US Practice of Deposit with Boat Purchase

[pablothesailor]

Originally Posted by Wotname

At the risk of thread drift, that is GDP+income, now what is the net worth of Florida after one subtracts what it owes?

and what would the brokers 10% be worth?

[Doodles]

Originally Posted by Wotname

At the risk of thread drift, that is GDP+income, now what is the net worth of Florida after one subtracts what it owes?

No, that's just the title of the website that includes both GDP and Income. They are not combined for the calculation. Scroll down to the fifth chart that shows the top 20 economies of the world. The Netherlands is #19 and Florida #20.

Florida::Gross Domestic Product & Income

If you want to include debts you don't use GDP, you use Gross Assets minus Debts.

[s/v Jedi]

Originally Posted by David_Old_Jersey

I am not entirely sure you have "got it" - clearly the 10% "rule" is not universally applied in the USA, so plenty of scope to deal with a US Broker who will pass on indicative offers to a Seller (without being bribed )......despite what many here have claimed.

Exactly, and it is these brokers who are willing to show some respect and intelligence to the buyers that are successful on the international market. Let the rest sink and suffer, they are not worth a second of our time (just business, nothing personal, see, I'm a quick learner ). For some strange reason some think me or other international buyers need some favor from US brokers or sellers, while the only message I have for others is that there are decent brokers out there so just keep calling until you find one. The rest can try to sell to US buyers with photocopied checks who don't have the real $$$ anymore

ciao!
Nick.

[savoir]

Originally Posted by pablothesailor

and what would the brokers 10% be worth?

A one way plane ticket to anywhere . . . . . . . except California.

U.S. Foreclosure Trends and Foreclosure Market Statistics | RealtyTrac

[Kapena]

I only every put down $1000. It shows intention but doesn't tie up a bunch of funds waiting to get your money back.

You lose your deposit if the contract is agreed, then you get cold feet and walk away. If there are problems with the boat you can walk, or renegotiate a better price. If no problems, but you void the contract, you can lose the deposit (not always, depends on the seller). You don't need a 10% down. That is what the broker wants but he isn't buying the boat. I believe he has to present all offers.

[s/v Jedi]

Originally Posted by Wotname

At the risk of thread drift, that is GDP+income, now what is the net worth of Florida after one subtracts what it owes?

There's no need for these complex calculations... just open this page for the full picture: U.S. National Debt Clock : Real Time

It tells us that the avg. assets per citizen is $242k and the avg. debt per citizen is $46k. So, in order to survive, every citizen will have to transfer 20% of the value of all their assets to the fed reserves to pay off debt. I do not think they can afford to do that.

In a different view: 46k debt per citizen times the number of citizens in FL (18.8 mil) is 864 billion which is way more than what it's worth. Impossible to sell :-)

ciao!
Nick.

[Doodles]

Originally Posted by s/v Jedi

There's no need for these complex calculations... just open this page for the full picture: U.S. National Debt Clock : Real Time

It tells us that the avg. assets per citizen is $242k and the avg. debt per citizen is $46k. So, in order to survive, every citizen will have to transfer 20% of the value of all their assets to the fed reserves to pay off debt. I do not think they can afford to do that.

In a different view: 46k debt per citizen times the number of citizens in FL (18.8 mil) is 864 billion which is way more than what it's worth. Impossible to sell :-)

ciao!
Nick.

You see our plan to get out of this mess is to sell all the old sailboats to the Europeans. Good idea, right.

But they keep harping on the 10% deposit we want and time is a wasting cause Greece, Ireland, Portugal, Spain, Italy and who knows who else is lining up a the door for their bailout checks and France and Germany only got so much and at this rate there's not gonna be any left for the deposits. This is turning into a melluva hess.

[bangkaboat]

After dealing on about 50 boats in the past couple of years, from B.C. through Mexico, I found that the greatest problem I had with brokers was not the deposit, but the lack of information. On a few deals I played along to the point of accepting/rejecting a pre-survey price by the seller/broker before I either received the info I wanted, or gave up tryng to get it. So, my greatest criticism would be the lack of information. On the boat I bought, I hired someone for rig inspection & a surveyor & would have lost almost $700 if I'd not completed the deal, but they saved me much more by giving me the opinions I needed for a final negotiation. I "get" what the OP was saying about wanting info before getting more serious, but also think that the cart was before the horse, if the info the OP was requesting was the consideration of a price reduction. Unfortunately, the thread seems to have evolved into a "my country is better than your country" debate, inter-mixed with "You should do it the way we do".

[s/v Jedi]

Originally Posted by Doodles

You see our plan to get out of this mess is to sell all the old sailboats to the Europeans. Good idea, right.

Yes, there must have been some Dutch blood running through the veins of the person who came up with the idea Unfortunately, many of the brokers used to implement the plan frakked up by insulting the potential buyers so the whole deal backfired.... which bring me back to my offer for the US Virgins (the islands or otherwise)... I offer 1 mil Euro's but no 10% deposits

ciao!
Nick.

[Doodles]

Originally Posted by s/v Jedi

Yes, there must have been some Dutch blood running through the veins of the person who came up with the idea Unfortunately, many of the brokers used to implement the plan frakked up by insulting the potential buyers so the whole deal backfired.... which bring me back to my offer for the US Virgins (the islands or otherwise)... I offer 1 mil Euro's but no 10% deposits

ciao!
Nick.

I'll have to check with my client and get back to you.

[DotDun]

Originally Posted by s/v Jedi

There's no need for these complex calculations... just open this page for the full picture: U.S. National Debt Clock : Real Time

It tells us that the avg. assets per citizen is $242k and the avg. debt per citizen is $46k. So, in order to survive, every citizen will have to transfer 20% of the value of all their assets to the fed reserves to pay off debt. I do not think they can afford to do that.

In a different view: 46k debt per citizen times the number of citizens in FL (18.8 mil) is 864 billion which is way more than what it's worth. Impossible to sell :-)

ciao!
Nick.

Hmm....Nick, what happened to the $242k in assets per citizen for Floridians??......must be all the boats they own are worth less because the Europeans refuse to buy them.

[s/v Jedi]

Originally Posted by bangkaboat

Unfortunately, the thread seems to have evolved into a "my country is better than your country" debate, inter-mixed with "You should do it the way we do".

Don't worry too much, it's mostly in jest and harmless. As long as it's evolving, we're heading in the right direction

ciao!
Nick.

[s/v Jedi]

Originally Posted by Doodles

I'll have to check with my client and get back to you.

That's great news! Take your time, my offer is only reduced by 1% per day

Originally Posted by DotDun

Hmm....Nick, what happened to the $242k in assets per citizen for Floridians??......must be all the boats they own are worth less because the Europeans refuse to buy them.

Ouch.. I understand value of their homes also dissipated somewhat after the boats to put on their docks went out...

Let's turn this thread to a more positive side and start listing some brokers who are great people to work with no matter where you're from. I know one very well: Bollman Yachts, Ft. Lauderdale, FL and can highly recommend them, especially if you're looking for a Dashew design

ciao!
Nick.

[Mambo]

Originally Posted by savoir

No it isn't. Three brokers all told me "no phone call to the owner until we get the 10%". No deals. No negotiations. No nothing until I paid.

.

Sounds like they thought you were either a tire kicker or a chump. If you want to make an offer with money behind it -- you make it -- you don't ask permission. If you give a broker an offer with money behind it and he doesn't present it to his client, he's looking at serious liability.

[DeepBlueSea]

...amazing how something so simple gets so construed, convoluted and entertaining at the same time...