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integrity of a purchase ageement

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Old 04-19-2011, 04:37 PM
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Default integrity of a purchase ageement

I have a friend that went to a marina to look at a boat last month, he liked it, put in an offer and money to hold and signed a purchase agreement pending water test mid April. Last week he calls the salesman and he gives him the runaround..called back next day and gets a different salesman., he says boat has been sold. They never even contacted him. Is this legal or just chalk it up as that marina is BS!
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Old 04-19-2011, 04:55 PM
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First, was there deposit money put on the boat?
Was this a dealer owned boat or brokerage?
Was the boat HIN on the agreement?
What does the fine print read?
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Old 04-19-2011, 04:58 PM
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he put money down and has a signed agreement? someones nuts at the marine are gonna be in a sling!!!
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Old 04-19-2011, 05:02 PM
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Sorry I missed the depo part. It was a sh!tty thing for the marina to do but if he gets the depo back thats as good as it will get. Get the money and out the marina/broker. Then tell him to find another boat
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Old 04-19-2011, 05:07 PM
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Yea...that's about what I told him. Pretty shady
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Old 04-19-2011, 05:11 PM
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It really sucks that this world has become so "cut-throat" money-wise...

That is too bad for your friend. There is recourse "if" the boat's HIN number was a part of the deposit/purchase agreement.

Also, if the marina is a licensed dealer to sell boats, you can also file a complaint with the state's Department of Motor Vehicles.

Best of luck to him!
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Old 04-19-2011, 05:13 PM
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Probably should have nailed down a due date on the sale at the time of the purchase agreement. Mid-April means a lot of things to a lot of different people. 8:27AM on April 2 and the next salesman (or the same one) was looking for his quickest path to commision, and the dealer was looking to get it off the books. Make sure he plays hard ball getting his deposit back.

A good friend of mine in this industry said something I'll always remember. "It's not sold until you see tailights going down the street, and sometimes they still come back."

All sales staff know this; and hence they are motivated to sell today vs. promised sell tomorrow.

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Old 04-19-2011, 05:17 PM
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He can file a complaint if he's really that mad. As far as recourse, he can't show damages if he gets his depo back. Theres nothing he can do. A judge will say the return of the deposit is all that matters. Lots of good deals out there.
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Old 04-19-2011, 07:13 PM
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What's he looking for? I know of some good deals...
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