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bclaypole 19-07-2020 10:15

Trying NOT to insult seller
 
Hi, I new to the boat buying game, however, I have found one that I want. Because the boat is on the other side of the world from me but located in the same country as my brother - he was able to do an inspection and take pics and video of everything for me. I am satisfied to make an offer conditional on a proper professional survey.
The boat is priced very reasonably and comes with almost all the extras needed. From what I've read on this forum a normal broker listed boat, has an almost expected 10-20% discount offer as the norm (yes, I may be off on this).

My question is: Is offering a 10% discount off of purchase price ($400000 boat, $360000 offer conditional on survey but with an as-is condition on minor items found during the survey (up to $5000 repairs covered under as-is clause), insulting? Things over $5000 would require re-negotiation of offer.

Last thing I want is the seller to tell me where to go but I also would like the $40000 to buy the items that are missing.

Your opinions please.

Brad

Bill O 19-07-2020 10:35

Re: Trying NOT to insult seller
 
Brad,
How long has the boat been on the market? If it's been sitting for a while you could go much lower than 10%. If this is something listed on YW/listed thru a broker, would even think 25-30% lower (IMO this is their jacked up price).
If you are dealing w/a broker it's a business deal nothing more except to get as much for their client as possible and also increase their commission.

If you have to deal w/the owner for the sale have you spoken to them to get a feel if this is an "emotional" sale or again simply a business transaction? Depending on the nationality of the seller, they expect to negotiate (maybe not US) and if its too low they will counter/not get insulted.

Also don't let them get wind that this is your dream boat and you absolutely need to buy it.

Cheechako 19-07-2020 10:40

Re: Trying NOT to insult seller
 
Yes, time on the market matters. But I dont think many sellers would be put off by a 10% less offer.

Calif.Ted 19-07-2020 10:41

Re: Trying NOT to insult seller
 
It's a negotiation, he can refuse or counter, hopefully without emotional involvement. I had a tentative agreement with a buyer and he asked if I would except a lower amount, wasn't insulted. I simply said "Nope, I have no reason to do that, it's already a good price for the market and it will sell quickly" he bought it. He sold it 3 years later for the same price he paid for it to get a bigger boat.

bclaypole 19-07-2020 10:50

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by Bill O (Post 3189575)
Brad,
How long has the boat been on the market? If it's been sitting for a while you could go much lower than 10%. If this is something listed on YW/listed thru a broker, would even think 25-30% lower (IMO this is their jacked up price).
If you are dealing w/a broker it's a business deal nothing more except to get as much for their client as possible and also increase their commission.

If you have to deal w/the owner for the sale have you spoken to them to get a feel if this is an "emotional" sale or again simply a business transaction? Depending on the nationality of the seller they expect to negotiate (maybe not US) and if its too low they will counter/not get insulted.

Also don't let them get wind that this is your dream boat and you absolutely need to buy it.

Thank you,
It was on the market for a couple of hours - and not through YW or other common listing agencies. Private seller. He's done with sailing and wants to move closer to his grand kids. He's not desperate to sell but missing out on those early moments would be difficult. You make a very good point about the country he lives in - very laid back and easy going, so I believe he would not be offended - even if the offer was too low for him.
I was very straight with him - its the model I wanted, but not the exact version I wanted (just can't find one).
Thanks again.
Brad

Lake-Effect 19-07-2020 10:51

Re: Trying NOT to insult seller
 
Negotiation is negotiation. You're free to offer as little or as much as you choose, they're free to accept, reject, or counter-offer.

As long as negotiation is polite, cordial, considerate, and there's no emotional fireworks from either side, a satisfactory outcome will be found... or it won't. Nobody owes either the buyer or seller a specific price.

Re extra equipment - the seller is offering what they choose to offer, not what you think it should be sold with, so base your offer just on what's for sale. You should have a separate budget in mind for what it will take to make any boat acceptable to you.

CarlF 19-07-2020 10:58

Re: Trying NOT to insult seller
 
While there’s always exceptions, most people with the money to own a fine yacht understand price negotiation.

And remember that most people buy boats that are much less expensive and in worse shape than the boat you are considering. With those boats, much bigger discounts are the norm.

When I sell a boat, I’m never “insulted” by a low offer but I also won’t waste my time going back and forth if the bids are too far apart to possibly get to a number I can live with.

