Deal or no deal?

[32511]

[32511]

...
Joined
18 Oct 2008
Messages
11,735
Visit site
Trying to flog my boat.

About 10 days ago, I met this chap who seemed very interested. After a bit of a haggle, we agreed a price, and shook hands on the deal, which was subject to survey by a local marine surveyor.
The surveyor has heard nowt; now the chap says domestic circumstances have changed and he is no longer interested.
Why can't people be upfront?
Grrrh!
 
Does that scenario not form a verbal contract? I'd be pretty pissed off if that happened to me. Hope the chap doesn't waste anyone elses time.
 
nathanglasgow said:
Does that scenario not form a verbal contract? I'd be pretty pissed off if that happened to me. Hope the chap doesn't waste anyone elses time.
Click to expand...

Even if it did, the most the OP could hope for as a result of the stress and expense of legal action would be his losses. Which are ... well, nothing, really. It's annoying, I am sure, but there is not a great deal to be done about it. Maybe cut the ex-purchaser dead in Piccadilly. That'd show him.
 
Next time take a deposit. Here in the USA we had to pay a deposit (usually10% of the offer price) even to have our offer considered when buying our property and something similar buying the boats through brokers. Definitely no survey or sea trial without a deposit.
 
I am sorry to say this happens all the time.

I broker yachts for clients and a large portion of my time is spent assessing who is really wasting everyone's time and who is genuine.

I have a pretty finely tuned radar, but still waste many hours and drive many hundreds of miles for people who are not in a position to follow through with their verbal assurances.

It is actually extremely stressful and frustrating - not just costly.

Contract and deposit are vital.
 
Last edited:
Robin said:
Next time take a deposit. Here in the USA we had to pay a deposit...

.. Definitely no survey or sea trial without a deposit.
Click to expand...
Mental note - don't buy a boat or house in the USofA... I'll hand over my deposit AFTER making my decision to buy and I'll make my decision AFTER a survey. My offer price will be defined by surveys, sea trails etc.

A handshake and agreeement on price BEFORE survey is pointless because when the survey comes back with an issue the price needs re-negotiated...
 
ShinyShoe said:
Mental note - don't buy a boat or house in the USofA... I'll hand over my deposit AFTER making my decision to buy and I'll make my decision AFTER a survey. My offer price will be defined by surveys, sea trails etc.

A handshake and agreement on price BEFORE survey is pointless because when the survey comes back with an issue the price needs re-negotiated...
Click to expand...

you will not be buying a boat from me unless a deposit is paid & contract signed prior to survey
 
We had an agreed offer. The guy paid the deposit (10%).

Then decided the boat was too far from his home, so wanted 'out'. The broker gave him his deposit back.

I was unhappy.

Had a stupid offer the other day, sight unseen. I declined it.

I am still unhappy.

My signature says it all.
 
sailorman said:
you will not be buying a boat from me unless a deposit is paid & contract signed prior to survey
Click to expand...

Now I'm signing a contract before a survey... CATAGORICALLY NOT.

I'm paying for the survey. Why am I not allowed to survey until I've signed a contract? What happens when the survery says the boat you want £20k for is only worth £15k? What happens if it says it is worth £20k but XYZ needs fixing that I didn't know about before I signed to contract and now want out...

What do you loose by letting me get a survey?

I wouldn't buy a house without a survey. I wouldn't be allowed by a solictor to sign a contract till its been surveyed. The only deposit I've ever paid to buy a house was on a new build and it was £50 to stop them selling it to anyone else. Think there was a few £100 deposit later but solicitor was involved by then...

So should make my boat buying easier... less to look at if people wont allow a survey before contract...
 
ShinyShoe said:
Now I'm signing a contract before a survey... CATAGORICALLY NOT.

I'm paying for the survey. Why am I not allowed to survey until I've signed a contract? What happens when the survery says the boat you want £20k for is only worth £15k? What happens if it says it is worth £20k but XYZ needs fixing that I didn't know about before I signed to contract and now want out...

What do you loose by letting me get a survey?

