US Practice of Deposit with Boat Purchase

[Doodles]

Originally Posted by SaltyMonkey

I dont know how I have anything to do with your mistakes.

LOL

Be nice Salty, I'm working on a deal to sell Nick some islands (or virgins, not sure which yet). No 10% deposit, just a scan of his Visa card is all I need. Done deal and a drop shipment.

[pablothesailor]

All getting a bit silly now!
I for one have found this an interesting read over the past days and it has given me as a buyer an insight as to how some sellers may look at things as well as an important glance at how some buyers would act! I doubt very much that many sellers are getting the price they are listed at in the current market unless they have a real incredible top draw vessel! I think it is fair to say that you must do things they way YOU are happy with! There are certain things listed on this thread that i would not be prepared to do! Each to his own I guess! By the way, my new broker friend has sent me more ¨reduction deals¨ available, no deposit, no promises, just a guy who wants to try and do business, this for me works, for others...it may not! As young Bush used to say ¨these are hard times¨! Sure I am looking for the best possible deal for me, just like the people who are buying our property want the best possible deal for them! I wish you all good luck whether you are a buyer or a seller!

[s/v Jedi]

Originally Posted by pablothesailor

I wish you all good luck whether you are a buyer or a seller!

that's right Pablo, I'm happy you got to a decent broker who's not trying to con you. Remember, there's decent and respectful people everywhere; some places just a bit harder to find them

ciao!
Nick.

[SaltyMonkey]

All I can say is:

"Tie me kangaroo down, Sport. Tie me kangaroo down."

[s/v Jedi]

Originally Posted by SaltyMonkey

I dont know how I have anything to do with your mistakes.

You sure have no trouble putting out sharp remarks so it's a shame you're not that good with receiving them SM. But you asked for it a bit with your profile telling us that you don't own a boat while writing in your post that others (who actually own boats and live on them) are just talk, kickin' the tires, but not buying. Talk about digging a hole

But I'll let you off the hook now, no worries mate

ciao!
Nick.

[SaltyMonkey]

jedi - you seem to be confused in thinking that your words somehow affected me? Actually, IMHO they just showed ignorance. Owning a boat is a big responsibility, so choosing what kind, where and when to buy one should be a very personal and pragmatic decision. I don't go flaunting that I am buying one a zillion miles away and jump up and down proclaiming I am. I'm a patient monkey and my next decision will be an honest choice when I know exactly what I am looking for, where I want to sail it to, and if the time is right or not. Unlike other people on here, I don't superficially NEED a boat, because maybe because I got that emotion out of me from owning quite a few. I dunno, But, I also came to a decision quite a while ago that I don't want one here in the Bay Area. And I certainly don't look outside of the areas I am comfortable and have some relationship to. I continue to look everyday back mid-east where I am from, and may just get there. We will see. Have a few other things to take care of here first.

It's funny, seeing boat owners from time to time who think they somehow make a point that owning a boat puts them above people who may not have a boat at the moment. All it proves is someone blew a lot of money on an upside down house. I think just about anyone can do that selfish act. Doesn't take much brains or skill to go shopping.

[rgscpat]

Recently I bought a house as an investment and the earnest money part was really simple. I showed proof of funds during negotiations and then was asked to deposit $ 1,000 earnest money after my offer was accepted. That was less than 1% of the contract amount and only cost me about $15 to transfer as a domestic bank wire from my credit union to the title company's escrow account at Wells Fargo bank.

If I buy a boat in that price range in the coming year, I'd be quite happy to do something similar to show my seriousness -- even a larger earnest money deposit would be fine with me -- but I'd want to get a good feel that the selling broker was working to make the deal happen and not stuck on a bunch of rules that the brokerage had invented.

[s/v Jedi]

Originally Posted by SaltyMonkey

jedi - you seem to be confused

Agree, no question about that; it's why I live in easy, simple countries now, where there's no boat brokers nor deposits and I only need to worry about falling coconuts but still get Internet so I can rant on CF

To prove your point, here's my summary: you called for buying action instead of tire kicking, you got some, you don't wanna buy yourself yet, I'm in a permanent state of confusion, we're all clear and good to go ! Now, tell me, is that confused or not?!

peace man

ciao!
Nick.

