Make an offer before i see it?

[MAKC]

In my search for the perfect 2002+ 320DA, ive come across one that has everything im looking for at a price i think is right in the range. Im arranging to go see the boat in person but its a good 4 hour drive to get to it. The boat is being brokered and it has been suggested that i make an offer first before i go see it. That way i wont waste my time and money to go see a boat i wont be able to come to an agreement price-wise on later. While i see the logic in this suggestion, somehow making an offer on something i havent seen makes me uncomfortable. I suppose i could the offer contingent on it passing my visual inspection, marine survey, and sea trial. How long would be reasonable to put the closing out to? Any and all suggestions would be helpful. Thanks in advance

Mike

 

[Skip]

Who suggested making an offer before seeing it? The seller? The selling broker? I really think you have time on your side here. This is a buyer's market. Invest the four hours to go look, and if the boat is clean and the maintenance records look good, make an offer with a meaningful down payment, have a really knowledgeable and aggressive surveyor and Merc Mechanic lined up to go through the boat (as soon as weather permits), and do not back away from your due diligence responsibility. In the meantime, see if you can get the HIN and call 1 800 SR Boats to get the warranty history of the boat.
This is now a discontinued model. You have lots of negotiating chips. If this one sells to somebody else, there will be plenty more.

My .02
regards
Skip

 

[Pirate]

If you were worried the boat would sell while you were driving there to look, it would make sense to 'protect' your time investment with a contract prior to leaving, but in this market, I can't imagine that is necessary. The worst thing that could happen to you would be a wasted trip to look at a boat..... that beats a good day at work. :grin:

 

[Jaws]

MAKC,

We had a similar situation in October. We were interested in a 480DB in Wisconsin and spoke with the selling broker on several occasions. Actually drove across Michigan to see a couple of other 460's and 480's then planning to hop on the Hi Speed across Lake Michigan to see this boat. Weather cancelled the ferry. We returned home and I told the broker that it would mean a weekend trip with air fares, hotel, car rental just to see this boat so I wanted to know the realistic "bottom line" before all the costs for the trip.

I thought this was a reasonable request. He said "make an offer" before seeing his boat to see if the owner was interested. I refused and purchased a different boat a month later. Purely out of coincidence that same day I received a message from that broker of a probable "bottom line". It's fate. We bought the other boat.

 

[CSR_Admin]

It is very common and done all the time. Like Pirate said, you want to protect your time investment before making the trip. Trust me, if you think this boat is priced right many other people do too. As soon as the broker knows you are coming to see it he may let some other folks know that the boat will likely be sold in a few hours and to make an offer if they are serious. In this market boats are not moving very fast but a boat that is is priced right will still sell right away, we just sold a 280 in 3 days.

Make your offer contingent upon your personal inspection, and bring the deposit check with you but send the broker a copy prior. If you don't like the boat you can walk away, easy. The closing should be scheduled for 4 weeks from the day of the offer. This should give you olenty of time to see it, survey it, sea trial it and close on it. If you are motivated you can do this stuff as quick as 2 or 3 days, so 30 is plenty.

 

[barryg]

I had looked at a lot of 2005 320's (the year and model I had decided I wanted) here and on the west coast of Fla, before finding what I wanted at the price I wanted to pay in Kentucky (plus it was a fresh water boat kept under cover). I spoke directly to the owner, negotiated a price contingent on my inspection as well as the survey and sea trial and sent him a letter of intent with all that info as well as a $1,000.00 good faith deposit which he said he would hold and not deposit as long as I would be up there within the week.

To make a long story short, I did my inspection and had scheduled the survey and sea trial the same day, as well as a haul out so the bottom and running gear could be properly checked. There were a few items that needed to be fixed; and I was able to negotiate that into the price. We went to contract and closed about 2 weeks later and I love the boat!

Good luck with whatever you do!!
Barry

 

[osd9]

When I bought my current boat, I put a "binder" deposit on it with Marine Max before I saw the boat. It was nothing more than a "first right of refusal" agreement. No price and or terms were negotiated, ohter then, MM would not take a another deposit for (I think) one week from the time I gave them my credit card. However, I would bet that if anyone did come in with a good offer to buy, and a real deposit and contract, that my "binder" would have done nothing more than put me in a bidding situation....which I would have just walked away from.

 

[Newbie]

Same deal here, we searched and searched for the right boat and finally found it in Jacksonville, FL. I live in Raleigh, NC. I made an offer before hand contingent on my inspection, sea trial, survey etc. Also put a deposit by CC with an implied refund if not satisfied by me after all contingencies were done. Worked out great. But, 4 hours is not that far or a big loss of money or time with all things considered, your looking to buy a 100k+ boat. I had probably 300+ hours into the searching, driving and overnights before finding the right one. Just do whatever your comfortable with. SB

 

[searaycruisn]

I bought my boat sight unseen. I had a survey done and the surveyor gave me his opinion. The first day I saw my boat...was the day I picked it up!

I have a friend (in CT) selling a 2003 320. I can put you in touch with him, if you are interested. I know it has the bigger engines, and has about 200 hours on it. He is the original owner. No broker yet.

 

[Stray Cat]

I've used retainers also, that almost confirms if there REALLY is someone else looking at the same boat. It should also get you the right of first refusal with a date that you better poop or get off the pot. We once put a retainer on a boat after seeing the digital pictures. Drove 6 hrs one way to check it out, and it turned out to be a rag...the pictures were shot from the few good angles it had. No money exchanged hands. I'll never understand why people trash boats only a few years old...

 

[MAKC]

I bought my boat sight unseen. I had a survey done and the surveyor gave me his opinion. The first day I saw my boat...was the day I picked it up!

I have a friend (in CT) selling a 2003 320. I can put you in touch with him, if you are interested. I know it has the bigger engines, and has about 200 hours on it. He is the original owner. No broker yet.

Searaycruisin, i sent you a PM.

Thanks for all the input guys. MUCH appreciated.

 

[magster65]

I just did it. I had the price negotiated before I even started the truck. I made the offer with the usual 'subject to' clauses and a few faxes later the negotiating was done. When it came time I drove the 6 hours to Portland and went for the visual inspection and sea trial. The boat was exactly what they said it was so that was it... sold! So I left a deposit then and came home wired the money. Then a week later my neighbor and I took a road trip, picked it up and trailered her home.

 

[Alex F]

With our last two boats a travelling was a big factor. So, I didn't even think twice and made sure to get most of the price negotiations done before I even schedule to see the boats. I don't think any of us have luxury of time to waist on travelling for hours and only then learn that this deal is not even close regardless how much you like the boat. With my 240 I had to drive 4-5 hours. So, we've done preliminary negotiation until we felt it was worth seen it. With my 320 it was 22hrs drive. So, until I had everything in writing I didn't spent a dime on travelling. A proper contract is what will make you feel comfortable to sign anything and provide deposit. In my last deal on 320 (purchased from brokerage) an offer could only be presented with a 10% deposit check. When all contingencies were made on the contract, I made copy of the check I issued and faxed the paperwork over. Final offer was accepted and I fedexed my check with original signatures in the contract. At that time I knew that if I drive for 22hrs or fly there, if I like everything and all meats my criteria it's my boat and I didn't spend all the money and time for nothing. The risk factor will always be present, but it'll be determine on how good the contract is worded.

Good luck,
Alex.

 

[barryg]

So what did you get??? Give us more details...was it the 320? what year?

 

[sphengolly]

the boat will not sell that fast. Take the time to go look at the boat. Some times people tend to say their boat is in better shape then it really is and I can't believe some people idea of excellent condition. Good luck! :thumbsup: