When Do You Walk Away ?

[MarkJ]

Originally Posted by Johnathon123

So I casually ask the price. And I can do it!

So he is sleeping on it because it is a big decision for him and will call me tomorrow.

Fingers crossed

Thats great!!!! Great for a number of reasons: Its means that yes there are other boats out there 'waiting' for you! a great lesson You like the boat before you knew it was for sale.

If the guy is older and doesnt want to part with the boat it might take a little while for him to make the inevitable decision. Perhapos you can let him take his time, a little so he doesnt feel rushed or pushed.
He might prefer to sell it to you as he would know you will keep it well etc.

Good luck with it!

Mark

[Stillraining]

Iv bought a couple big ticket items from very close friends...The approach I use is "Here is the money bring it over when your done with it".,,,The pile of cash in their hands is hard to part with ...I haven't had one change their mind yet doing it that way.

[Sailor954]

I'm giving away some of my secrets here but since we already have what will most likely be our last boat,, I guess we're safe. Here's a couple rules that have served us well over the years.

Rule #1 Knowledge is power. Learn to use resources like Yachtworld and find out what similar yachts are selling for. If using a broker (remember they are ALWAYS working for the seller) make it clear you expect him to provide you with the information you'll need to get the best deal. This might include info like how long has this boat been listed or on the market, or if it is a common design,, what are the things (weaknesses) to look for in this design?

Rule #2 There is no deal that is so good that you can't walk away from it. I know, this takes discipline but by using your resources,, you get a feel for what the boat is worth and how many others there are out there just like the one you're in love with. It's a lot easier to walk away when you know you're getting ripped off or there is a much better deal available on the same yacht just down the road a bit.

Point in case would be our current home, GAME PLAN. The seller was a absentee owner while the boat was in Ft. Lauderdale. The negotiations were long and I walked away from the deal three times,,, only to have the seller come back to us each time. The deal was finally sealed with the brokers involved surrendering half of their commission in order to make the numbers work.

The point to remember is that in most cases you don't NEED to buy that particular boat but the seller NEEDS to sell it.

[hoppy]

It's certainly time to walk away when the dumb arse broker can't even be bothered replying to your request for more information.

[Johnathon123]

Well that one blew up.

Looked good but according to the survey I shouldn't be in the same ocean.

Mate is devastated but what can you do

Still looking

[sailorboy1]

Originally Posted by hoppy

It's certainly time to walk away when the dumb arse broker can't even be bothered replying to your request for more information.

I'm thinking the same about a house I want to buy.

As far as when it's time to walk away; it's when you first ask yourself this querstion because it won't get better with age.

[s/v Beth]

Hang in there. And if the surveyor saved you a bundle- make sure and thank him. The more you walk away from the more experience you will have. Just be patient: it will happen.

[Lock]

This has been the best info I have read since I started my boat search two months ago. I am in the midst of closing on a boat in ONE WEEK! I even sent the entire amount of asking into the escrow account because i was so sure i wanted the boat. But after searching and searching and reading this post, i am learning that this boat isn't even worth half of what I offered. The boat started at "90k" in the add three months ago. Then I read "60k make any offer" three weeks ago. I offered 35k, but we came to 38K. This is sight unseen! We signed an agreement pending personal inspection. The inspection is in one week, but I'm not sure I should have even offered 20k, as nearly every boat in its shape and layout isn't close to 38k! I also learned that this boat has been sitting and rotting for over 2 years! This is my first big boat I ever bought. I had a survey done, but the surveyor is close to my broker and the broker was present during the survey. I wasn't there, as i was out of state. Of course the surveyor and the broker are in bed with each other. I'm getting a real nervous feeling about this buy. I am sinking a lot of our kitty into this thing....

This boat was priced emotionally by the seller. period.

[gonesail]

making offers sight unseen? that doesn't sound like a buyer's market to me. it is tough to buy a boat long distance. maybe you should get another survey? can you still get out of the contract agreement?

[Stillraining]

Never ever hire the surveyor the broker recommends!..unless all you care about is getting financing on a boat to buy...ANY boat!

Instead actually hire the one he tells you to stay away from...that reason you will usually find out is due to the fact he cant sell or get financing approval with that guys survey due to his honest , frank and accurate detail of a boats true condition...brokers hate that...they want a surveyor to "play ball"

[Lock]

Originally Posted by gonesail

making offers sight unseen? that doesn't sound like a buyer's market to me. it is tough to buy a boat long distance. maybe you should get another survey? can you still get out of the contract agreement?

Yeah, I can say I don't like the shade of white on the hulls and take my money down the road. I'm in Europe at the moment actually. I will be at the dock in 6 days.

The boat will do exactly what we want, but it is in need of a lot of work. I just need to be very careful about my final price.

[Lock]

Originally Posted by Stillraining

Never ever hire the surveyor the broker recommends!..unless all you care about is getting financing on a boat to buy...ANY boat!

Instead actually hire the one he tells you to stay away from...that reason you will usually find out is due to the fact he cant sell or get financing approval with that guys survey due to his honest , frank and accurate detail of a boats true condition...brokers hate that...they want a surveyor to "play ball"

I planned on hiring a surveyor from out of town and paying the expenses for travel. I think it'll be worth every penny.

[Bloodhound]

Originally Posted by Sailor954

The point to remember is that in most cases you don't NEED to buy that particular boat but the seller NEEDS to sell it.

Excellent point, and doesn't depend on buyer's vs seller's market.

[Butler]

maybe a hijack in progress but...
Pet peeve as a seller is when a buyer comes aboard and in order to get "a deal" starts trashing your boat and your work and spinning off into dumb exagerations and presumptions regarding the boats use history. The second and last time time this started I immediately asked the prospective buyer to leave, that I was not interested in selling to him.

[sww914]

I walked away from 3, each time it had become easy to say that the seller was a moron.
When I got to that point, it was easy to walk away.
I bought a boat that had been advertised as high as $100k, then 50, got it for 20.