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12-10-2018, 18:19
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#91
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Registered User
Join Date: Mar 2011
Location: Australia
Boat: S&S 40
Posts: 924
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Re: Going around a broker
As a buyer one doesn't have to worry about the brokers fee anyway. If after some back and forth negotiations things come to halt that's just it, one either buys the boat or not, I see it this way there is always a nother one somwhere else.
I personally owned three yacht and I sold all of them without a broker, after all what exectly does he do? Stick an ad in the window or web sites. As for deposits or larger amount of money all one has to do engage a solicitor to draw up a bill of sale, even that one can do onseself.
You'll safe a few thousend dollars...as a seller.
Happy days indeed.
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12-10-2018, 18:58
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#92
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Registered User
Join Date: Oct 2013
Location: Eastern seaboard
Boat: S/V, Little Harbor, 62'
Posts: 14
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Re: Going around a broker
Get the broker to put up the difference
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13-10-2018, 02:25
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#93
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Registered User
Join Date: Jul 2014
Location: Phoenix
Boat: Sea Ray Sundancer 270 1984 twin 5.7 L, Catalina 25 fixed keel, Hobie Cat, Hallett 19
Posts: 17
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Re: Going around a broker
In some states, like AZ, the question is further complicated by the state sales tax collection laws. Private party transactions are not taxed while sales through an agent are taxed, And that adds an additional 10% to the cost of the boat. I buy direct and sell through a broker. If you are SERIOUS about selling - use a broker. They earn the money and have the buyers. I buy direct because I am an educated boat owner. I know what I'm looking for and how to determine condition w/o a broker or surveyor. Also being a good judge of character helps in all walks of life. I interview the seller in depth and make sure we part friends so that I can call on him if I need further explanation on something. This strategy has worked well for me.
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14-10-2018, 20:42
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#94
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Registered User
Join Date: Apr 2013
Posts: 11,002
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Re: Going around a broker
Quote:
Originally Posted by Tellie
In post #32 on this thread I believe Stainless was quite clear on his second thoughts after reading reasonable responses to his original post. I for one, in today's climate, am quite relieved and proud to see that there are still some people left that can still listen to both sides of a point, use their own personal reason, and still be able to change their minds for the betterment of themselves and others.
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While he claims that he won't do it in #32, in the first post, he admits to ACTUALLY doing it. (I see no differnce between boats and houses from a contractual point of view)
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14-10-2018, 20:45
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#95
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Registered User
Join Date: Apr 2013
Posts: 11,002
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Re: Going around a broker
Quote:
Originally Posted by Clarkegillespie
As an ex real estate broker I’m wondering if I’m not hearing something from the original post that I don’t think has been really addressed.
If everyone is agreeable, including the listing broker, the listing broker and seller can cancel the listing agreement. I have done that a few times for friends or just to help out someone who really needs it.
Yes it means I am not paid for the work I have done. But it is my choice. I admit I wouldn’t do that if I had spent a lot of money on marketing or a hundreds of hours on the deal. But brokers can bow out to facilitate a sale. Usually I ask for some compensation to cover my expenses and time. So I’m made whole but don’t make a profit.
Rare but not unheard of.
Clarke Gillespie
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Huge difference from asking the broker up front as opposed to going behind their back to try and cheat them from a legitimate commission.
If all 3 parties agree to an upfront change in the brokerage agreement, no harm no foul...that's not what was described though.
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16-10-2018, 00:50
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#96
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Registered User
Join Date: Dec 2010
Posts: 54
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Re: Going around a broker
Quote:
Originally Posted by StumpLifter
... state sales tax collection laws. Private party transactions are not taxed while sales through an agent are taxed, ... an additional 10% to the cost of the boat... I buy direct and sell through a broker. ... I ... make sure we part friends so that I can call on him if I need further explanation on something. ...
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Right on, Stumplifter. Rational process for those who feel confident in DIY & a ready alternative for those who don’t. Thank you.
