not talking international buying or telling them how its done. We're talking buying in the good ol USA. We're not reacting aggressively. The complainers are.



ps: YBAA is very good ad-vice from nikki-boo

[Jim Cate]

Originally Posted by SaltyMonkey

All I can say is:

"Tie me kangaroo down, Sport. Tie me kangaroo down."

Oh SaltyM, if it were only true that this was all you could say...

[SaltyMonkey]

Originally Posted by Jim Cate

Oh SaltyM, if it were only true that this was all you could say...

Glad you asked!!! Ok, here then...lemme sing it to ya Jim me boy!

"There's an old Australian stockman lying, dying. He gets himself up onto one elbow and 'e turns to his mates, who are all gathered around and 'e says:

Watch me wallabies feed, mate
Watch me wallabies feed,
They're a dangerous breed, mate
So watch me wallabies feed
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

Keep me cockatoo cool, Curl,
Keep me cockatoo cool
Ah, don't go acting the fool, Curl
Just keep me cockatoo cool
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

'n' take me koala back, Jack
Take me koala back
He lives somewhere out on the track, Mac
So take me koala back
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

Let me abos go loose, Lew
Let me abos go loose
They're of no further use, Lew
So let me abos go loose
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

And mind me platypus duck, Bill
Mind me platypus duck
Ah, don't let 'im go running amok, Bill
Just mind me platypus duck
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

Play your didgeridoo, Blue
Play your didgeridoo
Ah, like, keep playin' 'til I shoot thru, Blue
Play your didgeridoo
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down

Tan me hide when I'm dead, Fred
Tan me hide when I'm dead
So we tanned his hide when he died, Clyde
And that's it hangin' on the shed!!
Altogether now!

Tie me kangaroo down, sport
Tie me kangaroo down
Tie me kangaroo down, sport
Tie me kangaroo down"

Cant git this darn song ouuta my head these last few days

[Boracay]

OK, so he does spend most of his time now painting the Queen, but here's the original...

Enjoy

[DeepBlueSea]

Jedi...Agree entirely with what you just wrote concerning this being internarional, that is the entire point of putting this into Global perspective on all matters. Holland may be small but its a very culturally and economically mature and wise country, as are all the other EU countries... and people should listen to that perspective with respect....need I say more?

[Doodles]

The reality of the cultural difference is there is really is not that much. We're talking about two Western cultures and the nuances of the the business side of boat buying. Everyone "understands" what the other is saying but the egos are really what's at play.

Now, try all this in an Asian culture where things really are very different. Language, alphabet, very basic business practices, how you approach someone, expectations, etc. etc. ... now you are talking real "cultural shock". So, lets not try and lay this on cultural difference ... at least not too heavily.

[downunder]

Originally Posted by Doodles

The reality of the cultural difference is there is really is not that much. We're talking about two Western cultures and the nuances of the the business side of boat buying. Everyone "understands" what the other is saying but the egos are really what's at play.

Now, try all this in an Asian culture where things really are very different. Language, alphabet, very basic business practices, how you approach someone, expectations, etc. etc. ... now you are talking real "cultural shock". So, lets not try and lay this on cultural difference ... at least not too heavily.

I always found in asia a bit of baksheeth always helped.

[avb3]

Originally Posted by Doodles

......
Now, try all this in an Asian culture where things really are very different. Language, alphabet, very basic business practices, how you approach someone, expectations, etc. etc. ... now you are talking real "cultural shock". So, lets not try and lay this on cultural difference ... at least not too heavily.

Having a lot of both Asian's and people from the Middle East up here in Canada, it is my experience that there are some cultures that feel that just because you signed and have an accepted PA that negotiations don't stop; for many that is just a starting point.

There is nothing like the concept of doing a deal on a handshake.

[SaltyMonkey]

Originally Posted by Boracay

OK, so he does spend most of his time now painting the Queen, but here's the original...

YAY! AWesome@@!! Classic and the pinnacle of australian high art!

[stillbuilding]

Re giving your bank details to complete stranger.
You pretty much do this every time you write a cheque surely. For the past ten years or so all of my business and personal transactions have been by electronic funds transfer - in Australia, Hong Kong and elsewhere. The only time I have had trouble was trying to purchase stuff from individuals or small businesses in the US. Banks pretty much got the security issues pinned down.

[Wotname]

Originally Posted by SaltyMonkey

(wheeeeeh) Check check. Is this mike still on? Has the Australian prophet left the room? Ok...to business on hand...
We're not talking international buying or telling them how its done. We're talking buying in the good ol USA. We're not reacting aggressively. The complainers are.



ps: YBAA is very good ad-vice from nikki-boo

Uhh... just who was this Australian prophet?, Surely Jedi is not an Aussie, was there someone else I missed?

And perhaps I am mistaken, but wasn't the OP asking about international buying?

This whole thread could perhaps be sumed as "when in Rome, do as the Romans do" - of course history tells us their way finally failed and perhaps we are now seeing the failures of the current "way".

[savoir]

Probably Saint Bruce of Wagga Wagga . . . . . . . . although some would say Saint Wally of Brisbane.