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[Kings Gambit]

The Hunter 45 Center Cockpit circa 2007 is listing for around $190,000, give or take $9,000. A down of $10,000 to begin serious steps that the buyer wishes toward a purchase agreement amounts to a little more than 5%. I scratch me head . Is this request amount from the broker/seller really out of bounds? Perhaps it is on the line.

 

[dlochner]

The Hunter 45 Center Cockpit circa 2007 is listing for around $190,000, give or take $9,000. A down of $10,000 to begin serious steps that the buyer wishes toward a purchase agreement amounts to a little more than 5%. I scratch me head . Is this request amount from the broker/seller really out of bounds? Perhaps it is on line.

My thoughts too. And if there is a mortgage involved the bank is going to want 20% down or more.

 

[JamesG161]

It is ok in Florida, to have a Yacht Broker "make the market" in selling a boat that he owns. He must give you a written disclosure of this.
Then ask him to give you a proposal of the Sale, for possible Banking needs.

"PURCHASE AND SALE AGREEMENT FOR BROKERAGE VESSEL"

One other possibility for you to help protect yourself. Call a reputable broker the area and ask him to be your
Buyer's Broker. No additional commissions are needed.

I would not let anyone buy or test my boat without a significant good faith downpayment in escrow. 10% for boats in Florida is about right.

BTW they would love 50%, and that escrow is negotiable.
Jim...

 

[pumpkinpie]

I want to thank each and everyone of you for posting to my thread. It was most appreciated. I'm passing on this boat for multiple reasons.

I would love to purchase right from a owner rather than a broker. I'm paying extra for a broker. Thus far all the sites I come in contact with are all brokers listings. I'm looking for anything that is 38ft - 45ft. Nothing brand new as I can't afford that. (I'll start a new thread).

 

[pumpkinpie]

This broker doesn't do Escrow and had pushed me away from making the purchase.

 

[dlochner]

I would love to purchase right from a owner rather than a broker. I'm paying extra for a broker. Thus far all the sites I come in contact with are all brokers listings. I'm looking for anything that is 38ft - 45ft. Nothing brand new as I can't afford that. (All start a new thread).

I'm going to disagree on this point. I think for a boat in the 150K to 200K price range you do want to buy a brokered boat. You do not pay the broker, the seller pays the broker commission.

 

[dlochner]

This broker doesn't do Escrow and had pushed me away from making the purchase.

On this point you are making a good decision. If the broker doesn't use an escrow account, then you don't want to do business with them.

 

[JimInPB]

Yea, I found a guy that had a used dual sport bike that I really wanted to buy, a few years ago. When I went to look at it, the guy would not let me test ride it & would not even let me start the motor to hear it run before "consummating the deal". When I asked what he meant by "consummating", he was evasive, but eventually said that I had to pay for it first, before I could hear it run. I'm not buying anything from that guy ever. If the seller rubs you the wrong way for any reason, walk away & don't look back.

 

[pumpkinpie]

In this case the broker owns the boat he is selling. He bought it from a seller. He doesn't use escrow for down payment.

 

[dlochner]

No escrow account, then no deposit and no deal. Good call.