[Doodles]

Originally Posted by s/v Jedi

Agree, no question about that; it's why I live in easy, simple countries now, where there's no boat brokers nor deposits and I only need to worry about falling coconuts but still get Internet so I can rant on CF

To prove your point, here's my summary: you called for buying action instead of tire kicking, you got some, you don't wanna buy yourself yet, I'm in a permanent state of confusion, we're all clear and good to go ! Now, tell me, is that confused or not?!

peace man

ciao!
Nick.

Must be time for that group hug and a chorus of kum ba ya!

[SaltyMonkey]

I just call for people to chill out about the price worry, what brokers and sellers should do, what is the proper % down should be, where the bargains are and so on. If you want a boat and you have x, don't worry about this or that and be patient. The boat will find you and may be in your own backyard already.

[SaltyMonkey]

Originally Posted by rgscpat

-- but I'd want to get a good feel that the selling broker was working to make the deal happen and not stuck on a bunch of rules that the brokerage had invented.

the only rule is there are no rules

Salty: I like the boat. Its number one on my list, but will only give 40% asking. Please call your client as if it is not acceptable I would like to know before I submit a PA and also get a feel of negotiation. I have three other boats on my short list after viewing 25 over the last 3 weeks locally.

Broker: sorry you will have to submit a PA and 10%

Salty: ok have a nice day. Please don't let the door slam you on the...

[ShaunJ]

Originally Posted by s/v Jedi

yeah right, we Europeans just wire Euro's to wait and see which exchange rate and which conversion costs we get charged from a receiving US bank... in addition to the "correspondence" fees etc. that we are talking about here.



?? excuse me? risk on the sellers part? A photocopy of a check is little risk? You must perceive the world so differently than I do



I have done all you write about here, both for regular business and for buying a boat, did you? Most US companies that do international business understand that they need to adhere to international standards or US export would have been zilch long ago. It's not hard at all to do International business, as long as you can understand that International is different from national. They surely do not ask for scanned copies of checks, the whole issue is just too ridiculous to be seriously considered.

The cold fact is that many if not most US boat brokers know nothing about International trade and most do not even have a passport and couldn't point out Europe on a world map. They will not sell boats to "foreigners" because they are rejected by those foreign buyers, as demonstrated in this thread.

Like I wrote before, there are enough brokers that do understand International trade, who do have their passports and many even visited the big European boat shows etc. These brokers know how stupid it is to ask for scanned copies of checks from European buyers as show of goodwill and they do not make these mistakes. They do sell boats to "foreigners" and lots of them. That's how it is and how it should be.

Also, the phrase "it's just business, nothing personal" is not acceptable in many countries. Statements like that will make you fail in International trade, where they do not need offensive sellers at all
Don't try to explain international trade to a Dutchmen... we invented it... for real.

ciao!
Nick.

Bla, Bla,Bla, Just noise in my opinion......I bought a boat less than 9 months ago and put a thousand bucks down and 10% when the deal was negotiated.

[Pelagic]

I think at the end of the day, both Jedi and I would agree that:

“You never get what you Deserve, you only get what you Negotiate”

So if our advice; on taking a clear stand on when to place a deposit is not heeded, then best of luck on being firm in the remainder of your negotiations.

[ShaunJ]

Originally Posted by Pelagic

I think at the end of the day, both Jedi and I would agree that:

“You never get what you Deserve, you only get what you Negotiate”

So if our advice; on taking a clear stand on when to place a deposit is not heeded, then best of luck on being firm in the remainder of your negotiations.

I would have to agree with that.....
good stuff Palagic, Short and sweet.....

[svBeBe]

Deposit is normal procedure. However, it is very important to have clarification in the agreement up front as to how and when and under what conditions that deposit would be refunded to you should the vessel not pass surveys to your satisfaction and you withdraw from the purchase.

I would never put up the deposit without a clear written understanding of possible conditions of refund and percent of refund should the deal go sour.

Judy
S/V BeBe