So many questions before buying...

s022mag said:
Still waiting to find out if my boat is sold. Contract we signed gave the guy 10 days to do all his test and that ended Thursday. Called my broker on Friday and he said the mechanical test was done Thursday and he’s waiting to hear the results. I was told last weekend that the MT was suppose to be done earlier in the week. Either way I haven’t heard crap. Guy still wants to do a sea trial?? We cut a weekend short on a trip and cut out another weekend for this deal. Going on 3 weeks. What pi$$es me off the most is the idea if this deal falls through then I’m stuck doing oil changes and winterizing in mid November in Ohio.
Click to expand...

It could be worse....you could be a two boat owner right now :)
 
techmitch said:
Did/does your contract dictate what would happen to the buyers deposit should he/they not adhere to the conditions of said contract?
Click to expand...

I don’t believe there was any clause about that. I figure like any other broker looking to make commission they’ll let them take as long as they want. Wrong time of the year for that.

Called broker today and he’s off, unreal.
 
Sometimes brokerage houses use an industry standard contract form that is pretty vanilla and leaves a lot of the fine points out which invariably favors the broker. THe contract should have a section that states "time is of the essence" which mean get off your butt and do your due diligence immediately or as soon as reasonably possible......certainly not when it happens to be convenient.

If you happen to have one of those vanilla contract forms, then take the bull by the horns and force the broker to perform. If there are no specific dates, then tell the broker "This deal closes by Friday or I'm going to cancel the listing and list the boat elsewhere", which you probably cannot do because of the terms in the listing agreement you signed. If the broker realizes he hasn't earned his commission and his 10% is about to head south, he will probably get moving. He will give you an excuse which may really be grounds to cancel the listing or he will get his buyer in gear........who is could be "slow-walking" the deal to force you to winterize the boat or to even delay the closing until Spring.
 
Everything I read on the contract is tht I can pull the plug any time I want. He had 10 days after we both signed the agreement to complete survey, mech test, and sea trial. Closing was suppose to be 21 days after the agreement was signed.

Original agreement date was 10/15 but we did some changes based on price. I signed my copy and faxed it back on 10/21. That gave him to the end of Oct to do all test. He had a mech test done on 11/1 or 11/2. Closing should be 11/12.

I will winterize the boat, that’s not a big deal. I just don’t understand why this guy is so slow when winter is knocking on the door.
 
Well, spoke to soon. After owning the boat for 5 seasons and it always being turn key, the sea trail that went down on 11/9 at 10am in 30 degree weather was to much for my port engine and I now have a drivetrain issue. Just perfect.
 
s022mag said:
Well, spoke to soon. After owning the boat for 5 seasons and it always being turn key, the sea trail that went down on 11/9 at 10am in 30 degree weather was to much for my port engine and I now have a drivetrain issue. Just perfect.
Click to expand...

Sorry to hear of your troubles.

MM
 
You must log in or register to reply here.

Forum statistics

Threads
113,182
Messages
1,428,060
Members
61,088
Latest member
SGT LAT
Back
Top