Deposit or not?
10-19-2010, 07:01 PM
#11
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You can structure the deal any way you want, but there are ways to protect yourself. I like the idea of a deposit because it helps separate a bonafide purchaser from the tire kicker/prospects. You can have the deposit refundable or nonrefundable, it is up to the seller and buyer to have a meeting of the minds (agreement). I prefer signed documents, agreements, but I am a lawyer that explains my take on this matter.
10-19-2010, 07:05 PM
#13
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dont really see the price being an issue. regardless of the price, the purchase has the same meaning to both buyers. $50k to a $50k range buyer has the same asthetic value as $500k to a $500k price range buyer. i've dealt with buyers of both types and more so then not, they buyer of the lower end product was much more pleasurable to deal with...and i've been in retail for 20 years
10-19-2010, 07:07 PM
#15
Funny story on this subject....
My buddy sold his 07 TG through a broker friend. Broker was bringing everyone and their mother over to see the boat. They went for 4-5 boat rides without a single offer, so my buddy tells the broker $500 non refundable deposit for any rides. Boat was lift kept and 5 minutes from full throttle water so it wasn't a huge inconvenience but it became annoying with the free loaders. A couple guys balked at the $500 but he had a young guy from NY that was trying to be a player......he put the $500 down (which was fully applicable to the purchase just not refundable). John put the $500 in the tank with the guy onboard. He tried his best to trade everything under the sun (Z06 Vette, small cat, motorcycles) but wanted full retail on his "trades" yet only wanted to pay rough book on the TG. Boat sells to an out of state buyer who had it surveyed and paid for by wire transfer before ever entering the state! Meanwhile the NY guy is still making stupid offers (at this point the boat is sold/delivered). The NY guy rode on it twice, never offering more than 125K for the boat and was trying to get his $500 back.....a month after the boat was gone!
Good luck.......
My buddy sold his 07 TG through a broker friend. Broker was bringing everyone and their mother over to see the boat. They went for 4-5 boat rides without a single offer, so my buddy tells the broker $500 non refundable deposit for any rides. Boat was lift kept and 5 minutes from full throttle water so it wasn't a huge inconvenience but it became annoying with the free loaders. A couple guys balked at the $500 but he had a young guy from NY that was trying to be a player......he put the $500 down (which was fully applicable to the purchase just not refundable). John put the $500 in the tank with the guy onboard. He tried his best to trade everything under the sun (Z06 Vette, small cat, motorcycles) but wanted full retail on his "trades" yet only wanted to pay rough book on the TG. Boat sells to an out of state buyer who had it surveyed and paid for by wire transfer before ever entering the state! Meanwhile the NY guy is still making stupid offers (at this point the boat is sold/delivered). The NY guy rode on it twice, never offering more than 125K for the boat and was trying to get his $500 back.....a month after the boat was gone!
Good luck.......
10-19-2010, 07:11 PM
#17
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trust me buddy...i've been on both sides of the fence and dealt with both private buyers and sellers as well as brokers and marinas lol. between 04-08 bought and sold 4 boats. bought 3 in state and 1 out of state, sold 3 out of state and 1 out of the country so i dealt with all kinds. And i have a document saved on my desk top that i just change the product description and hull id# on, change the names and hit print lol
10-19-2010, 07:17 PM
#18
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Location: Channel Islands, So. Cal.
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I've always heard about the "tire kickers" and "free loaders" looking for a free boat ride. I don't know if it's because we're on the West Coast but I've never had a TRUE problem with this (people BSing on the phone is always a problem, but showing up for a free ride has never happened).
The last two boats I sold, I talked to the buyers on the phone at length, answered all the questions I could, tried to be as helpful as possible and when it came time for a see trial I said, "Kick down a few hundred for gas and we'll roll". Sh!t, the OSO member that bought our Cig came out for the day from Fl. and we spent most of the day running the boat and hanging out. Actually have become good friends over the deal. Going to visit him and run our old boat the Wed. before Key West
I figure if someone wants to come out for a ride, fill up the boat and lets do this. I don't turn down free gas money to run my boat
The last two boats I sold, I talked to the buyers on the phone at length, answered all the questions I could, tried to be as helpful as possible and when it came time for a see trial I said, "Kick down a few hundred for gas and we'll roll". Sh!t, the OSO member that bought our Cig came out for the day from Fl. and we spent most of the day running the boat and hanging out. Actually have become good friends over the deal. Going to visit him and run our old boat the Wed. before Key West
I figure if someone wants to come out for a ride, fill up the boat and lets do this. I don't turn down free gas money to run my boat
10-19-2010, 07:24 PM
#19
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see id give the deposit and make the seller right up something saying that i had first right or refusal. because what happens if you pay to get the survey done today, and tomorrow someone comes and buys the boat ? you just pissed away the $350-$700 depending on what kind of survey you had done. I've always gotten close to a bottomline line figure prior to even looking at a boat unless it was very close, if that price is reasonable then i will go look at it, then will leave a deposit "subject to sea trial and satisfactory survey". If i like how it rides, and it passes the survey its a done deal ...just my $.02
You can say what you would do. All I said is how I bought mine. I didnt have to worry about losing any $ because the seller paid for the survey. I no that doesnt happen to often. So I wasnt out anything if the boat sold. Now... If I were paying for the survey I would have done things differently.
10-19-2010, 07:39 PM
#20
JC Performance Engines
Gold Member
I won't consider buying a car w/o a test drive.
Why would I buy a boat w/o one?
It is fairly easy to screen buyers. Just don't go giving rides to just anyone.
When i sold my boat, i gave one test ride. No sale. Not even a bid.
Real buyer called from over 700 miles away. Talked to him half a dozen times. Bought sight unseen. Plenty of pictures and live audio of the engine running sold it.
Jay, any local guy may be looking to go for a ride.
Just get a good feel for them.
I never rode in a Kryptonite. I may not like it.
Wouldn't want to lose a deposit over that.
Hence the term "pending sea trial".
Why would I buy a boat w/o one?
It is fairly easy to screen buyers. Just don't go giving rides to just anyone.
When i sold my boat, i gave one test ride. No sale. Not even a bid.
Real buyer called from over 700 miles away. Talked to him half a dozen times. Bought sight unseen. Plenty of pictures and live audio of the engine running sold it.
Jay, any local guy may be looking to go for a ride.
Just get a good feel for them.
I never rode in a Kryptonite. I may not like it.
Wouldn't want to lose a deposit over that.
Hence the term "pending sea trial".
