Boat selling advice

[Gavi]

We accepted an offer on our Freeman that was an acceptable level (c.8%) below the asking price. The offer was conditional on some works which I have duly done and paid for (c.another 8% of agreed price). The survey was done 6 weeks ago and no issues reported. The buyer has finally come to the table to complete (to be fair there were some issues with the heater that had to be resolved and the brokers did a good job of getting this done while I was away)... but has asked for a further 11% off the agreed price because the survey said "the hull might need some work in the future". A fibreglass hull on a 30 year old boat that I had professionally maintained and treated in the summer, and a concern he did not raise after the survey. This equates to 40% off a sensible asking price (£14k + me being prepared to pay for works) for a popular cruiser. Is he taking the p*ss?

I don't need the money and have moorings so am tempted to take the boat off the market, do some further tidying works that are needed and put her back on brokerage in March.

Equally, SWMBO wants a conservatory and I cannot be bothered with hassle... yet do not go through with transactions that will annoy me even thinking about them. Like this.

Thoughts?

 

[Ramage]

I think he is extracting the urine.

It may well be , now that we are heading into winter, that he is getting cold feet. He may not want to pay to moor (or put her on the hard) over winter.

Also, you agreed a price and paid for work to be done. Now he comes up with a flimsy reason to reduce his offer still further.

As you can moor her over the winter I would politely refuse his amended offer and try again in the spring.

 

[pheran]

I'm confused. On the one hand 'The survey was done 6 weeks ago and no issues reported. but on the other 'the survey said "the hull might need some work in the future" Did the latter refer to any specific concern or was it the usual CYA remark that surveyors are prone to make, especially in relation to 30-year old boats? If there is no problem identified at present, I'd call the buyers bluff and see how ready he is to waste the money he has already paid out for the survey etc
Our purchase procedures certainly leave a lot to be desired. Our continental cousins seem to have it much better sorted.

 

[Richard Shead]

You never know

I'm confused. On the one hand 'The survey was done 6 weeks ago and no issues reported. but on the other 'the survey said "the hull might need some work in the future" Did the latter refer to any specific concern or was it the usual CYA remark that surveyors are prone to make, especially in relation to 30-year old boats? If there is no problem identified at present, I'd call the buyers bluff and see how ready he is to waste the money he has already paid out for the survey etc
Our purchase procedures certainly leave a lot to be desired. Our continental cousins seem to have it much better sorted.

The buyer may read these forums, you will be surprised who does...

 

[byron]

He's a Messer trying to screw you. Contact him and tell him you aren't prepared to drop any lower than the first agreed price and if he can't meet it then you will simply put the vessel back on the market.

 

[oldgit]

If you need the money sell.
If you dont.........Sorry,and thank you for your interest, but as its such a nice cared for boat I am confident that it will sell to someone who appreciates its qualities and will achieve a better price later on.If you change your mind you know my phone No etc etc.....
Simples !

 

[No Regrets]

Exactly the same situation I found myself in when the Birchwood 25 was sold!

The idiot paid a deposit after a satisfactory survey was carried out, along with some pleasant remarks from the surveyor, but his 'friend' advised him not to buy a boat with Osmotic blisters.

Hard not to, when you consider the entire parc of 1970's/80's Thames GRP vessels eh, if not impossible.

The fact is, there is nothing wrong with your Freeman, other than the buyers lack of knowledge. Do what I did, tell him you will not accept his post survey offer, and he'll lose his deposit, same as Mr Idiot did with No Regrets.

I didn't bother surveying the Broom. I just accepted it would have masses of blisters, and that it won't make any difference either way. That way I can't get too disappointed at a later date

The harsh reality is, decent (i.e. Tidy and well kept) Freemans will always sell quickly to people who love the marque and image.

Do not entertain these people mate!

 

[Gavi]

The buyer may read these forums, you will be surprised who does...

Indeed. The broker's brother does

That is why I have been slightly vague about details, but specific enough to get a fair view. I think what is happening is wrong and I would never transact that way. I'd rather have a transaction I am happy with - that is worth more than a few hundred quid.

No Regrets's point is interesting. I accepted an offer subject to survey. Survey was done and no specific issues raised until now.... doesn't feel right to me.

 

[No Regrets]

Sounds like the same person....

Thames Boat Sales were instrumental in reselling the old girl as promptly as they did first time around, and for the same price with none of the aggro.

