Boat buying blues !!!

[tazrig]

Re: Boat buying blues !!!

If you have a written contract indicating you gave him a deposit check and he signed the contract acknowledging that it doesn't matter if he tore up the check or not. If he sells the boat out from under you then you can take him to small claims (at least that's how it works in the states) and seek "triple damages" because he committed a deliberate "bad act". You will be entitled to at least 3 times your deposit back if he sells the boat out from under you. Even if you loose the boat never buy one without a survey! Look on the bright side, If he sells it out from under you then you'll have the deposit times 3 to put towards another boat.

 

[MarkSee]

Re: Boat buying blues !!!

You have a "contract". As long as you maintain your end he should maintain his end of the deal. If not you can sue for breach of contract, check with a lawyer if things don't go right. No idea what you could get-- 1st lawyer meeting should be at no cost. After that any settlement may or may not cover costs.

Sue? Your welcome to your opinion but that's NUTS.

This is a boat, not a mad ex-spouse keeping you from seeing your kids.


Maybe the seller knows there might be stuff flush out in the survey which he won't pay for so actually him selling to someone else is saving OP the cost of a survey and the check gets ripped up.

Mark

 

[Monsterbishi]

Re: Boat buying blues !!!

Maybe the seller knows there might be stuff flush out in the survey which he won't pay for so actually him selling to someone else is saving OP the cost of a survey and the check gets ripped up.

You're almost right IMO, It's a old trick, used often in the car/boat/real estate industry - The seller knows they're really interested, the deposit says as much but the seller is aware of things that the survey may reveal which could end the sale.

So he invents a fictional buyer, to add a bit more pressure with the hope that the buyer decides to just forgo the survey and buy the boat, warts and all.

Summary: Stick to your guns, get the survey.

 

[tazrig]

Re: Boat buying blues !!!

Summary: Stick to your guns, get the survey.

^^^+1

 

[tpenfield]

Re: Boat buying blues !!!

Just recalling when I sold my 24 foot boat last year, I accepted a deposit and then the buyer was going to pay the rest of the money when picking up the boat. I had several other people lined up to see it the next day.

I waived them off. If the deal had fallen through, then I could re-contact those interested buyers.

I think it would be appropriate for the seller in this situation, not to show the boat because it is 'under agreement' at this point. You should discuss this with the seller. It would be reasonable for him not to show the boat until you (and only unless you) have rejected the boat, based on the results of the survey.

I stand on my previous shmuck comment . . .

 

[jigngrub]

Re: Boat buying blues !!!

Buy new, no survey needed and you can ride away with her that day.

 

[tpenfield]

Re: Boat buying blues !!!

Buy new, no survey needed and you can ride away with her that day.

I think we would all like to do that, but money seems to be the limiting factor . . . you can get a smaller boat as new, or a bigger boat as used.

. . . and if you are someone who buys new, you want people to buy used, so you can trade-in/trade-up. :thumb:

 

[Slip Away]

Re: Boat buying blues !!!

Still, there is nothing stopping him from accepting an unconditional offer and ripping up my cheque. I can't imagine having any legal recourse!

Wow... ye of little faith. As said, who gives a rat's arse if you put money down on it, the seller can still show the boat to anyone he likes. As long as he holds it for you. Ever been to a boat show and saw a "Sold" sticker on the boat, same thing here. A buyer bought the boat, but it remains on display at the show for anyone to look at.

 

[rogerwa]

Re: Boat buying blues !!!

If I were the seller I would honor the good faith of the agreement, in paper or not. A deposit to me is a hold until the details of the agreement can be executed. If I wanted to seek other buyers I would not accept the deposit. Just tell the buyer to show up with the surveyor if it is not sold.

One the other hand, there is nothing stopping this guy from being an unethical d-bag. Be patient and continue to execute on the details. if this one gets away, it gets away.

 

[jkust]

Re: Boat buying blues !!!

The process of buying large ticket items in cash seems to be foreign to sellers. No matter what I buy, I pay cash for it. Most times sellers don't know how to read this and think you are somehow scamming them. Way back when I bought my sig boat with cash slightly used, the seller was taken back since he had so many non-cash, tire kickers, and no down payment hold requesters on it. Small Chaparrals rarely come on the market locally and you better step up if you want it with some cash. Three tow vehicles ago, the dealer let me walk out the door without even paying for the vehicle again because I intended to paid cash and so bypassed the finance office. I asked if they'd like to be paid for the truck and they were embarrassed. My point I suppose is that the whole buying process is so inconsistent and it seems anything goes. Paying cash just adds to this. I actually like cash payers since I know they are serious. I once sold a car on Craigslist to a stripper who paid in ones and fives. She didn't have quite enough and I told her to write a check out for the difference and she told me you don't want my check...it'll bounce. To get the deal done and cash in hand I took the smaller amount. To me cash doesn't confuse...it talks.

 

[MarkSee]

Re: Boat buying blues !!!

A deposit to me is a hold until the details of the agreement can be executed. If I wanted to seek other buyers I would not accept the deposit.

Not sure what common practice is in other parts of the country, but here in SoCal whether it is a house or a boat, it's what we call "getting backup offers" so if the first potential buyer that left a deposit cancels or can't get qualified, there are others in line.
You get others to make backup offers by continuing to show the item for sale.

It's perfectly acceptable, and expected, to continue showing the item until the first offer solidifies.

It's very common here to see a real estate sign in the front yard with an "offer pending" sign attached but the owner is more than willing to continue to show it to get those backup offers. The potential buyer also knows the house will still be shown should they not accept.