My boats are fairly new and very well maintained but I still expect to come down a bit as part of the negotiation - because that is how the game is played - around 5%-10% (although I once sold a boat at asking).

So I am happy to get an offer at 80%-85% . If we end up “splitting the difference”, I’m at or above my 90% target. I certainly will counter.

For really well maintained boats, the survey doesn’t usually turn up much. I do get quite annoyed when a buyer tries to renegotiate the price on a boat that I’ve put a lot of sweat, love and money keeping in top shape. Only once has a surveyor found something significant - and I was embarrassed that I hadn’t noticed it and fixed it already. In that case I arranged and paid for the repair because I wanted to supervise the yard to make sure it was done right.

So I would just make the offer “subject to survey” rather than go into more detail that suggests you expect a problem from survey.

sailorboy1 19-07-2020 10:58

Re: Trying NOT to insult seller
 
On the other hand, sometimes the listing price is already a good price.

ol1970 19-07-2020 11:06

Re: Trying NOT to insult seller
 
No offer is offensive in my opinion, certainly not one that is 90% of his asking price. Geez if someone is that sensitive I couldn’t imagine them handing the stress of boat ownership!

Davy J 19-07-2020 11:24

Re: Trying NOT to insult seller
 
Quote:

Last thing I want is the seller to tell me where to go but I also would like the $40000 to buy the items that are missing.
Whoa...... You are thinking of buying a boat that has $40,000.00 worth of parts missing??????

What's missing? Sails? Motor? Interior cushions?

Or, is it just items you want or think you need? If the latter, the seller doesn't need to discount the boat for your wants....... You will need to add those items at your own expense.

bclaypole 19-07-2020 12:54

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by Davy J (Post 3189614)
Whoa...... You are thinking of buying a boat that has $40,000.00 worth of parts missing??????

What's missing? Sails? Motor? Interior cushions?

Or, is it just items you want or think you need? If the latter, the seller doesn't need to discount the boat for your wants....... You will need to add those items at your own expense.

Maybe $40,000 was an exaggeration - but what is missing, that I consider essential, are items like a life raft, a sea worthy dingy/motor and a good anchor (the one on the boat is undersized).

I fully get your point and appreciate your input.
Brad

skipmac 19-07-2020 13:22

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by sailorboy1 (Post 3189594)
On the other hand, sometimes the listing price is already a good price.

Exactly.

Saying the asking price for a boat is 10-20% over what the seller would take is a very, very rough rule of thumb and like any rule of thumb is only a very rough guideline.

If the boat is already priced favorably then the seller might be firm or at least not very negotiable on the price. Or he could be very well off and happy to discount the price to a buyer he likes. Or none of the above.

Regardless, I do agree that offering 10% below his ask should not annoy or insult him.

Davy J 19-07-2020 13:25

Re: Trying NOT to insult seller
 
Quote:

I fully get your point and appreciate your input.
Brad
Sorry to be a bit blunt...........

It seems we get one of these threads about trying to buy a 500K boat for 150K about once a week.

Anyway, I spent $10,000 on upgrades to my boat in the first seven days, the first seven days......

I'm afraid to add up the rest..........:peace:

Good luck on finding the right one.

mvweebles 19-07-2020 13:34

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by bclaypole (Post 3189568)
Hi, I new to the boat buying game, however, I have found one that I want. Because the boat is on the other side of the world from me but located in the same country as my brother - he was able to do an inspection and take pics and video of everything for me. I am satisfied to make an offer conditional on a proper professional survey.
The boat is priced very reasonably and comes with almost all the extras needed. From what I've read on this forum a normal broker listed boat, has an almost expected 10-20% discount offer as the norm (yes, I may be off on this).

My question is: Is offering a 10% discount off of purchase price ($400000 boat, $360000 offer conditional on survey but with an as-is condition on minor items found during the survey (up to $5000 repairs covered under as-is clause), insulting? Things over $5000 would require re-negotiation of offer.

Last thing I want is the seller to tell me where to go but I also would like the $40000 to buy the items that are missing.

Your opinions please.

Brad

10% discount won't offend anyone. But it will most likely be countered so you may end up closer to 5% so make sure you're okay with the ending spot, not just your first offer.

Best way to let a seller know you aren't going to be a jerk is to spend time with them or their broker. You can put it in the agreement but it may not sound the way you mean it so its likely better in person.

