Go Back  Offshoreonly.com > General Discussion > General Boating Discussion
escrow when selling a boat >

escrow when selling a boat

Notices
General Boating Discussion

escrow when selling a boat

Thread Tools
 
Old 07-13-2010 | 12:46 PM
  #1  
Thread Starter
Registered
 
Joined: Jan 2004
Posts: 707
Likes: 1
From: carolina shores
Default escrow when selling a boat

has anyone used a escrow agent when selling there boat how does it work and what if the buyer does not like the boat. can he hold up the funds. and what happens with the title. the will be shipped east to west coast buy his shipper. what happens if there is a crash on the way who is responsible just looking for info thanks for all help
JERSEY DEVIL is offline  
Reply
Old 07-13-2010 | 01:44 PM
  #2  
blume's Avatar
VIP Member
 
Joined: Jan 2004
Posts: 2,530
Likes: 5
From: Sherman, Texas
Question

Originally Posted by JERSEY DEVIL
has anyone used a escrow agent when selling there boat how does it work and what if the buyer does not like the boat. can he hold up the funds. and what happens with the title. the will be shipped east to west coast buy his shipper. what happens if there is a crash on the way who is responsible just looking for info thanks for all help
Are you saying your going to send your boat to CA with the buyers truck driver and not have all your money before the boat leaves the east coast?
blume is offline  
Reply
Old 07-13-2010 | 02:33 PM
  #3  
Chris's Avatar
Gold Member
 
Joined: Oct 2000
Posts: 997
Likes: 0
From: Erie, PA US
Default

i thought putting 5% in escrow unitl after sea trial was a fairly common practice? i would be VERY specific what the money in escrow is for (example: if the boat has a blown drive or the motor is junk) and i would also make sure that a broker or third party holds the money in escrow and not the seller.
Chris is offline  
Reply
Old 07-13-2010 | 03:00 PM
  #4  
HiPerf2000's Avatar
Registered
 
Joined: Oct 2000
Posts: 4,082
Likes: 2
From: N.E.
Default

wouldnt it be easier (and cheaper) for the guy to fly out to you and check out the boat and sea trial with a surveyor it at your location ??

The way you have it set up now, is if he doesnt like it he will have to pay to ship the boat back to you. seems stupid to me. could even be a scam.
HiPerf2000 is offline  
Reply
Old 07-13-2010 | 03:09 PM
  #5  
Thread Starter
Registered
 
Joined: Jan 2004
Posts: 707
Likes: 1
From: carolina shores
Default

all good answers i am going to talk to a lawyer and let him hold all money from buyer and when the boat gets there he can release money too me and than he can give him title i think who the hell knows
JERSEY DEVIL is offline  
Reply
Old 07-13-2010 | 03:23 PM
  #6  
ItsPeanut's Avatar
Registered
 
Joined: Mar 2008
Posts: 1,245
Likes: 0
From: Im close to water?
Default

I hope this doesnt turn out like that 39 outerlimits.
ItsPeanut is offline  
Reply
Old 07-13-2010 | 03:40 PM
  #7  
Thread Starter
Registered
 
Joined: Jan 2004
Posts: 707
Likes: 1
From: carolina shores
Default

i here ya ijust caught a guy tryin to get over on me 2 months ago with a fake check the account number was good but company it was drawn from was bs
JERSEY DEVIL is offline  
Reply
Old 07-13-2010 | 04:46 PM
  #8  
Dwane's Avatar
Registered
 
Joined: Nov 2002
Posts: 221
Likes: 0
From: Ohio
Default

I can do it for you. I have a escrow company and have done several in the past years
Dwane is offline  
Reply
Old 07-13-2010 | 05:06 PM
  #9  
Registered
15 Year Member
 
Joined: Mar 2006
Posts: 156
Likes: 2
From: Scottsdale, AZ
Default

is the buyers name Dominic??
fubard is offline  
Reply
Old 07-13-2010 | 07:06 PM
  #10  
Thread Starter
Registered
 
Joined: Jan 2004
Posts: 707
Likes: 1
From: carolina shores
Default

charles from washington state
JERSEY DEVIL is offline  
Reply


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2026 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.