Buying boat private sale deposit wont refund

[Bigplumbs]

Re: Buying boat private sale deposit return refusal

Where did you get 'trade vendor' from? OP says it was a private sale.

People make up their own questions and answers and facts on this forum all the time and then give advice based on incorrect information from their own head,. Comes from not reading things carefully or at all

 

[Portofino]

Re: Buying boat private sale deposit return refusal

That is not the issue though. From the time he told him he probably cannot buy the vessel, the seller has since put the boat back on the market without even an email while still holding the deposit. It's not like the buyer was 100% wanting to pull out, he was just telling him he couldn't purchase at that time as his other deal had fallen through. But the seller didn't respond at all when emailed and has ignored calls. He was as disappointed as the seller was that his other deal had fallen through but the guy didn't respond and immediately readvertised.

The boat has been surveyed and everything so fully exists and my relative really wants to go ahead with it but the seller is proving difficult to talk to.

Well yeh , it’s not gonna shift if it’s invisible to the market .

But above you said the seller has telephoned you to ask of your intention.
It’s at that point you ask for a bit more time to get together the balance and the underlying reason.

Just find the balance pick up the boat and move on .
As said direct your efforts into that .

 

[ashtead]

Re: Buying boat private sale deposit return refusal

As previously stated this does turn on parties intentions namely is there a contract made orally and if so is the completion of the sale conditional upon the relative completing another sale . The evidence apart from the recollections of the relative and seller seem to be in emails but assuming a binding oral contract does exist on basis a price for the boat and its identity are known then the seller has a duty to minimise loss but as has been said can deduct losses etc due to having to resell.
What's unclear is as to parties intentions as to when balance of price would be paid following payment of deposit? Was this specified or was it dependent on any factors? This might give some indication as to parties expectations. Presumably the relative has seen the vessel and evidence of sellers ability to sell e.g. Invoice etc but given relatives inexperience you might query the due diligence he has carried out in other areas e.g. Is the vessel subject to any finance debt etc has it been surveyed etc etc . Ultimately given sums involved the relative needs professional advice from someone who has all the evidence and if he is able to pay away £20k he should be able to fund a few hours legal advice from a local firm on contractual position if he wishes to rely on a term that it was conditional on a related sale.

 

[petem]

Re: Buying boat private sale deposit return refusal

Where did you get 'trade vendor' from? OP says it was a private sale.

Post #36 ....

"He wasn’t wasting the guys time and genuinely wanted the boat and still does but got pressured into handing over a large sum of money by a pushy salesman."

Agree, doesn't necessarily mean trade seller.

 

[Jpotts]

Re: Buying boat private sale deposit return refusal

Well yeh , it’s not gonna shift if it’s invisible to the market .

But above you said the seller has telephoned you to ask of your intention.
It’s at that point you ask for a bit more time to get together the balance and the underlying reason.

Just find the balance pick up the boat and move on .
As said direct your efforts into that .

Yeah that is exactly what he wants to happen. I think he is just scared from how the seller reacted after the announcement that he might not be able to fund the boat, that he would take the rest of his money and run. He wants the boat still but is just scared to fully commit now.

 

[petem]

Re: Buying boat private sale deposit return refusal

Well yeh , it’s not gonna shift if it’s invisible to the market .

But above you said the seller has telephoned you to ask of your intention.
It’s at that point you ask for a bit more time to get together the balance and the underlying reason.

Just find the balance pick up the boat and move on .
As said direct your efforts into that .

If the purchaser has been pressurised into handing over a large sum of money without a contract, is he really going to be able to undertake the required due diligence to confirm proof of title, vat status, etc?

 

[Cactus Sailing]

Re: Buying boat private sale deposit return refusal

That is not the issue though. From the time he told him he probably cannot buy the vessel, the seller has since put the boat back on the market without even an email while still holding the deposit. It's not like the buyer was 100% wanting to pull out, he was just telling him he couldn't purchase at that time as his other deal had fallen through. But the seller didn't respond at all when emailed and has ignored calls. He was as disappointed as the seller was that his other deal had fallen through but the guy didn't respond and immediately readvertised.

