I was dealing with a broker at one time and he asked for 10% down before bringing the offer to the table. Basically what I found out is the 10% was his brokerage fee. This way if you meet the owner on the test ride and try to by-pass the broker (at a later date) the broker already has his money.

Thats completely insane..... ALL BROKERS will require a signed contract and deposit to present the offer, usually just fax a copy of the check or they make a copy of it to send it over with the contract/offer to get the ball rolling..... To take your money and put it in Escrow?? They are creating alot of work on there end...

10% is the sellers side of bizz,Not the buyers......Never heard of such a thing.After price is set then you get to deposits.....Thats how all of my deals went down..

They want you to pay 10% just to pass along an offer?? That's fvck'n insanity. There not really doing the seller much justice with that attitude. Like was said, give them your terms and a timeframe or you'll deal directly with the owner.

Well......one of the reasons why you've never seen this is because it may be illegal. As I understand its 10% down just to present the offer. I know for a fact that realtors must present all offers to the owners, it does not matter how low it is. I would think that similar agent laws exist for selling a boat.

I'm no lawyer, but if you really like the boat it may be worth a phone call to one.

Sounds like Tres Martin.

Doesn't Barrett Jackson charge 10% on each side ( i.e. 10% from seller and 10% from buyer). Of course they do a little more work for that 10% and are on T.V.Mike

Tell the broker that "People in Hell wan't ice water too"

How about make an offer with a 10% deposit upon acceptance of the Seller? He is protecting his commission is all. Believe me in this market any offer will get presented if you write one that is not foolsih. I have bought a number of boats with brokers and they are weeding out the tire kickers. Yes I have used earnest money upon acceptance or presented with a check to be deposited in escrow upon acceptance.

I think everyone is confused on this.....If you are trying to buy, it is normal that the broker take 10% in escrow of the offer, as good faith money. That is usally based upon several things: One, timeline on offer presented. Two, response timeline. Three, upon rejection timeline for refund from the broker, with NO FEE. All real estate deals are done this way as well, most of you should be aware of this. And with most offshores costing upwards of 100K it makes sence. My feeling as a seller is that if a prospective buyer does not have 10% cash to put into escro for a short period of time, then they really can't afford the boat....

Just my two cents