Advice on Selling Boat

[Rob_Webb]

Maybe right. Could also have a trusted and worldy-wise friend alongside as a sounding-board if anything stil looks strange. But if the chap's CHAPS money actually arrives in your bank account, then I think you are OK. Your bank should verify this.

But if the whole thing is still caus ng bad vibes then walk away and stick with your more conventional sounding prospective buyers, hopefully one of which will bite.


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[hlb]

Reading the original post again. My other feeling is that it would be very easy to start finding fault with the boat once it arrives and after a waisted day, difficult to reject a reduced offer. Naa. Stick to plan A and get the guy to come and view it at home, then if he dont like it he can piss off and nothing is lost.

<hr width=100% size=1> <font color=blue>No one can force me to come here.<font color=red> I'm a volunteer!!.<font color=blue>

Haydn

 

[jfm]

Agreed

Yes, totally excellent method Robb. That is very precisely what happens when company A takes over company B for £10bn cash.

This only works for sure if the CHAPS instruction is given early in the day. In M&A work the delay risk is managed by having bank accounts in different time zones. If buyer is happy by 10am and instructs CHAPs by then, the money will land in seller's account same day. But if he is not happy till say 3pm, you're running out of time. Answer - seller opens account in USA. New York gets you extra 5 hours for the money to land, SanFran gets you 8, and Honolulu gets you 11 I think. Probly this is a bit ott for selling a boat however....

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[amf]

Thanks to everyone for their advice. I am now confident to move forward. I have two people on sea trails this weekend. I have sent the "cash" guy a contract (based on RYA contract) to sign and asked for a deposit cheque. I have told him that as soon as I receive this I will take it off the market (assuming I haven't received a higher offer at that stage). I will do the same with the guys this weekend if they make offers.

They will then have 14 days to "complete" - They can xfer money to my bank during this time or on day of completion (CHAPS). I will then hand over boat, bill of sale and previous paper trail.

BTW: The cash guy has now offered me the full asking price!


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[Rob_Webb]

Well done, good luck and do keep us posted on progress/outcome!

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[Happy1]

Well done, but proceed with caution. Some people are at their most vulnerable when everything is going better than expected and let their guard down. Always good to have someone independent to bounce ideas off, or to check that what you are doing is right. Using the forum has worked for you, so don't be afraid to ask any more questions, and keep on your toes until that money is cleared and in your bank /forums/images/icons/wink.gif

<hr width=100% size=1><font color=purple> "You only see what you recognise, and you only recognise what you know" <font color=purple>

 

[Rob_Webb]

Any joy?

How'd it go this weekend?

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[amf]

Re: Any joy?

Yes, one of the guys that came for a sea trial this weekend made me an offer. He has given a deposit and signed a contract. Transfer of balance should be this week with a view to completion at weekend.

I have told the "cash guy" that he is next in line should this fall through.

Thanks again for your help. Will let you know the final outcome next week.

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[amf]

Done and dusted!

New owner picked up the boat this weekend. Money in bank, and new boat arriving end of Sept.

Cheers!

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[lanason]

Re: Done and dusted!

Well done indeeed

So what was the old boat that you sold and more importantly what is the NEW boat - could it be an ex Southampton Boat Show display boat - they should be around end Sept !!

<hr width=100% size=1>Adrian
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[amf]

Re: Done and dusted!

Old boat was a Seaswirl Striper (Amercian boat) centre console. New boat is a Sealine S23. It was the trade in offer (within 2 years) that clinched it for me. Going to see it in the factory in a couple of weeks (just before the boat show).


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