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and that's usually the case... chirping before all the details come to light!!!:lolhit:

Quote:

Originally Posted by CrownLPX (Post 3798882)

When you put earnest money down on a house do you get it back? Yes.

No.... If you sign the contract and don't close/can't close you will lose your deposit as long as the property wasn't the issue (bad title, survey etc). In good times most people would refund the money.... The house probably went up in value in the meantime! But in slow times, you are more apt to lose your money!

I drove a car once at a small highline place and had a 2k deposit holding the car until it got checked out by a mechanic. I freaked when I got home and read the contract outlining non-refundable deposits.... Car was a mechanical mess so I didn't buy it and I got my money back.

I don't understand why someone would put down a deposit without ever even seeing the boat. So the seller should hold the boat until he sees it and if it's not what he wants the seller has to give the deposit back? Sounds kind of one way to me. I have sold many boats and I like a deposit before a test ride just to make sure the buyer is serious. We agree on price before the deposit and I always tell them that if the boat doesn't perform like I said it will during the test ride I will refund the deposit.

I sold boats for a long time in New Jersey Not Performence boats but It doesn't matter it's all the same. Unless it was stated inthe contract as a non refundable deposit we always gave it bac. I think there might be a few things left out.. Remember three sides to every story . Good luck

Get it in writing!

Quote:

Originally Posted by Baja126 (Post 3798754)

On August 16th, 2012, our company wire transferred a $5,000 deposit to Casey Freeman, the General Manager of Legend Marine Group out of Carrolton, TX. The deposit was to temporarily hold a 38’ Cigarette Topgun for a customer of ours, until he could get down from Illinois, to Texas, to look at the boat. At no point in any of our, or our customer’s conversations with Casey, did he state that this deposit would be non-refundable if our customer chose not to go through with the purchase. On August 17th, 2012, a day after we sent the deposit, our customer decided he no longer wanted that exact boat, but made it apparent to Casey that he was still in the market for a similar one. We contacted Casey, and he assured us that the money would be refunded, and also sent a text message to our customer saying that we would be getting the money wire transferred back to us. After a couple of weeks of no response from Casey, we again tried calling him and sent him an email. From that point, forward, we have not heard anything from Casey, or anyone at Legend Marine Group. They have refused to answer our calls and emails, or provide us with any sort of answer for not refunding our deposit. We have also sent an email to the owner of Legend Marine Group and Legend Motorcars, Greg Connell, from which we received no response. On October 1st, 2012, our corporate attorney sent a certified letter attempting to collect our deposit from them, in which we also received no response. It has now been over two weeks since sending this letter, and two months since we requested our deposit back. It is unfortunate that they have opted out of communicating with us on this, and have not given our deposit back. They carry very reputable brands such as, Cigarette, Formula, Donzi, Fountain, and Montery, which is why it baffles me that for such a small amount of amount of money, they would want this type of reputation. For these well-respected brands and their business, it is too bad they are operating in this sort of manner, but this may indicate that Legend Marine Group is financially distressed. I would highly recommend that no one deals with Legend Marine Group, and most certainly never leave any sort of a deposit with them. As a company with several avid boaters, there is no way we, or our customer will purchase from them again and we advise others to be leary, as well. This dealer is clearly trying to take advantage of innocent parties, and what was a $5,000 deposit may now cost them ten times that in legal fees.

Casey Freeman: [email protected]
General Manager/Sales Manager
469-546-1204

Greg Connell: [email protected]
Owner-Legend Marine Group/Legend Motorcars

Legend Marine Group
1835 Forms Drive #100
Carrollton, TX. 75006

Phone: 214-904-0052
Fax: 214-350-8820
www.legendmarinegroup.com

Legend Motorcars
1901 Forest Lane
Garland, TX.

The way I see it the problem is "There was no written contract" Read the post, all it says is "in our conversations" The only thing in writing was a text message.

I think we all know "Get it in writing"....or we should know and do this.

A deposit can and is used in many ways for many things, but bottom line it needs to be spelled out in writing or else this happens.

The contract could say 100% refundable, or 50% refundable or whatever % you agree to, or non-refundable, or refundable if your real nice to me or not refundable if your a Dick to me.

Point being you need a contract, or just something in writing to spell out what the deal is.

A smart seller that takes a deposit to hold something will tell other potential buyers "Sorry, but there is a deposit on this one right now, but I'll take your name and number and call you if the deal falls through"

You then call the first guy and "Say **** or get off the pot cuz I got other buyers"

This makes both parties much more interested in closing the deal, the first guy because now someone else wants his dream boat, and the second guy because "Wow, someone else wants it too so this must be a great deal"

Yea...I've been in sales for 40 years. :)

If you need a good Attorney these guys may be able to help!

Quote:

Originally Posted by Greatguy66 (Post 3798925)

What about pulling the boat out cleaning it etc etc!

Whaddya doing with a dirty boat? It SHOULD be clean if you want to sell it, that's part of the cost of doing business. I suggest you put in your contracts terms that if a client comes to look at a boat that they are responsible for the cost of cleaning it so it looks good when they arrive.

Good luck with that....

Are you Legend?

My question is why take a deposit just to "look" at it? if you looked at it and said ok, then gave them a deposit, that's a whole new story. If they said they had others looking at it and they needed a deposit, you just fell for the oldest game in sales. If someone wants you to pay to see it, then you need to run, not walk away from them.

Baja126,

I'm wondering why you don't identify yourself, your company or your attorney. There's plenty of contact info on Legend in your post yet none for you. Curious

Quote:

Originally Posted by offshoredrillin (Post 3799197)

Because the potential buyer is in Illinois and the boat is in Texas. If the buyer got in his car and arrived in Tx two days later to look at the boat, how fun would it be if the seller said "sorry, it sold yesterday". The intent of the deposit was to hold it for the customer so that he could check it out.