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Uncle G · 14-08-2018, 10:08

One could ask for a small amount of money ($50 or £50) to take them out ("to cover expenses" - then it's not a charter) on the understanding that it would be refundable if they buy the boat.
Then, if they are time wasters you won't feel so bad about wasting your time and you save the bother of contracts etc.

sailpower · 14-08-2018, 10:39

Quote:

Originally Posted by mocha

YIKES!!!!
never thought of that! SAD and scary,,,
Thanks for putting that in my head as well!!

Just sent the Potential Buyer an email suggesting three options before we leave the dock -

Buy the Boat
Agree on price - 10% Deposit
Don't leave the dock, raise the sails, test any systems he wants, etc

see how serious he really is,
THANKS,

Story from a neighbor of mine when selling his boat:

Prospect and spouse inspect $200,000 boat for 6 hours.

Later, Owner takes prospect and spouse for a half day sail, no contract or deposit or agreed price.

At the conclusion of the sail the prospect shakes the owners hand and says, “It looks like we have found our boat”.

Prospect turns to spouse and says, “Honey, time to put the house on the market”.

Nice people who truly believed that they were serious buyers.

He never saw them again.

What does it mean?

I guess some days you are the windshield and some days the bug.

Good luck!

Cadence · 14-08-2018, 10:39

If they have spent 2.5 hours seriously going through the boat, taking a day sail may be worth you while. I have no idea what a down payment and contract is worth if it has the contingency in there. You may just come to a gentlemen's agree that the price in non negotiable. Sometimes a little friendly goodwill goes a long way.

grantmc · 14-08-2018, 10:49

I would never buy a boat without taking it out, irrespective of whether it’s called a sea trial, a test sail or a splash; just like I’d never buy a second hand car without a test drive. And I certainly wouldn’t put down a deposit just to do this. Plenty of nice boats out there, owned by genuine sellers.
As the OP stated, it’s an old boat worth less than $15K so how else are interested buyers going to be ‘sold’? Similarly I’d be reluctant in spending the best part of a thousand dollars for a survey. As a prospective buyer I would pay for a lift to see the hull and rudder etc.

The OPs reluctance suggests to me he/she doesn’t really want to sell or is that there some serious defects?

I only bought the yacht I own because I was taken for a sail on a beautiful sunny afternoon. After sailing up wind we turned to return home. They then hoisted the most beautiful spinnaker I’d ever seen. Once it was flying I was given the helm. In my head I bought the boat at that point. A magical moment I’ll always remember.

So I would never hesitate in taking potential buyers out and share my enthusiasm and joy sailing her when I do come to sell. So what if some are tyre kickers, that’s life, at least you get to spend a little time with someone, perhaps make a friend. There are so many worse things to do than go sailing, especially on a well found and well maintained sail boat.

As for the post about the murders, grief, talk about spoil everyone’s day with negativity. Sure bad sh!t happens, it’s terribly sad. We all know that. What, we should all just stay in our beds in fear? All I can say is get a life, and smell the beauty of the roses.

**roverhi** · 14-08-2018, 11:06

You need to get some solid commitment from this buyer. A deposit, no matter how small, would be a minimum for me. When I tried to sell my first boat myself had a man look at the boat with his pre-teen son. Maybe wishful thinking but after he came back a couple of times and I took him out for a sail, was ready to deposit the forth coming check. I was being transferred so needed to get the boat sold but couldn't get him to make a commitment. Finally listed it with a broker but wanted a commission exemption for my 'buyer' if he came through. The broker asked me if by any chance my 'buyer' had come to look at the boat with a son and went on to give me a detailed description of my buyer. Turns out the guy was a notorious tire kicker who got his jollies off looking at boats and conning sellers into taking him sailing. If you want to go sailing, take him out but don't count on much unless he's willing to put some skin in the game.

Mithril Bham · 14-08-2018, 11:10

Although it is standard to have sea trial after the offer taking him out might clinch the deal.
What's the harm?

Dooglas · 14-08-2018, 11:27

Quote:

Originally Posted by mocha

ask for a deposit- making the sale contingent on his "Test Drive"

This is pretty much common practice in my experience. I have never bought a boat without a sea trial. I think any potential buyer is within usual practice to have a survey or other expert inspection performed, and to take the boat on a sea trial (with you aboard). And you are within usual practice to ask for a deposit and purchase agreement contingent on a successful survey/inspection and sea trial. The deposit is refundable if the buyer is dissatisfied with the survey or sea trial results. The purchase agreement includes a price, so it is essentially an offer from the buyer. If you go ahead based on this initial agreement you are accepting the buyers offer. It is not unusual for the offered price to be renegotiated if issues come up upon survey or other expert inspection.

Attikos · 14-08-2018, 11:39

You're risking virtually nothing by going out with him for a couple of hours. All it would cost you is a little diesel fuel.

If he gives you a deposit, he's running the risk he'll have trouble getting it back from you if he doesn't close. It's happened.

Looking at this from the perspective of a third party, the imbalance there is striking. Your risk is minuscule, his is substantial. Since you don't have a broker to do it for you, you have to make a judgment here. If you think he's serious take him for a sail. If you don't tell him you're sticking with the standard industry practice of allowing a sea trial only after a written offer with earnest money is made. The ball's then in his court.

svGenesis · 14-08-2018, 11:53

I had a simular situation,

I would ask for a contract pending inspection and sea trial. ask that the 10% down when finalized, then ask for a reasonable one time deposit ($100-$250) for your time and effort that would be used toward the sale but NOT refundable.

Thumbs Up · 14-08-2018, 11:55

All you people that say no are a bunch of prudes. When I talk to a potential buyer I basically need to know one thing: Are they qualified to buy the boat? What qualifies them? Having the money. If they don't have the money they are simply wasting your time. Get them to pull up a bank account on their smartphone and show you a balance. Or show you a bag full of money! Simple as that!

Dave22q · 14-08-2018, 12:03

Quote:

Originally Posted by DEAN2140

Most of the responses ask for a deposit and if you were working with a broker they would also. This leads to the question of whether you have a proper contract to offer him. Most contracts are subject to sea trials, which means the buyer can back out for any reason. The sticky area is the survey. Who selects the surveyor (you), who pays for the survey if there are defects and the buyer backs out and how are the defects resolved? If possible, you should obtain a "standard" contract, perhaps from another broker, and read it carefully to see what is involved. This is much more important than the possibility of being taken for a "joyride".

There is nothing "sticky" about a survey. The buyer hires th surveyor and pays the cost including haul out fees if any. He then has the option to buy the boat 'as is' at the agreed price or renegociate based on the work needed. It is generally the buyer's choice to to let seller arrange for repairs or accept a price reduction and buy the work himself after closing.

Whisper Cappy · 14-08-2018, 12:12

Most important is to have a simple contract written and agreed upon price. Deposit would be nice, but agreed upon price should be done before you perform a sea trial.

OndinePLC · 14-08-2018, 12:13

I wouldn't buy a boat without doing a trial sail.
When selling, I offer the buyer a trial sail for the price of a half day charter. If he buys the boat I knock it off the sale price.

Dooglas · 14-08-2018, 12:32

Quote:

Originally Posted by Uncle G

…...…..and you save the bother of contracts etc.

I know some inexperienced sellers have this attitude, but it is a big mistake. A "contract" is an agreement. It is as simple or as complicated as you choose to make it. At it's heart, it is an arrangement between two parties that is written down so that both parties have the "same" understanding of that arrangement. Why would you ever want that to be in doubt?