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escrow when selling a boat

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Old 07-13-2010, 01:46 PM
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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
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Old 07-13-2010, 02:44 PM
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Originally Posted by JERSEY DEVIL View Post
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?
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Old 07-13-2010, 03:33 PM
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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.
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Old 07-13-2010, 04:00 PM
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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.
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Old 07-13-2010, 04:09 PM
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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
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Old 07-13-2010, 04:23 PM
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I hope this doesnt turn out like that 39 outerlimits.
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Old 07-13-2010, 04:40 PM
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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
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Old 07-13-2010, 05:46 PM
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I can do it for you. I have a escrow company and have done several in the past years
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Old 07-13-2010, 06:06 PM
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is the buyers name Dominic??
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Old 07-13-2010, 08:06 PM
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charles from washington state
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