I wouldn't buy a house without a survey. I wouldn't be allowed by a solictor to sign a contract till its been surveyed. The only deposit I've ever paid to buy a house was on a new build and it was £50 to stop them selling it to anyone else. Think there was a few £100 deposit later but solicitor was involved by then...

So should make my boat buying easier... less to look at if people wont allow a survey before contract...
Click to expand...

read the RY|A contract
i would not have your surveyor hammering my decks & poking his screwdriver into my property with you making no comitment to buy
 
Well, don't come back to start a thread bleating about "I spent £600 on a survey and the seller sold to a fresh punter the next day on the basis my survey was good - do I have any redress against the seller?"
 
But your contract is worthless coz its subject to survey and I'll bet my bottom dollar that every survey finds something that a buyer could say they aren't happy with and want a cheaper price or want out...

Pretty sure my surveyor for a house will also have his screw driver out and his hammer...

Unwillingness to allow a survey prior to contract says two things:

- You have something to hide
- You are trying to overcharge for the boat

The RYA guide says:

"Contract:
We cannot stress how important it is to enter into a written
agreement; however, a written agreement will be of little value if it
does not reflect the desires and requirements of both parties. The
RYA produces a standard Agreement for the Sale and Purchase of a
Secondhand Boat as a starting point for negotiations. In many
cases it may well be appropriate to amend the standard Agreement
in order to accommodate the nuances of your particular transaction.
Be warned - there is little point entering into an Agreement that
does not reflect the needs of the parties."

I would be one of those parties. My need would be a survey before contract. PLENTY of other boats out there for me to choose from so I'll move on and look at others while you carry on paying marina fees etc trying to sell your boat...
 
Wandering Star said:
Well, don't come back to start a thread bleating about "I spent £600 on a survey and the seller sold to a fresh punter the next day on the basis my survey was good - do I have any redress against the seller?"
Click to expand...

Happens in Scotland regularly for houses. You survey before an offer. Offers by a set date. So you often pay for a survey only to not win the bid..

The answer is for the seller to commission the survey and provide it to buyers. Now clearly for a seriously expensive boat you might not trust the seller's surveyor but I can cope with a contract that says subject to buyer survey not uncovering anything the seller's survey doesn't... (in suitable leagalese...)

Must stick to buying boats where the cost of survey defeats the purpose...
 
ShinyShoe said:
Now I'm signing a contract before a survey... CATAGORICALLY NOT.

I'm paying for the survey. Why am I not allowed to survey until I've signed a contract? What happens when the survery says the boat you want £20k for is only worth £15k? What happens if it says it is worth £20k but XYZ needs fixing that I didn't know about before I signed to contract and now want out...
Click to expand...

Lets say the asking price for the boat is £20,000. The seller lets you have your survey, which costs you £250 for the lift out and pressure wash off, plus £400 for the survey. After the survey you decide to offer £18,000. Well done you - till the seller accepts an immediate offer of £19,000 from the nice chap he met when he had the boat lifted out, and who had a chance to look at the bottom himself.

The written agreement with a price "subject to survey", then a deposit, then survey, then if survey is bad a renegotiation or pull out with deposit refunded system is there for a reason. It protects both buyer and seller.
 
ShinyShoe said:
Mental note - don't buy a boat or house in the USofA... I'll hand over my deposit AFTER making my decision to buy and I'll make my decision AFTER a survey. My offer price will be defined by surveys, sea trails etc.

A handshake and agreeement on price BEFORE survey is pointless because when the survey comes back with an issue the price needs re-negotiated...
Click to expand...

I'm with you here and have the same fruitless argument with forumites.

They regard the RYA contract as compulsory and can't get their head around the fact that putting obstacles in the way of a deal will......erm.....put obstacles in the way of a deal.

How often do we hear forumites complaining that they can't sell their boat? As the yanks would say "Go figure"
 
ShinyShoe said:
I wouldn't buy a house without a survey. I wouldn't be allowed by a solictor to sign a contract till its been surveyed. The only deposit I've ever paid to buy a house was on a new build and it was £50 to stop them selling it to anyone else. Think there was a few £100 deposit later but solicitor was involved by then...
Click to expand...


With apologies for the pedantry, this isn't correct.
 
You must log in or register to reply here.

Share this page

Top