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wm00 · 27-03-2015, 08:56

I found a catamaran in the Caribbean but when I wanted to make an offer the seller broker (based in Europe) is asking me to pay him 5%. He refuse to take my offer without paying the commission. Should I pay him?

Southern Star · 27-03-2015, 09:16

No, the vendor is responsible for the commission.

wm00 · 27-03-2015, 09:24

Quote:

Originally Posted by Southern Star

No, the vendor is responsible for the commission.

I know that but how can I deal with this guy because he refuse to take my offer and present it to the seller.

**boatman61** · 27-03-2015, 09:37

Could be if it was a haggle price the broker split the commission to make the deal.. if he has, and has no proof he's told you he was going to do that inform him that its the sellers onus to pay it all..
so Seller pay's or you'll walk.. the owner keeps boat and bills.. broker lose's ? x $$$'s..
Hurricane Season starts in 2 months..

Steamer · 27-03-2015, 11:16

Quote:

Originally Posted by wm00

I found a catamaran in the Caribbean but when I wanted to make an offer the seller broker (based in Europe) is asking me to pay him 5%. He refuse to take my offer without paying the commission. Should I pay him?

If above story describes exactly what goes on, then broker's attitude lookes at least very strange. I would try to find this boat listed/(shown) by other brokers to work with.

**a64pilot** · 27-03-2015, 11:22

Find yourself a buyers Broker and let them deal with all that kind of crap, I bet if you had a Broker it wouldn't have come up. I assume they have some kind of professional association that polices this kind of stuff?

Cheechako · 27-03-2015, 11:29

Anyway you can contact the owner? Let him know the horsecrap that is going on....

smj · 27-03-2015, 12:19

Quote:

Originally Posted by wm00

I found a catamaran in the Caribbean but when I wanted to make an offer the seller broker (based in Europe) is asking me to pay him 5%. He refuse to take my offer without paying the commission. Should I pay him?

Tell him to suck eggs. Find a broker close to your location and make an offer through him. You will probably have to put down 10% earnest money and its always easier to deal with a broker close by if you have problems getting your 10% back if the deal falls through.

monte · 27-03-2015, 12:30

It sounds to me like the broker is asking for a 5% deposit, which is fair enough. I think you may have confused commission with holding deposit,subject to survey etc. not a bad way for the broker to sort out the serious offers from the tyre kickers. Or chances are he's just trying to jump in on someone else's listing and waving some $$$ around gives him so me leverage. Who knows. Let's guess the scenario for a few handed posts anyway.

FLLCatsailor · 27-03-2015, 13:21

Shoot me a PM. Definitely not the way that professional yacht brokers are supposed to operate.

Southern Star · 27-03-2015, 13:29

Good point Monte - I had assumed that the OP was correct in referring to it as a commission, rather than a deposit to accompany the offer (which is, of course, normal). Having said that, in my experience most brokers want a 10% deposit, whereas 5% is not unusual for commission.

Brad

sailorboy1 · 27-03-2015, 14:16

Just walk away, there's lots of boats around!

sailpower · 27-03-2015, 14:38

Certainly sounds like he is asking for a deposit in order to present the offer. This has been industry standard for a long time and it is usually 10% not 5%.

However, at least here in the USA, that is changing. In FL the purchase agreement used by the Florida Yacht Brokers Association requires a deposit after the offer is accepted.

If you are making a serious offer why would you object to a deposit if it is required? Of course it has to be stated in the contract that it is fully refunded if there is no acceptance. Placed in an escrow account, etc.