Buying a Boat

[purplerobbie]

I'm Having no luck at all trying to buy a boat.
The last one fell through because of how he wanted paying
And it looks like this one is going to fall through because no one ever bothers getting back to me??
I'm starting to think people dont want to sell there boats?

Rob

 

[Talbot]

Buy mine, I am sure we can come to an agreement!

 

[purplerobbie]

Dont really want a cat.
Can i have just half?
Rob

 

[douglas_family]

[ QUOTE ]
Dont really want a cat.
Can i have just half?

[/ QUOTE ] /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif

 

[Richard10002]

[ QUOTE ]
I'm Having no luck at all trying to buy a boat.
The last one fell through because of how he wanted paying
And it looks like this one is going to fall through because no one ever bothers getting back to me??
I'm starting to think people dont want to sell there boats?

Rob

[/ QUOTE ]

Not sure if you are looking for a go at a solution but;

How did he want paying, why did that put you off, and why wouldnt he go along with your proposed way of paying.

How far have you got with the current purchase, and who are you trying to get back to you with what news or information.

 

[purplerobbie]

I offered to do a bank transfer and he refused. He dosent want to give me his bank details?
I told him that i took a bankers draft for mine but they take a week to clear (i never knew that)
In the end he said he wanted a bankers draft fo the full amount and i would have to wait until it cleared until he would sign the boat over.

So he would have both the boat an the money?? this dosent seem like a good idea to me. and he is going away from the weekend until the begining of june.

I think it has gone as far as it can without someone showing a bit of faith. But i'm not showing twenty five thousand pounds worth of faith.

Rob

 

[jimmy_the_builder]

Book 25k in cash from the bank. Take the seller and the boat papers to the bank with you. Get the cash out. Give it to him. Get him to sign the papers there and then ie still in the bank. Let him decide whether he wants to immediately pay the cash back in.

I did exactly this when I bought my first boat (albeit for 8k rather than 25k) and it worked very well for me.

Cheers
Jimmy

 

[ShipsWoofy]

[ QUOTE ]
Dont really want a cat.
Can i have just half?
Rob

[/ QUOTE ]

philistine!

 

[purplerobbie]

[ QUOTE ]
Book 25k in cash from the bank. Take the seller and the boat papers to the bank with you. Get the cash out. Give it to him. Get him to sign the papers there and then ie still in the bank. Let him decide whether he wants to immediately pay the cash back in.

I did exactly this when I bought my first boat (albeit for 8k rather than 25k) and it worked very well for me.

Cheers
Jimmy

[/ QUOTE ]

This isnt a bad idea but he can only meet of a weekend
Rob

 

[Richard10002]

[ QUOTE ]
I offered to do a bank transfer and he refused. He dosent want to give me his bank details?
I told him that i took a bankers draft for mine but they take a week to clear (i never knew that)
In the end he said he wanted a bankers draft fo the full amount and i would have to wait until it cleared until he would sign the boat over.

[/ QUOTE ]

MMM! He doesnt trust you with his bank details, and you dont trust him with your money, and he can only meet at weekends.

You could offer to deliver £25K in cash to him at the weekend?

I guess this is where a broker comes into their own... holding the deeds/bill of sale/registration until your money clears, and they would have no problem giving you their bank details.

I suppose a lesson to be learned is to agree the method of payment at the time of the offer and "acceptance" - otherwise all the rest is a waste of time and money - your time and money.

In a private sale I suppose you could employ a pair of solicitors to do it like a house sale.

Dont understand the reluctance to give out bank details - every time we write a cheque, the receiver gets your bank details 'cause they're printed on the cheque - a system which has worked for many many years.

I know we dont often use cheques these days, but it's not so long ago that they were the option of choice.

You could drop him a line explaining the above..... he'll probably think you are a smart arse however carefully you word it, but could be worth a try.

Too late if he's clearing off, and you might be thinking he can stuff it anyway.

 

[bbg]

You could do it through a solicitor. Have the solicitor hold both the money and the relevant documents in trust until seller is satisfied the cheque has cleared. Solicitor then delivers the money to the seller and the papers to the buyer. Or, if the money doesn't clear (which you know it will) solicitor returns the papers to the seller.

Or tell him to set up a new bank account specifically for this transaction - for £25 k, that is not a lot of hassle - if he really wants to sell.

 

[wayneA]

Hi Rob

Sorry to hear you are having such issues. /forums/images/graemlins/frown.gif

You may want to look at using a solicitor to hold the money in 'escrow' (sp?) which is were the solicitor holds the cash in a named account and confirms to the seller that all is okay, then the seller transfers title to buyer, when transfer is confirmed all okay, solicitor pays seller. Same process as with house sales and Yacht brokers. Problem is how much do you have to pay for the service? Maybe worth getting quotes on it and I would expect the seller to pay at least half the cost for this.

Just an idea, Cheers

Wayne

 

[wayneA]

Sorry bbg, you posted same info as I was typing my reply (i'm very slow) - didn't mean to post the same!

Wayne

 

[vyv_cox]

Cash seems to be the answer. Your bank will supply it but may need some notice. I have both bought and sold boats by paying a major proportion of the amount in cash.

 

[Talbot]

Buy it between two of you then you can each have half!

/forums/images/graemlins/laugh.gif

 

[purplerobbie]

Thank you for all the ideas.
But to be honest i have decided to give it a miss.
The whole thing feels wrong and there are lots of boats for sale.
I think i'm better off walking away form it
Rob

 

[purplerobbie]

[ QUOTE ]
[ QUOTE ]
I offered to do a bank transfer and he refused. He dosent want to give me his bank details?
I told him that i took a bankers draft for mine but they take a week to clear (i never knew that)
In the end he said he wanted a bankers draft fo the full amount and i would have to wait until it cleared until he would sign the boat over.

[/ QUOTE ]

MMM! He doesnt trust you with his bank details, and you dont trust him with your money, and he can only meet at weekends.

You could offer to deliver £25K in cash to him at the weekend?

I guess this is where a broker comes into their own... holding the deeds/bill of sale/registration until your money clears, and they would have no problem giving you their bank details.

[/ QUOTE ]

I did think of taking him cash but that throws up loads of problems.
I would be sh****ng myself walking around with 25k in my pocket.
What would you get in in? £50 notes? would you be happy taking that? I dont even know what a £50 note looks like?

The easy answer would of been bank transfer (chaps payment or whatever) i did offer to do it in the bank with him but he cant do it during the week.

I did say that if you give a cheque it has your bank details.

On the plus side the man with the Saltram has come back to me/forums/images/graemlins/ooo.gif
Rob

 

[badman]

Banks do not like large sums paid into accounts in cash these days.

 

[Koeketiene]

In quite a few countries if you pay in more than a couple of K in cash banks are legally required to report the payment to the authorities (money laundering).

When we bought Guapa in Holland last year the broker would not accept €105K in cash. Payment could have been held up for weeks, "pending investigation".

 

[Sea Devil]

For most of Europe over £10,000 is the amount banks are required to report on, in order to counter money laundering...