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Old 27-05-2008, 12:27   #1
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Exclamation Views wanted

We are thinking of offering a price for a boat that is around these waters.
Part of the offer is that the present owners can have the use of the boat for 2 weeks of a year . obvious conditions apply : self insured, etc etc.
What are your views . ?
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Old 27-05-2008, 12:55   #2
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Just buy it!....or don't! Of course there's always a chance.....that they'd bite on something like that....ohhh, mebbe 1 in say... a billion???
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Old 27-05-2008, 13:06   #3
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Originally Posted by redbreast View Post
We are thinking of offering a price for a boat that is around these waters.
Part of the offer is that the present owners can have the use of the boat for 2 weeks of a year . obvious conditions apply : self insured, etc etc.
What are your views . ?
It can't hurt to ask.

But I say that with the caveat -- there is a great deal not said yet. Such as are the owners looking to sell and how much do they need or want the money? It looks like what you would in essence be offering them is akin to renting them back their boat. But for how long do you intend to do this? 1-2 years may be fine but what if it 15 and you want to sell the boat? Also, what if you don't keep the boat up to the point where it has perhaps has a problem during their two weeks -- who is at fault?

Are you planning to live on the boat? And if so, what happens when they move on for their time? If you aren't planning to live on board, why not charter yourselves?

I think once you’re really clear on what the contingencies are and how you will handle them, you’ll have a better idea on what the answer is.
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Old 27-05-2008, 13:10   #4
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Redbreast, I am with CChesley on this one (albeit for different reasons). Firstly, regardless of whether the current owners would accept such an offer, why would you consider it? It would be like purchasing a house with an easement that requires you to move out for a couple of weeks a year.

Quite apart from the logistical problems of arranging mutually acceptable/convenient weeks (and removing and then re-stocking your personal effects, etc.), it would mean that you can never take off on an extended cruise. It would also mean that your market for resale is extremely liimited. You would need to find someone who wants to sail the boat where she is (you could not likely satisfy the condition if the boat were moved a substantial distance) and someone else who is willing to take on such an onerous limitation as to use. Finally, i am not entirely sure how easy it would be for they (or anyone) to self-insure a boat owned by somebody else.

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Old 27-05-2008, 13:28   #5
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Part of the offer is that the present owners can have the use of the boat for 2 weeks of a year .
I would not put your purchase transaction into this type of risk.

One possibility is they take the offer and you are stuck with them for two weeks a year abusing your boat. The other scenario is they think you are giving them a low ball price and the plan to let them use it for two weeks a year is some strange negotiation tool. They either want to sell the boat or they do not. This is not normal nor could it ever be expected. You may have things you want as part of the deal as do they but don't add complexity when not required.

You want to act like serious buyers and that requires a written formal offer with earnest money for 10% down. That is the best tool for negotiating a purchase agreement. Sometimes it really is all about the money. This would be one of those times. Negotiating use of the boat after the sale can include what ever you both can agree to but it should be after the sale has closed not before or contingent on it.

Complicated deals just have too many ways to bog down in unstated details that keep coming back for clarification and renegotiation. Your best approach is a straight up deal that speaks to how much and when. Sellers need assurance your offer is sincere and that you will close swiftly. Everything else becomes a distraction to that end.
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Old 27-05-2008, 14:12   #6
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Either they want to sell the boat or they don't. Keep the deal clean. I would say NO.

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Old 27-05-2008, 15:22   #7
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Thumbs up Views understood

Yup i guessed it would be that way. Thanks for the sound advice it would have been for a limited period of 2 to 3 years and we were intending to take a year out on the boat, that condition would have been thrown in I can fully understand that a clean deal is a better idea, and i certainly do agree with most of what you guys say. Thanks for the help.
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Old 27-05-2008, 15:25   #8
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I also suspect that they will refuse the offer and that could have been a sweetener. There is not a lot for sale around these parts. we have to travel quite a way to see boats. this one is only 5 hours away.
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Old 27-05-2008, 20:06   #9
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Old 27-05-2008, 20:16   #10
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I also suspect that they will refuse the offer and that could have been a sweetener. There is not a lot for sale around these parts. we have to travel quite a way to see boats. this one is only 5 hours away.
Which one are you looking at.

I like this one, but I still have a house.

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