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Hi Fred:
I buy and sell a lot of houses each year, and have bought and sold several
boats. EVERYTHING is negotiable!
I suggest you make a written offer, with a binder check, for 80% of the asking
price. The broker will most likely tell you it's a waste of time, but do it
anyway, (they are the seller's agent). If it is refused the seller may come back
with a counter offer reducing the price and offering terms, if not then you can
bring up the fact that you need more time to raise all the money. If their is a
broker involved, remember good ethics require him to relate everything you say to
the seller, so play close to the vest when you make the first written offer
Finally, I always feel better about extending credit to someone who negotiates
for the best price rather than one who will pay any price.
One other thing. Be sure you really want the boat at the 80% price and make the
binder check a big one, 25% or so. Money talks and BS walks!
Hope this helps.
Chuck
S/V TriMania
wrote:
> Hello-
>
> I swore I would not go in debt to purchase a boat. I have a contract on one
> right now that I can afford but on Monday, based on the surveyor's report, I
> will withdraw my offer.
>
> I have an appt to look at another boat next week, but I know it will cost
> more than my boat cash fund.
>
> Has anyone purchased a boat, with approx 80% in cash, and had the owner hold
> a note or lein for a period of maybe 90 days?
>
> Is it kosher to ask the owner/broker if he'll do this? I guess it all depends
> on how anxious the owner is to sell. Comments welcomed.
>
> Thanks-
> Fred
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