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Old 24-09-2005, 02:57   #1
Ram
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question on boat buying?

a question on buying a new boat

I recently sold my house & with the proceeds I will soon buy a new boat paying cash. My qustion is should I make the check out to the broker and the factory, or just to the broker , or factory.
I have already given a large deposit to the broker.
The broker is here in America and seems to be a really great guy, the factory is in France.


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Old 24-09-2005, 05:48   #2
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Wait

The final check is made to the broker following inspection of the boat and you are satisfied that everything is as you want. Even the broker is a "good guy", this is business and business dictates that you get satisfaction first and payment following.
There will be a closing following your inspection and acceptance. If anything is wrong, don't pay. Money is a great motivater. The broker understands this.
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Old 24-09-2005, 08:39   #3
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Look at your contract with the broker. It should spell out what you need to do. If your contract is with the broker the payment should be directly to him and it is his responsibility to pay the factory. In that case you will need a complete and total release of all leins from the broker at the time of final payment with language to the effect that the Broker is holding you harmless and agreeing to endemnify you for all causes of action related leins incurred against the subject vessel prior to the time of closing on the purchase.

I am not a lawyer and so you may need to consult a lawyer in your state, but that is how this normally works on a new boat purchase.
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Old 25-09-2005, 00:04   #4
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Thanks Jeff & Jim
I kinda thought this, but was not certain, because i have never bought a "new boat" before
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