There are indeed a ton of threads on offer/purchase strategy. Many folks like bully offers where they believe they as buyer have upper hand and like to exert their positions. You have to decide what's a good fit for you. I've owned my boat for 22 years so I'm not a good judge, though I've consulted on a few sales for folks who are new to buying. I find that you get more with honey than vinegar. Most folks want to feel good about a transaction. Explaining am offer is usually a much more effective strategy than just presenting a stupid number. Watch Pawn Stars and although it's scripted, you'll get an idea of how to Strike a good deal

Good luck. Halfway around the world is a loooong way to sail home.

Peter

NorthernMac 19-07-2020 13:36

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by bclaypole (Post 3189568)
Hi, I new to the boat buying game, however, I have found one that I want. Because the boat is on the other side of the world from me but located in the same country as my brother - he was able to do an inspection and take pics and video of everything for me. I am satisfied to make an offer conditional on a proper professional survey.
The boat is priced very reasonably and comes with almost all the extras needed. From what I've read on this forum a normal broker listed boat, has an almost expected 10-20% discount offer as the norm (yes, I may be off on this).

My question is: Is offering a 10% discount off of purchase price ($400000 boat, $360000 offer conditional on survey but with an as-is condition on minor items found during the survey (up to $5000 repairs covered under as-is clause), insulting? Things over $5000 would require re-negotiation of offer.

Last thing I want is the seller to tell me where to go but I also would like the $40000 to buy the items that are missing.

Your opinions please.

Brad


As someone who was pretty good at sales as a kid, ask yourself if this is business or are you trying to date the man?

Just depends on how you phrase it, always smile and use a cheerful or understanding tone, I’d probably but him south of the number you want, say something about your budget or wife says or better yet financial changes post corona virus, or whatever, if it helps soften the blow, hit him low, peel him off the roof and settle on a number closer to your target, I would make a hard limit however, it helps to know where your goal post is as well as your brick wall.

Remember way more people probably want your money than his sailboat.

Arthur Garfield 19-07-2020 13:43

Re: Trying NOT to insult seller
 
Things I consider and write down.
What's "market value"
I firstly ask myself-"what is my game plan for negotiation"
How does purchase further my goals & how important are details to me?
Do I have a backup plan that suites me goal?
Never make an "emotional" buy". Thats' always ended bad for me
I always make a "lowball" offer. This has often been successful or lead to a mutually agreeable deal.
Additionally, if a seller gets emotional to point of being insulted-I wouldn't deal.Walk
One never knows what situ seller is in,and if they're willing-be prepared to buy on the spot!
Always be prepared to "walk away"

smj 19-07-2020 13:50

Re: Trying NOT to insult seller
 
As someone above said, if your going to make a low offer have some facts to back it up.
I usually price to sell and if someone lowballs me with no reason then I walk. Life’s to short to deal with uneducated buyers.

Lake-Effect 19-07-2020 14:10

Re: Trying NOT to insult seller
 
As a seller, it would drive me nuts if someone presses me for a lower selling price, and I either accept it or propose a reasonable compromise price, and they bail.

So, personally speaking, I would never agree straight-up to a low offer; it would have to come with a commitment to purchase. So my response to a low-ball would be a set of conditions, eg I will accept an offer of $X if it comes with a 10% deposit delivered in the next 24 hours.

NorthernMac 19-07-2020 14:16

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by Lake-Effect (Post 3189713)
As a seller, it would drive me nuts if someone presses me for a lower selling price, and I either accept it or propose a reasonable compromise price, and they bail.

So, personally speaking, I would never agree straight-up to a low offer; it would have to come with a commitment to purchase. So my response to a low-ball would be a set of conditions, eg I will accept an offer of $X if it comes with a 10% deposit delivered in the next 24 hours.

That seems fair and standard

If someone agreed to terms I liked as a buyer, I’d want to cement the deal ASAP too

mvweebles 19-07-2020 14:18

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by Lake-Effect (Post 3189713)
As a seller, it would drive me nuts if someone presses me for a lower selling price, and I either accept it or propose a reasonable compromise price, and they bail.

So, personally speaking, I would never agree straight-up to a low offer; it would have to come with a commitment to purchase. So my response to a low-ball would be a set of conditions, eg I will accept an offer of $X if it comes with a 10% deposit delivered in the next 24 hours.

I don't consider a 10% discount on a brokerage boat to be a low ball offer. Maybe some do, but for boats, seems very respectable. But I don't buy/sell many boats.

