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Deal fell apart on my Cigarette. (keep deposit?)

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Old 04-29-2002, 01:28 PM
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KEEP THE DEPOSIT!! SPONSOR MONEY(ONE TANK OF FUEL). GUT THE BOAT LETS GO RACING!!!
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Old 04-29-2002, 02:42 PM
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so much for sellers remorse...
Keep a portion of the deposit if you can, your too nice a person to keep it all. Broker probably wouldnt hand it over anyhow. Besides, reasonable insurance to you is not the same to him. It needed to be stated in exact figures as to what that is.
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Old 04-29-2002, 02:59 PM
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In my humble opinion the prospective purchaser has no right to use you as a test mule for insurance rates. If the deposit was a nominal amount and you, along with the broker acted completely honestly in the transaction, then the deposit is yours.

On the other hand, I would not want to take advantage of a person that also acted honsetly and was simply "new to the situation" you might cut him some slack.

Whatever, you must follow your conscience! Do the right thing and sleep at night!!!
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Old 04-29-2002, 03:37 PM
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If a broker is involved, we have to abide by the laws of the state. For California we hold 10% of the total Pre Tax offered price before we even submit an offer. If the offer is excepted the 10% goes into a Escrow account, at that point a Sea Triland survey can be done. The full 10% is completely refundable to the buyer at anypoint in the purchaseof the boat. It doesnt matter if the boat hasbeen run for 20 hours to sell it, the seller is SOL. You all should see the amount of paperwork that is involved just to submit an offer, Counter offer, acceptance of offer. By the time a deal goesthrough the broker has Carpal unnel Syndrome. It does make iteasier to protect the Byes money. And people are mnore inclined to put mone down on a boat when they know they can get it back if the boat is a POS. Im not saying its right, Imjust giving a little background for the California Buyers and sellers.
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Old 04-29-2002, 03:39 PM
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DJD, What Year and Size Cig and how much?
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Old 04-29-2002, 03:41 PM
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LOL I like Outer37 and DavePs suggestions the best!
The broker took a 10% deposit.
Contract reads "non refundable".
The buyer wrote on the contract "upon reasonable insurance".
PMA quoted $1700 and that IS reasonable but the buyer said to my broker "he can't get ins".

Granted, I am not looking to screw the guy & take all the money but I think I should get something. I dropped my advertising and my broker turned away a hot prospect a week ago.
I also feel bad that I promised BiggusDickus the trailer. Sorry Kurt.

Ah well.

Last edited by DJD; 04-29-2002 at 03:50 PM.
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Old 04-29-2002, 03:46 PM
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IDRPSTF
It's an 86 38' Flat Deck with all the goodies from top to bottom with T-625 hp & SSM3A drives. Everything is in beautiful shape.
$68000 was the deal.
Check it out at www.thunderboatalley.com/ddall_38.htm
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Old 04-29-2002, 04:11 PM
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This sounds like a sittuation I would be in........all in good time i guess.. my opinion ..if you have full rights by contract to keep the deposit and are comfotable doing so keep it.... someoen said you are too nice a guy.... thats my problem..
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Old 04-29-2002, 04:14 PM
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oops wrong button.. cut myself off..

as i was typing : I would prob keep any cost incured from the buyer backing out..and send him on his merry way....he may never have imagined that ins. would cost him so much... as was the case in my last boat.... good luck...
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Old 04-29-2002, 05:29 PM
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Dave,
Sorry to here that.
Paulie was just talking up your boat to a guy on Saturday and I told him it was sold. I'll let him know it's for sale again. Good luck!!!
Mark
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