When Do You Walk Away ?

[boden36]

James, have you thought about employing a good negotiator? They will hopefully be skilled at the task of buying something for what it is worth and may save much more than they cost.
Regards, Richard.

[Chief Engineer]

Most people think their boat is worth more than what it really is.

For meto meet that offer.....I would have to be absolutely "turn key" without any gremlins.

Walk away.......

[shadow]

I agree with most everyone.. If you are already having doubts or concerns about should you, shouldn't you, just walk and give it a while to settle, it may be clearer tomorrow, or even better, a better yacht comes along..

[nautical62]

I walk away when ever it's clear that it is not what I want for what ever the best price is I may negotiate.

During my last boat search, I looked at a Morgan OI. The survey uncovered all sorts of problems. Even if the boat would have sold for 1/3 asking price it would not have been worth it. I wrote off the survey and walked.

[Johnathon123]

I do find it interesting, nearly everyone here has walked away and found another boat.

As a former vendor I have grabbed potential buyers with both arms and never let go (scary image but )

I guess my point is, passion for your boat is essential, but once you have decided to move on surely as a vendor you want it to happen!

[TaoJones]

Originally Posted by Johnathon123

I guess my point is, passion for your boat is essential, . . .

Not before you own it, and definitely not when you're in the negotiating stages, both initially and after the survey report is in your hands.

TaoJones

[Johnathon123]

Originally Posted by TaoJones

Not before you own it, and definitely not when you're in the negotiating stages, both initially and after the survey report is in your hands.

TaoJones

Hi Tao, Sorry I was trying to understand the vendors side of the equation, agree with you wholeheartedly as a purchaser.

[s/v Beth]

James- let me share with you a recent story. Had the boat type of my dreams picked out. Looked at a few, found one I really wanted. Offered 20% less than asking. He agreed but hesitantly. Survey showed other issues. Wanted price to include other issues- he said absolutely not, so I walked. Found another for 60% of original asking price of first boat. It had larger issues- Offered 30% below and owner laughed. I walked. Get called on second boat. They will accept 20% below and will make right on survey. Get survey and we close deal on 30% below. Now I had a year's work on that boat to get it where I wanted it, but I already knew that from the survey. During that time the first boat calls and says they want to deal- with all the conditions I said I wanted . So I could of got either boat. My way, my conditions.
Just be willing to be cool and pokerfaced. And do not let your emotions control you. It is not about being rude or mean to the seller. This is business. Be polite, but know your hand and theirs. Nobody is there to protect your interests, except you and your surveyor.
Good Luck!

[gr8trn]

Originally Posted by s/v Beth

James- let me share with you a recent story. Had the boat type of my dreams picked out. Looked at a few, found one I really wanted. Offered 20% less than asking. He agreed but hesitantly. Survey showed other issues. Wanted price to include other issues- he said absolutely not, so I walked. Found another for 60% of original asking price of first boat. It had larger issues- Offered 30% below and owner laughed. I walked. Get called on second boat. They will accept 20% below and will make right on survey. Get survey and we close deal on 30% below. Now I had a year's work on that boat to get it where I wanted it, but I already knew that from the survey. During that time the first boat calls and says they want to deal- with all the conditions I said I wanted . So I could of got either boat. My way, my conditions.
Just be willing to be cool and pokerfaced. And do not let your emotions control you. It is not about being rude or mean to the seller. This is business. Be polite, but know your hand and theirs. Nobody is there to protect your interests, except you and your surveyor.
Good Luck!

Newt,
Wonderful post, especially the last sentence. I am not sure your surveyor is 100% on your side. They must be looking out for #1 as well. I think it is up to you and your family and friends.

Two questions:
1. I run across folks that seem to take offers and counters personally and get their feelings hurt, other than being polite as you point out is there more on could do to minimize taking these transactions so personal?

2. Why are buyers not willing to do as you did? I find that when they are looking they see the listing price and even after doing some research are hesitant to make an offer if it is too far below the list price. I guess they are not hard ball enough to ask for what they want. I think they would find that even if they don't get a contract, they are likely to be contacted later if the seller sits on it longer just as in your case.

Just wondering,
Greg

[beau]

A wonderful thead, I do agree with Newt.
There will ALWAYS be a better boat and a better deal, that is what i have found. It is very hard NOT to become emotionally involved which is why you need a third party to neg. the deal

[Johnathon123]

Thanks everyone. You are right, better is just around the corner And best is just down the bay!

The Australian market is still reasonably strong, but I do believe from talking to brokers that it is a buyers market.

Anyone prepared to recommend a really good broker in OZ!

[beau]

recommend a really good broker in OZ!

No such thing, they are only interested in their commission and will do or say ANYTHING to get it.,

[David_Old_Jersey]

Originally Posted by gr8trn

Newt,
Wonderful post, especially the last sentence. I am not sure your surveyor is 100% on your side. They must be looking out for #1 as well. I think it is up to you and your family and friends.

and I wouldn't always put too much store in family and freinds

[Johnathon123]

Originally Posted by beau

No such thing, they are only interested in their commission and will do or say ANYTHING to get it.,

I would like to argue with you but sadly can't!

[CarlF]

I agree this is probably a walk away - it sounds like this may be your first serious boat relationship and it's almost never a good idea to marry the first girl. But there are a surprising number of people who spend years looking for the perfect boat deal and always find a way to not pull the trigger.

Those "searching" years could have spent sailing. I was looking at a brokerage boat last month. Beautiful custom built 50ft sloop. The owner had a stroke a month before it was launched. He's unsteady on his feet and now needs a cane . He never even got to sail on it. To paraphrase a business expression - When you lie on your death bed you are not going to think "I wish I'd saved $7500 on that sailboat I bought in 2010"

As to brokers (either "your broker" or the seller's) - if they make their money only when a boat is sold (e.g. a commission ) then they have a conflict of interest. They can be very helpful during a negotiation but they really want the deal to close - they don't want you to walk away from a boat - don't kid yourself.

Carl