Zzmeyer 19-07-2020 14:57

Re: Trying NOT to insult seller
 
Just sold two boats (through a broker). Every offer I got included a 10% deposit. The broker is required to present all offers no matter how silly. Because of Covid I got a lot of silly offers, but I don't blame them trying. In every case I countered (much closer to my asking price). In those cases, they disappeared quickly and best I could tell never bought my model. In both cases I sold them for about 6% below original asking price. The broker was very helpful in determining asking price. He had a list of all the boats in the US and their asking price. He also had a list of identical or similar boats that had sold, their asking price and selling price. As I recall, most actually sold between 90 ad 95% of asking price. Bottom line for me was that it was fairly easy to come up with a reasonable asking price and a reasonable price to accept. There are those sellers who are just testing the market and therefore over price, just like there are those folks who will pass up on the boat of their dreams in order to "win" the cost game.

skipmac 19-07-2020 15:02

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by Davy J (Post 3189692)
Sorry to be a bit blunt...........

It seems we get one of these threads about trying to buy a 500K boat for 150K about once a week.


Well the OP didn't put it that way. He described the boat as fairly priced and wanted to offer 10% less than the ask. 150 for a 500k boat is more like 70% less.



Quote:

Originally Posted by Davy J (Post 3189692)
Anyway, I spent $10,000 on upgrades to my boat in the first seven days, the first seven days......

I'm afraid to add up the rest..........:peace:

Good luck on finding the right one.

And it does seem reasonable for the OP to plan on doing the same. Finding a boat at a really good price with everything on it and ready to go is about like winning the lottery. It does happen but it is pretty rare.

flyingfin 19-07-2020 15:09

Re: Trying NOT to insult seller
 
In todays economy, there are few Buyers and lots of Sellers. Worse yet, there are few banks willing to make loans so most Buyers must have their own funds, and hull loss insurance tough to get in some parts of the world without a 30% deductible. So the boat is only worth what a willing Buyer is offering,,,,,,,,,no 10% or 20% rule of thumb. And no NADA book or used boat lots to market as in the used auto market.

bclaypole 19-07-2020 15:24

Re: Trying NOT to insult seller
 
thank you to all the responded. This board is a great resource.
I settled on 12.5% below asking as my 1st offer. If I was to land at 6% off, I would be happy and hopefully the seller too. He has been more than accommodating with me being on the other side of the planet. The point about providing an immediate deposit was well taken and I put those terms in my offer. Fingers crossed!
Brad

tomfl 19-07-2020 15:24

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by bclaypole (Post 3189676)
Maybe $40,000 was an exaggeration - but what is missing, that I consider essential, are items like a life raft, a sea worthy dingy/motor and a good anchor (the one on the boat is undersized).

I fully get your point and appreciate your input.
Brad

While I have been on some commercial boats with a life raft I am not sure I have ever been on a private boat with a life raft and would not expect one to come with a boat I bought. Also have to point out all life rafts have a sell by date and need regular inspections and upgrades.

Lots of folks consider a dinghy as a consumable and while many boats do come with them often they are not in the best of shape.

One of my pet peeves is when someone talks about an anchor. My take is you should be talking about a ground tackle system. This includes an anchor, some way to connect an anchor to the chain, some way to connect the chain to a rode, a Sampson post to secure the rode, and a good knife (what ever I use a PVC cutter) to cut the rode in case of a disaster. I would also like a good gypsy on a good size windless, don't leave home without one. I also insist on a bridle (and solid cleats for the bridle) and snubber and a line and snatch hook to quickly secure the chain to the Sampson post. When upping the size of an anchor it is also important to make the track the anchor is in fits. Also have to have markers on the chain and line every ten feet (or a distance you like).

Thing is it is very easy to get any boat to move, wind and current will often do it alone. Problem is that this movement may not be in the direction you want so it is very important to be able to get the boat to stop moving and this is why I put such importance on ground tackle. It also has been my experience that good sailors understand the importance of ground tackle. If a boat owner has skimped on ground tackle, one of the most important things on a boat, my first question is where else have they skimped on things.

Not saying I would never buy a boat with inadequate ground tackle; just that it raises a great big red flag to me.

Tillsbury 19-07-2020 15:47

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by tomfl (Post 3189781)
Not saying I would never buy a boat with inadequate ground tackle; just that it raises a great big red flag to me.

