pepeborja
New Member
[FONT=Arial, Helvetica, sans-serif]I read somewhere that one process for buying a boat in the off season when a boat is on the hard and winterized is to agree on the selling price and set aside a Sea Trial escrow of say 10% to 20% of the deal. So a $50K boat would probably leave an escrow of $5K~$10K based on the results of the survey.[/FONT]
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[FONT=Arial, Helvetica, sans-serif]I guess the way it works is that when the boat is re-launched the Sea Trial takes place and if the boat has major issues the escrow is not disbursed leaving the escrow money free to remedy the problems for the buyer. In essence the escrow is backing up the seller's word that the boat is as cherry as it was described.[/FONT]
Is that something that is done common place?
Thanks
JB
[FONT=Arial, Helvetica, sans-serif][/FONT]
[FONT=Arial, Helvetica, sans-serif]I guess the way it works is that when the boat is re-launched the Sea Trial takes place and if the boat has major issues the escrow is not disbursed leaving the escrow money free to remedy the problems for the buyer. In essence the escrow is backing up the seller's word that the boat is as cherry as it was described.[/FONT]
Is that something that is done common place?
Thanks
JB