__________________
"There's nothing, absolutely nothing, half so much worth doing as simply messing around in boats." -- River Rat, The Wind in the Willows by Kenneth Grahame
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16-10-2018, 04:45
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#97
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Senior Cruiser
Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 49,082
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Re: Going around a broker
Quote:
Originally Posted by Tellie
In post #32 on this thread I believe Stainless was quite clear on his second thoughts after reading reasonable responses to his original post. I for one, in today's climate, am quite relieved and proud to see that there are still some people left that can still listen to both sides of a point, use their own personal reason, and still be able to change their minds for the betterment of themselves and others.
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Well said JT, and thank you.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"
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20-10-2018, 08:59
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#98
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Registered User
Join Date: Dec 2017
Location: now in the Caribbean
Boat: Lagoon 400 catamaran
Posts: 123
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Re: Going around a broker
Quote:
Originally Posted by stainless guy
So finally looking for our big boat for extended cruising with my family, found one for close to the right price in the right part of the world with the majority of the features we want. We went to look at it and met the owner prior to the broker showing up talked with him for awhile and gleaned much more info than the broker could provide once we were looking the broker rushed us off the boat after about an hour he was quite pushy actually...
Due to the nature of what we are looking for our market is much smaller than typical. Some features are
-Metal hull, either steel or aluminum with no wood decking
-Pilothouse with dual helm stations
-55-65 feet
We made an offer the broker brought us a counter back, we countered again. Not to sure if we will get much closer, the amount we are apart is roughly equal to the brokers commission.
I am considering approaching the owner about dealing without a broker as we could both benefit from this. I have done this with real estate with good success in the past so don't see why it would not work here. Is there some sort of etiquette here??
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We were working with buying broker at first, but finally got the boat directly from the owner in the Caribbean.
There are pros and cons in both cases.
Working with a broker looks easier and takes less your personal time because he takes care about the deal.
If you want to buy the boat directly it’s very important to have good understanding with the owner.
We were lucky in this point but still didn’t have an experience so we had to update a purchase contact several times
Anyway it’s reasonable to do survey in both cases.
Also we worked with a company which helped us to make documents and we paid through escrow account.
In our case , it was a good deal! Because the boat was sold directly by previous owner and to use a buying broker meant a waste of money , which about 10%. But we had to do a lot by ourselves and the matter must be gone into.
Good luck!
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20-10-2018, 09:34
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#99
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cruiser
Join Date: Jan 2017
Boat: Retired from CF
Posts: 13,317
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Re: Going around a broker
Quote:
Originally Posted by Smart555
we worked with a company which helped us to make documents and we paid through escrow account.
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http://www.cruisersforum.com/forums/...er-208829.html
Can you (and others) please recommend escrow and / or title firms, lien search, tax / document etc "closing companies"
Also anyone able to share their purchase contract examples, would be greatly appreciated.
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20-10-2018, 09:39
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#100
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Registered User
Join Date: Dec 2017
Location: now in the Caribbean
Boat: Lagoon 400 catamaran
Posts: 123
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Re: Going around a broker
Quote:
Originally Posted by john61ct
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ASAP Marine Documentation and Registration, Inc.
We have good experience with this company.
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21-10-2018, 23:56
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#101
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Registered User
Join Date: Jun 2018
Posts: 131
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Re: Going around a broker
Sounds like stainless sees the error in that approach and frankly, until a sea trial and good survey are completed the real money is uncertain. Don't let emotions drive negotiations, research fair market value and recent comps and shoot an offer that's in the ballpark, some brokers will overprice to get a listing but the sharp ones want to move inventory. If the numbers don't work, remember that old man winter is fast approaching anywhere north of 30 degrees and boat sales slump. Good luck
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22-10-2018, 01:12
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#102
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Registered User
Join Date: Dec 2017
Posts: 20
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Re: Going around a broker
Why would you go around him? Either he works for you or he doesn’t. Maybe you’re expectations were too high?
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