The boat has been surveyed and everything so fully exists and my relative really wants to go ahead with it but the seller is proving difficult to talk to.

don't know what was said in theses e-mails but its unrealistic for the seller to wait indefinitely, but then its unreasonable to keep the £20k as its way above any reasonable costs.

Seller was wrong to ask for 50% in the first place and your relative should have laughed and walked away, but given the current predicament and the fact he/she still wants the boat, just get a loan and complete?

Sell the old boat and pay off the loan?

that is considering the seller is genuine etc and wont demand more money once the next £20k is sent.

 

[bigwow]

Has your relative actually seen this boat in the flesh or just on the internet?

 

[Jpotts]

Re: Buying boat private sale deposit return refusal

If the purchaser has been pressurised into handing over a large sum of money without a contract, is he really going to be able to undertake the required due diligence to confirm proof of title, vat status, etc?

The silly thing about it is he actually has many connections in the marine industry and for some reason didn't think to contact them until after he had handed over the deposit. Luckily I was informed of this as I work in the merchant navy and as do many of my other relatives, but for some reason he didn't think it necessary to ask those people. He knows the boat is genuine as he has had it surveyed and he has worked with boats his entire life so he knows everything there is about the actual boat side of things. He just knows nothing on what is considered normal for selling and buying online.

 

[Jpotts]

Has your relative actually seen this boat in the flesh or just on the internet?

He just had it seen online and by a surveyor. He has also had a friend check on its legitimacy. Its really far for him to travel to see it in person.

 

[Bigplumbs]

I am starting to feel that this does not ring very true to be honest.

Best advice for the future is never buy anything of any significant value (You decide how much that is but I would say £20K meets that test and more) before you have seen the item and the person or broker selling it in the flesh. If you do complete on this purchase go and see it no matter how far it is

 

[Jpotts]

I am starting to feel that this does not ring very true to be honest.

Best advice for the future is never buy anything of any significant value (You decide how much that is but I would say £20K meets that test and more) before you have seen the item and the person or broker selling it in the flesh. If you do complete on this purchase go and see it no matter how far it is

Oh yeah, I would never have done that personally. Its just an old person not knowing enough about how the modern world is and was easily led into something he shouldn't have. If I would have learned of this earlier I would never have let him do that.

His best and really only option now to not loss the money full stop is to buy the boat and then hope he sells his old one.

 

[PCUK]

40K for a boat he hasn't seen, I think you're right BP.

 

[jimmy_the_builder]

Its really far for him to travel to see it in person.

Where is it?

 

[Jpotts]

Where is it?

South of England I think

 

[jimmy_the_builder]

South of England I think

Well, this is the biggest motorboat forum in the UK, if you can be a bit more specific (like, what marina is it in) you might find that a helpful person would be prepared to amble along the quay to see if the boat actually does exist for you. You never know, it might even be known to someone here. Want to tell us which marina it's in? Given the comments made here about the seller, I'd suggest not putting actual boat details into the public domain.

 

[Jpotts]

Well, this is the biggest motorboat forum in the UK, if you can be a bit more specific (like, what marina is it in) you might find that a helpful person would be prepared to amble along the quay to see if the boat actually does exist for you. You never know, it might even be known to someone here. Want to tell us which marina it's in? Given the comments made here about the seller, I'd suggest not putting actual boat details into the public domain.

I think its in a place called Shaldon in South Devon but I might be wrong.

 

[Danfarry]

Shaldon is a very small village opposite Teignmouth in South Devon. If a forum member on here lives or boats there, they will more than likely know the boat.

 

[jimmy_the_builder]

Shaldon is a very small village opposite Teignmouth in South Devon. If a forum member on here lives or boats there, they will more than likely know the boat.

That's Hurricane's neck of the woods, although he might be in St Carles. Worth a pm?

 

[petem]

I think its in a place called Shaldon in South Devon but I might be wrong.

There's no marina in Shaldon, just swinging moorings.