Yes indeed. In fact the opposite is also true -- one of the things that appealed to me about this boat was the enormous Rocna on the front (and associated gear to handle it). To be honest, it's sufficiently big that it doesn't quite fit aesthetically where it's supposed to, but that doesn't affect how it works.

To me, the anchor indicated something about the previous owner's attitude, and that reflects well on the rest of the boat.

barnakiel 19-07-2020 16:16

Re: Trying NOT to insult seller
 
Offer what you see the boat worth.


In my book offering 10% below asking is nowhere close to insulting.


Some sellers (e.g. Sweden, Norway, etc.) could simply say no, and keep on waiting.


Other sellers (Arabs) will be insulted if you DO NOT haggle.


My opinion: offering 10% below asking is fine in most Western cultures.



b.

sail sfbay 20-07-2020 09:24

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by bclaypole (Post 3189568)
.............Is offering a 10% discount off of purchase price ($400000 boat, $360000 offer conditional on survey but with an as-is condition on minor items found during the survey (up to $5000 repairs covered under as-is clause), insulting? Things over $5000 would require re-negotiation of offer.............

Not insulting in my experience AND you can request a "repair allowance" for repairs over a specified amount, in the amount you proposed, in the purchase contact that includes a sea trail and survey. Depending on the boat age you might also want to do standing rigging and engine surveys.

Group9 20-07-2020 09:41

Re: Trying NOT to insult seller
 
I've sold a lot of boats. Low balls don't bother me. I just say no thanks.

But, I understand why people do it. I have a really good friend, (who passed away a couple of years ago) who bought and sold boats for a living. And, I've seen him have a lot of "insulting" offers accepted.

I was with him one day, when he offered a doctor 50 per cent of what he was asking for his boat. The doctor huffed and puffed and said he was insulted, and my friend shrugged and said, "I'll pay you today. Cashier's check."

And, the doctor griped some more, and then said "Okay, I'll take it." I had to fight not to laugh. I couldn't do it. But, it didn't bother him a bit. :biggrin:

joelhemington 20-07-2020 09:59

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by bclaypole (Post 3189568)
Hi, I new to the boat buying game, however, I have found one that I want. Because the boat is on the other side of the world from me but located in the same country as my brother - he was able to do an inspection and take pics and video of everything for me. I am satisfied to make an offer conditional on a proper professional survey.
The boat is priced very reasonably and comes with almost all the extras needed. From what I've read on this forum a normal broker listed boat, has an almost expected 10-20% discount offer as the norm (yes, I may be off on this).

My question is: Is offering a 10% discount off of purchase price ($400000 boat, $360000 offer conditional on survey but with an as-is condition on minor items found during the survey (up to $5000 repairs covered under as-is clause), insulting? Things over $5000 would require re-negotiation of offer.

Last thing I want is the seller to tell me where to go but I also would like the $40000 to buy the items that are missing.

Your opinions please.

Brad

Unless this is some high end late model boat that already been steeply discounted then a 20% offer reduction seems to be the sweet spot. At 10%, it's likely the owner will be too giddy or drunk to even sign the offer acceptance. It really helps to know the market on the boat you're looking at when making an offer. Don't get your heart set on this boat until after it's been surveyed as you may be sadly disappointed. You mentioned $5,000 as your threshold for negotiation. That won't even replace the standing rigging on most boats in this price range. You also didn't mention where it's at or what it is and what you plan to do with it if you can't even get there at the moment.

zjames 20-07-2020 10:15

Re: Trying NOT to insult seller
 
Brad, you can always start low and go up. Going the other way doesn't work. Start lower than what you think he would accept. Everything is a negotiation. The whole time you are asking questions and discussing, in the seller's mind he was negotiating towards getting the top dollar he wants. notice I said wants. Boats are expensive to maintain and upgrade. Wouldn't you better off, instead of giving money away to the seller, you saved the money to really make the boat your? Food for thought..

dennismenace111 20-07-2020 10:23

Re: Trying NOT to insult seller
 
Id have no problem lowballing a seller! Once you give him a number, it will never go down! It can only go up! So if you offer 50% of tge asking price because of condition and equipment, the worst he will say is no thanks! You can always increase your offer! If he's a serious seller, he will negotiate!

