I got my boat for sale and what do you think is the best way to keep me from taking joyriders out? I was thinking if they are serious enough to take a test ride then they can fill up the boat with gas on the way out? Any other ideas? This is the boat. http://www.offshoreonly.com/esvon/page-12195.html

Thanks Mike

deposits before rides scares the joy riders away.then use the money for gas...

What kind of deposit? $1000? Refundable or non-refundable? Thanks Mike

Cash Deposit of $100.00 or more up front for gas. This should keep the tourist away. If they buy, the money is refunded.

$75 won't even get me out of my canal to where I can get up on plane.

credited when they complete the purchase.

Or you can do what I did, make the test drive part of your survey. If they are willing to pay for a survey the're already deep into it.

When you buy a home, the purchase is contingent upon an inspection. That comes after a binding contract is executed and a deposit is placed. A high-value boat should be no different. Your sales contract should stipulate the terms acceptable based on the results of the inspection and what percentage of the deposit would be returned if the property failed specific areas of the inspection. If the inspection turned up specific elements that differed from the seller's statement of condition and performance, the buyer should be entitled to 100% of the deposit returned. If the buyer just changes their mind, an amount equal to compensate for reasonable time and expenses could reasonably be withheld.

If you want to avoid misunderstandings that will cause grief and friction (and possibly litigation) your sales agreement should be as complete as a standard real estate agreement- maybe you can get a copy from a professional broker- most are very similar.

On the other hand, you do risk scaring a buyer away- they're pretty scarce these days- especially in January.

I've only sold one boat and it was to a friend so maybe this is crappy advice but I would want to see a bank approval letter before I took somebody out in a $300,000 boat. Personally, I am fresh water rack storage and 5 minutes to Lake Michigan. To me, taking somebody out is no big deal, kind of fun actually.

I'm right on with Chris. I always asked about financing to find out where the money was coming from before they got behind the wheel. I agree with a contract, but you can find out alot about a buyer just by smart conversation. Good Luck!