It might be different if we were talking about a £100,000 boat, but seriously guys, a £10-15,000 boat is small change as far as boats are concerned are they not? I'm not trying to deride budget boats, because we also all know they usually provide more 'pleasure' than far more expensive ones, but one simply expects them to be 'Usable' and 'Servicable' rather than in any particular state of newness.

Even the roughest old dogs will probably still give a few decades of pleasure FFS....

Love to see how this ends Gavi!

 

[rr_123]

has asked for a further 11% off the agreed price because the survey said "the hull might need some work in the future".

Definitely a p155 taker, but don't take it personally, at the end of the day this is a business deal, and I must confess that in his position I'd quite possibly be doing the same...

Even having the access to moorings, there are other costs associated with keeping her for another 6 months before starting to look for another buyer; having to relicense in Jan, another "year" off the bss certificate, the hassle of maintaining the lines during the wet season, plus the time and real costs associated with the "other little jobs" that you are thinking of doing.

That said she's a great boat and you will have no trouble finding a buyer in the spring

Don't give in, maybe meet him part way, get it behind you, and get the Mrs a conservatory. If he stands his ground and won't negotiate, tell him to eff off.

 

[Marine Reflections]

There will be more Freeman buyers out there, but there will be also more Freemans for sale.

You mention some further tidying works? Is this 40% off its value?

You have made good the original concerns after survey, Yes the hull will need some work in the future but so will everything else..

Present it 100% with no reason for negotiation, keep it on the market at the asking price or more due to recent improvements.

If there is still a 'snag list' of things left to do if you were to take it off the market then get them dealt with if you want the asking price.

If you want to pass these on then accept there will be a much lower offer on the table.

I recently purchased yet another antique writing box at a car boot, when I asked how much they wanted for it I was told "£100.00" more than fair I thought, but on hearing this another man lifted the lid and the whole lid came off where it had not been screwed down.
Aaahh said the seller it just needs the lid screwing down...
I raised my eyebrows slightly and thanked him for telling me, and picked up an ornament he was selling. The first buyer walked off allowing me a further casual look at the writing box. Will you take £20 for it I said, holding back a cheeky grin... The man just laughed out loud as if I were mad and said "no".

"I really don't think it's worth much more than that" I said " I wouldn't want to go to thirty it does have a broken lid"

"the screws just need putting into the hinges" he said " I cant take any less than £50 for it"...

He settled for £40 happy.

I walked off happy.

Why didn't he just screw the lid on?

 

[apollo]

I trust you took a deposit?

If you did, keep it, and tell them to naff orf

 

[DWT]

He is either trying it on to see if he can bag a bargain or he understands very little about boats of that age. Either way I would just tell the broker that there is no deal and let him sort it out. Chances are if the buyer really wants the boat there will be a sensible deal to be done.

Very frustrating to get so far down the line and then having this issue thrown at you, but you should try and see it as a business deal and avoid the emotion which can get in the way of good judgement.

 

[heron]

Would definatly hold out for a better price, we all like a bargain, but that is just taking the micky. You may be supprised how many winter buyers are out there, I sold my last boat at the end of the season with the hope of finding a winter bargain. There were not many boats about through the winter yet there did seem to be buyers with boats being bought at close to their asking prices. Each time I took a week or so do think about making offers I ended up missing out on them. The little jobs that need doing are worth doing, I looked at quite a few unloved boats that would have only taken a few days work to tidy up and they would have got their asking price.

 

[Gavi]

Very frustrating to get so far down the line and then having this issue thrown at you, but you should try and see it as a business deal and avoid the emotion which can get in the way of good judgement.

Sound advice and words repeated by others. Having done some sums and chatting with the broker I've opted to put this one down to experience and accept the offer. I am not happy about it, but then I turned down an offer on a house a couple of years ago and look where happened there!

 

[David_Jersey]

I would look at the sale agreement and decide whether you can force the sale through on pain of extracting a penalty for non-completion..........albeit I suspect the "issues" on the hull if included in the Survey would be enuf for the buyer to withdraw penalty free..........the fact he has raised this issue late on neither here nor there. Of course if these hull issues are simply based on "a man in a pub" down to the buyer to prove, at his cost.

My bet is he is trying it on, and if the sale price is reasonable for the boat "as is"..........I would enjoy telling him to write a cheque for the full price or f##k off

 

[andybris]

He's definately taking the p*ss.
I sell quite a bit of stuff on ebay, and more often than not, the winning bidder turns up and bids you in the b*llocks (motor trade term,sorry)
It is a buyers market, unfortunately, at the mo.

You say you don't need the money, well I would pull the plug on the deal, if he's a serious buyer he will re-negotiate.