Mark

 

[tpenfield]

Re: Boat buying blues !!!

Yes, I think how the seller handles any "back-up offers" that he may be soliciting during the time period until when the survey can be completed is the key question and uncertainty. The OP really should get a better understanding from the seller what his intentions are . . .

 

[heatz1express]

Re: Boat buying blues !!!

Yes, I think how the seller handles any "back-up offers" that he may be soliciting during the time period until when the survey can be completed is the key question and uncertainty. The OP really should get a better understanding from the seller what his intentions are . . .

Seller says that is all he is doing, but I am afraid the "other" prospective buyer might make him an unconditional offer and the seller could take the money and run! I will know later today!!! (didn't get much sleep last night - couldn't stop thinking about it!)

Thanks to all who have responded, I'll update thread when I've got some news.

 

[Toddavid]

Re: Boat buying blues !!!

You've got Boat Fever. It gets in the way of rational thinking.

There is nothing different here if it were a car instead of a boat.

If the seller can't honor he conditions of the deposit agreement and allow you to do a proper survey, you didn't really want that boat anyway.

As many have already said here: don't succumb to your emotions and the pressure the seller may be putting on you.

 

[greenbush future]

Re: Boat buying blues !!!

we wrote up a contract together indicating agreed purchase price pending satisfactory survey, to occur within one week. Deposit was intended to "hold" the boat until survey completed and renegotiation, if any. He signed, I signed and we shook on it.

Yea when you make an offer on a house (as an example) and the owner accepts, it's always pending inspection, or approval for financing. And that agreement then takes the house off the market because you have agreed to sell it per the offer. The deposit is the tool that defines just how serious you are about the offer. To continue offering the boat to others, seems wrong. If a seller did that to me, I would just cancel my offer, and go find a person who does agree to a price, and terms they will all be pending a survey. If he wanted to market boat, then he shouldn't have "accepted" your offer. He clearly didn't accept your offer, and to me that is breaching the contract, it also defines his character, which to me is not so good by doing this. If I accept an offer then I stop marketing the boat, that's what an offer is designed to do, it's a agreement to buy/sell. What good is the offer and deposit if you ignore it.

 

[Quit It]

Re: Boat buying blues !!!

Not sure what common practice is in other parts of the country, but here in SoCal whether it is a house or a boat, it's what we call "getting backup offers" so if the first potential buyer that left a deposit cancels or can't get qualified, there are others in line.
You get others to make backup offers by continuing to show the item for sale.

It's perfectly acceptable, and expected, to continue showing the item until the first offer solidifies.

It's very common here to see a real estate sign in the front yard with an "offer pending" sign attached but the owner is more than willing to continue to show it to get those backup offers. The potential buyer also knows the house will still be shown should they not accept.

Mark

Showing a house is very different than showing a car or boat. Or anything that can be easily damaged through use.

Letting someone look, walk around, check the features and kick the tires without a test drive - I understand both the seller and buyers perspectives on that. The seller is just trying to protect himself but the buyer feels some jealousy/ownership and doesn't want others looking. Letting some "guy" test drive when there's a contract is very different.

If a seller can't honor a contract they shouldn't enter into it.

I should add that the OP might be too emotionally attached to this boat. I'm glad a surveyor will be looking it over. BTDT

 

[MarkSee]

Re: Boat buying blues !!!

Showing a house is very different than showing a car or boat. Or anything that can be easily damaged through use.

Letting someone look, walk around, check the features and kick the tires without a test drive - I understand both the seller and buyers perspectives on that. The seller is just trying to protect himself but the buyer feels some jealousy/ownership and doesn't want others looking. Letting some "guy" test drive when there's a contract is very different.
If a seller can't honor a contract they shouldn't enter into it.
I should add that the OP might be too emotionally attached to this boat. I'm glad a surveyor will be looking it over. BTDT

As I indicated in a previous post, around here it is perfectly acceptable whether it be a boat or a house to continue to be shown and accept backup offers. After all, it is the current seller's boat until the survey has been completed and either accepted or rejected.
Unless they specifically stated in the contract that the current owner was forbidden from showing or using his own boat, he has done nothing wrong. Now selling it to someone else before the survey has been accepted or rejected is wrong.

If the survey has been completed and both parties are in a defined short period of time deciding on whether to accept or reject the results of the survey and complete the transaction or not, then the current owner using the boat until a decision is made would be wrong.
Escorted showing of the boat in this short period of time would not be wrong in my book while the new potential owner is deciding.

Mark

 

[Quit It]

Re: Boat buying blues !!!

If there's a possibility of damage or wear and tear then it shouldn't be demoed by back-up buyers once there's a contract.

 

[UncleWillie]

Re: Boat buying blues !!!

If there's a possibility of damage or wear and tear then it shouldn't be demoed by back-up buyers once there's a contract.

Is there a difference in Demoing it and just using it for your own purposes?
Should the seller be allowed to take the boat out and use it for whatever reason he wants while waiting for the buyer to decide?
Unless it is a Non-Refundable deposit to take the boat off the market and freeze it from all use;
The buyer is free to operate it at his peril.

That would be like asking someone that is selling a house that they can't cook in the house or have guests visit while a pending contract was in play.

 

[saumon]

Re: Boat buying blues !!!

I once sold a car on Craigslist to a stripper who paid in ones and fives. She didn't have quite enough and I told her to write a check out for the difference and she told me you don't want my check...it'll bounce. To get the deal done and cash in hand I took the smaller amount.

This must have happened some time ago. I heard that they don't do much nowadays for less than $10!