Advice on buying.....next steps?

[martinteeluck]

First-off and being my first post.....a big Hi to all!

My partner and I have made an offer on a boat we really like (via a broker) but 12 days on we have had no feedback on whether the seller is interested. Having chased the broker a few times we only know that another couple were looking at the vessel last week.

There are another 3 boats that we would also consider viewing however we're loathe to do this until such time clarity is received on our offer.

How would the wise sages of this site recommend we (politely and respectfully!) speed up the selling process and/or is this timescale normal...or should we just go ahead and view the other boats withdrawing our offer should another vessel prove attractive?

Any tips or comments to assist us with what is our first and very inexperienced boat purchase would be gratefully received!

Many thanks,
Martin

 

[DavidMcMullan]

You don't say how close your offer was to the asking price. Maybe the owner is waiting to see if he gets a better offer. You could put a time limit on your offer. D.

 

[Spyro]

You don't say how close your offer was to the asking price. Maybe the owner is waiting to see if he gets a better offer. You could put a time limit on your offer. D.

I would agree with that, 12 days is excessive. As you say you have other boats in mind so put that to the broker.

 

[[70521]]

Its a fickle game at times.

As other posters have said tell the broker that you are looking at other boats and that the offer is time limited. If you don't find anything better you can always come back and make a new offer.

 

[martinteeluck]

Thanks for your responses...
Our offer was 5% less than asking price (based on a combo of work we felt needed undertaking and the market value of other vessels).
I'll take your advice on board and see if that will move the sale forward although we really wish to avoid "hopping" from one offer to another.
Wish us luck and thanks again!
Martin

 

[jonic]

12 days is a bit long. Was your offer a long way from the asking price?

 

[doug748]

Send a letter to the broker. Letters are much better than anyting else, they sit on the desk and beg to be attended to:

Dear Bill,
Thanks for showing us over the Saucy Sue last month and for taking our offer to the owner.
As we would like to be up and sailing this season, we have now identified two or three other boats to inspect and will be arranging viewings quite soon.
Perhaps you could let the owner know that our offer is still on the table and that we have finance in place. It is not a question of deadlines but there obviously comes a point were we will have to move on.
Thank you again for your help in buying our first boat.
Yours..etc

 

[nickd]

Tell them you have seen another suitable boat that you like and they have 12 hours to make a decision or you will withdraw and put an offer on the other boat.

 

[[70521]]

You never know the seller might be on holiday?

 

[SimbaDog]

In my opinion that's a bit of a joke, I would expect a reply with 48hrs myself.
Unless of course you have made a really silly offer!

 

[maxi77]

Tell them you have seen another suitable boat that you like and they have 12 hours to make a decision or you will withdraw and put an offer on the other boat.

I chap I know out here made an offer on a house which the seller turned down, but came back some time later willing to accept the offer, but the buyer told the chap that his offer was now lower because of the delay. Make it clear if you withdraw the offer you will only accept a lower price.

 

[jonic]

Send a letter to the broker. Letters are much better than anyting else, they sit on the desk and beg to be attended to:

Dear Bill,
Thanks for showing us over the Saucy Sue last month and for taking our offer to the owner.
As we would like to be up and sailing this season, we have now identified two or three other boats to inspect and will be arranging viewings quite soon.
Perhaps you could let the owner know that our offer is still on the table and that we have finance in place. It is not a question of deadlines but there obviously comes a point were we will have to move on.
Thank you again for your help in buying our first boat.
Yours..etc

That is a very good letter.

12 days is too long to wait with no feedback, but was the offer a daft one?

 

[Aeolus]

Disagree about the letter- it does't specify any deadline so won't make any difference.

I think you need to state, by letter or e-mail or even by phone, that you need an answer within...say....3 days, or if they need longer for any reason, they must tell you when they will give you a decision.

That way you'll find out where you stand.

 

[AntarcticPilot]

In my opinion that's a bit of a joke, I would expect a reply with 48hrs myself.
Unless of course you have made a really silly offer!

When I made an offer, the broker rang the owner there and then and got an immediate answer. I'd certainly expect the broker to ring the owner immediately, and to relay the response back to me. Of course, holiday and/or work may spoil that one, but in these days of mobile phones, you have to be fairly unlucky for someone to be uncontactable - and if I were selling a major asset, I'd take care to be contactable!

 

[jonic]

When I made an offer, the broker rang the owner there and then and got an immediate answer. I'd certainly expect the broker to ring the owner immediately, and to relay the response back to me. Of course, holiday and/or work may spoil that one, but in these days of mobile phones, you have to be fairly unlucky for someone to be uncontactable - and if I were selling a major asset, I'd take care to be contactable!

If it were me they would have had an answer in about 1/2 an hour, certainly within 24. I think we need to know just what the offer was, if it was sensible the broker would have been (or should have been) all over it to get a contract out.

 

[martinteeluck]

Wow! Thanks to all for the generosity with your time
Apologies if there's a disconnect between your posts and my answers but my earlier posts are currently being moderated before being submitted (is this true for all?)
Really do appreciate your points and views and have taken them all on board - ended up calling the broker again directly outlining that we really like the boat but would have to assume that they/vendor wasn't interested in our offer were I not to hear hear back by close of play.
Response was more affirmative this time round and broker was very understanding - will keep you posted as to what outcome this provokes.
Thanks again you beautiful people!
Martin

 

[wotayottie]

First-off and being my first post.....a big Hi to all!

My partner and I have made an offer on a boat we really like (via a broker) but 12 days on we have had no feedback on whether the seller is interested. Having chased the broker a few times we only know that another couple were looking at the vessel last week.

The other offer is better, they are negotiating a deal and you are being held "in reserve" in case the other deal falls through.

Walk on. There are loads of boats out there.

 

[Richard10002]

If you haven't had a reply in 12 days, despite some persistence, your offer is obviously not acceptable, even if it is - if you get my drift.

Go and look at the other boats and see what happens?

As has been asked a few times... What is the asking price and what was your offer?

 

[Kukri]

My day job involves buying and selling ships, from time to time.

It's very similar - in fact the YBDSA form used for yachts is a simplified crib of the Norwegian Saleform used for ships.

We often make and receive offers with a time for reply of twenty minutes.

 

[dave.m]

I have no experience in buying boats, but perhaps a useful analogy.

If this was an offer on a house you wanted to buy, I suspect you would have moved on by now? Forget it and find something else.