JimsCAL 20-07-2020 10:35

Re: Trying NOT to insult seller
 
There is no such thing as a standard percent off asking price as a reasonable offer. Some boats are priced fairly and should go for close to asking. Others are overpriced and 10 or 20 percent off is still not enough. You have to some research and do your best to figure out what a fair price is and go from there.

roland stockham 20-07-2020 13:23

Re: Trying NOT to insult seller
 
The offer I put in on my current boat was 50% of the asking price. The owner wanted to sell and had no other offers. Offer what she is work to you and you can afford, they can only say no.

Group9 20-07-2020 13:26

Re: Trying NOT to insult seller
 
All you have to do, is get on any boat selling site, to see that there are a lot more people trying to sell boats, than trying to buy them.

Just keep that in mind when making offers.

markbarendt 20-07-2020 14:38

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by flyingfin (Post 3189768)
In todays economy, there are few Buyers and lots of Sellers. Worse yet, there are few banks willing to make loans so most Buyers must have their own funds, and hull loss insurance tough to get in some parts of the world without a 30% deductible. So the boat is only worth what a willing Buyer is offering,,,,,,,,,no 10% or 20% rule of thumb. And no NADA book or used boat lots to market as in the used auto market.

Actually there are NADA value guides for at least the more common boats and options.

https://www.nadaguides.com/Boats

Interestingly the "average" NADA price correlates neatly to various numbers on the boats the wife and I have been looking at.

75% of average NADA value seems to be about what BoatUS will insure a boat for, which also seems to be a financing threshold to get 25% down from the buyer.

The listing prices on say Yachtworld seem to be surprisingly close to 10, 20, or some other cardinal percentage over the NADA average.

Seems to me, as a buyer, that the NADA average would be a fair baseline target for a final deal if it's adjusted for condition of the boat and any extras included, like a dinghy and ...

tomfl 20-07-2020 15:16

Re: Trying NOT to insult seller
 
Quote:

Originally Posted by markbarendt (Post 3190482)
Actually there are NADA value guides for at least the more common boats and options.

https://www.nadaguides.com/Boats

Interestingly the "average" NADA price correlates neatly to various numbers on the boats the wife and I have been looking at.

75% of average NADA value seems to be about what BoatUS will insure a boat for, which also seems to be a financing threshold to get 25% down from the buyer.

The listing prices on say Yachtworld seem to be surprisingly close to 10, 20, or some other cardinal percentage over the NADA average.

Seems to me, as a buyer, that the NADA average would be a fair baseline target for a final deal if it's adjusted for condition of the boat and any extras included, like a dinghy and ...

I have limited experience with NADA prices but for Corsair trimarans they seem to be way off, often less than 50% of what I see them advertised for on legit sites with ads for boats. Same for some other popular production multihulls. Not to mention NADA prices simply don't exist for a lot of sailboats.

Insurance companies will normally insure a boat for any reasonable amount. They are happy to insure a boat for less than it is worth. In fact my insurance company suggested I insure my boat for less than the survey value since few boats are a total loss so insuring for full value did not make sense.

I was looking at C31 tris and the NADA value was around $US50,000 but they were selling for more like $US100,000 for the year, condition, and extras of boats I was looking at. I spoke to a lender specializing in boats and an insurer and both agreed the 100k was more realistic than the 50K.

What the insurer told me was that for power boats made in great numbers the NADA values were useful but not so much for sailboats made in much smaller numbers.

Mike Banks 20-07-2020 15:29

Re: Trying NOT to insult seller
 
The deposit is usually ten percent because that is the brokerage fee--well in Australia it is, but some brokers may charge more, others less. In any case--that fee is covered by the asked deposit which is held in escrow in the brokers trust account until settlement. It is then retained from the proceeds of the sale, by the broker as commission...

Mike Banks 20-07-2020 15:39

Re: Trying NOT to insult seller
 
I would send the seller a general price I wished to pay and say "I know this is below the asking price you have advertised, but just keep me in mind, because I am looking for a vessel and I have this amount to pay and am unable to obtain any further finance--so just please hang on to my contact details and keep me in mind as a back-stop".

In a month or two reality intrudes--and a cash offer is always tempting, and you WERE polite, and your offer was not accompanied by rudeness or sarcasm, so you may even get it at a good price just to make sure none of the smart-arses and broker's agents get it------.

If you get a call, you can then inspect the vessel knowing a deal is possible.

Zzmeyer 20-07-2020 16:06

Re: Trying NOT to insult seller
 
And then there is the market at the time you are looking. In SoCal right now the market it hot. This week I put in two full price offers on boats that were rejected because they accepted a higher price.


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