New to working with broker and questions

[Joe]

deposits

In So Cal, the real estate deposit check is held uncashed in a trust account by the broker during negotiations. Only when escrow opens is the check delivered to escrow and held in trust until the transaction closes. The deposit check is NEVER given directly to the seller, it is included in the final settlement. In a boat transaction between private parties, I would only consider an earnest money deposit if there were a neutral third party (escrow) facilitating the transaction and a formal, written contract.

 

[Capt Ron]

Car salesmen wearing boatshoes; broker

Kenny, Firstly, take much of this "free" info here with a grain of salt, many have way too much time on their hands and answer every response as if they have all the answers, they very definitely do not.There are a few decent brokers around, but they lie often, most of them, and have a specific interest in selling you a boat, MONEY, that is their single motivator.They may have their own company rule on firing up the engine, but most will before the sea-trial or survey where it is essential. I am suspicious, especially if you are a serious buyer and this is easily recognizable.Nadaguids.com is NOT for larger vessels, but accurate for smaller tralerable boats. Bucsboats.com and yachtworld.com are much better, soldboats.com is by far best but you need to be a subscriber.When you find your boat, a SAMS surveyor will almost certainly save you money, and may turn over a few factors that would steer you completely away.An Island Packet is a good boat, so is a Catalina, Islander, Newport, and Westsail, but each has it's idiosyncracies and 'issues' there are many bad yachts now sunk or damaged by Katrina, and glossed over for the buyer to beware, these are showing up everywhere.