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Old 07-08-2016, 14:05   #31
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Re: Sequence of events during purchase?

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Originally Posted by OrangeCrush View Post
Thanks all. I decided to have a friend go to observe the survey instead of waiting to be there myself. Everything still seems good but fingers crossed that it all works out! As usual, your advice is a big help.


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I think you should bite the bullet and make a deposit for your offer. Having someone there to witness the survey only gives you piece of mind for the survey its self. The surveyor works for you but does not care if you buy the boat. The survey is a separate issue than the offer to buy. Frankly, the buyer can agree to let you survey the biat but still not sell it to you without a contract.

We did somewhat like you are attempting to do but we had cash on hand and the survey was made the next day. We had a letter of acceptance before we did the survey. In other words, we knew the terms of the sale before anything moved forward and has a signed contract. Our low offer was based "as is where is, but pending acceptable survey". But again, with cash on hand and fast survey, the seller "wins" buy cutting down their iwn costs to carry the boat.

But, basically, what you are attempting to do is have the seller carry some of what should be your investment in the purchase. You have given nothing but are asking a lot of them to carry you for weeks until it is convenient for you.

If you are sincere in your wish to buy the boat, do the right thing and go back to the broker with a down payment. Move the survey up reasonably and be there for the whole thing if you can.

Otherwise the seller will just blow a raspberry at you. A low offer might be appropriate but the seller has to have a good reason for taking it. A quick sale is your best hope here as it gets the seller out of future financial obligations for the boat. Otherwise the seller is motivated to seek the highest price to recoup some of the costs for keeping it.
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Old 07-08-2016, 14:25   #32
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Re: Sequence of events during purchase?

Quote:
Originally Posted by OrangeCrush View Post
Thanks all. I decided to have a friend go to observe the survey instead of waiting to be there myself. Everything still seems good but fingers crossed that it all works out! As usual, your advice is a big help.


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I'm a little unclear. Do you now have an offer signed by the seller agreeing to your price and terms? If not, I wouldn't waste the money on a survey. If you try and negotiate at that point the seller knows full well that you have sunk costs in this deal already. You are a legitimate, motivated buyer. That means you have lots on your side of the negotiation. Tell them you'll order the survey immediately after they sign the contract.
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Old 07-08-2016, 15:19   #33
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Re: Sequence of events during purchase?

Its surprising how much difference there is between buying a boat in different countries.................
At least its good to see someone else demanding big discount. Cash is king. There is also always another deal somewhere else so dont sweat about the boat - however, there are usually not people lining up to put cash down.
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Old 07-08-2016, 16:20   #34
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Re: Sequence of events during purchase?

Buyers and sellers may agree to most anything. usually a valid offer includes a deposit and closing date. The deposit protects the seller from frivolous buyers and the buyer from sellers who attempt to create a bidding war by accepting a higher offer. Until the seller provides written acceptance no contract exists. Maybe some sellers will assume unlimited liability if they prove unable to fulfill the contract but most will laugh at you and hand back your offer. If I met a seller who agreed to to Orange Crush's terms I would want to investigate just why he is so anxious. If the seller cannot perform you might have a law suite but will probable lose money financing one. Buying a boat need not be complicated if both sides are reasonable.
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Old 07-08-2016, 20:44   #35
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Re: Sequence of events during purchase?

What happens when the survey finds something major? They are not allowing you to negotiate the price means you are getting stuck, unless the seller fixes everything found in the survey. You need to have the option of backing out if you don't like the survey results or the sea trial results.
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Old 07-08-2016, 23:05   #36
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Re: Sequence of events during purchase?

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Old 10-08-2016, 09:59   #37
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Re: Sequence of events during purchase?

I would be very surprised if the Seller was willing to allow a full survey including sea trial and haul out without an written offer and deposit. If you don't like the survey based on valid reasons (as you said you have seen the boat yourself) you can get it back. Or your broker can keep it on escrow for your next offer.

Make an offer and give a deposit. I would not spend fuel money and time for a buyers survey without it.
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Old 19-08-2016, 10:37   #38
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Re: Sequence of events during purchase?

Just wanted to say thanks for the help on this, everybody. We've got a signed contract, the deposit is paid, and the survey is on Monday. So far so good...


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Old 19-08-2016, 10:44   #39
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Re: Sequence of events during purchase?

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You should have a signed offer, aka contract, before you have a survey. The offer will have all the needed contingencies, such as pending buyer acceptance of survey, buyer acceptance of sea trial, clear title, and possibly loan approval. If you don't have a signed contract you don't have a deal. As I said before your offer should have an expiration. If the seller dicks you around then they risk you going somewhere else.

Yes.

And were it me, I'd schedule myself to be there during the surveys (marine survey, and separate mechanical (engine/genset) survey) to learn from the surveyors. Even if that means delaying things a bit due to travel commitments.

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Old 20-08-2016, 07:44   #40
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Re: Sequence of events during purchase?

Finger are crossed. Let us know.
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Old 05-09-2016, 08:10   #41
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Re: Sequence of events during purchase?

I'm the proud owner now and could be happier. I think I lucked out with a really good boat. Thanks for the help, all. Click image for larger version

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Old 05-09-2016, 09:18   #42
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Re: Sequence of events during purchase?

That's terrific. Congrats and wishing you many years to enjoy!
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Old 05-09-2016, 09:42   #43
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Re: Sequence of events during purchase?

Congrats. So all the contract issues worked themselves out. Having a motivated buyer and seller helps.
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