then so be it....plenty of fish in the sea etc. for as seems to be agreed it is a buyer's market and the loss of a particular boat is not going top keep me awake at night, but I am unlikely to be so naive as to not to have researched the length of time the boat has been for sale etc
Ok, I am going to be gentle here Greg and absolutely no offence is meant.
But if you have made an offer 33% under a fair asking price he has seen you absolutely as you have portrayed yourself....as someone who clearly can't afford it.
His client is paying him to keep time wasters away and that is also exactly how you have presented yourself to him. All be it unknowingly.
Sorry but it's true, and I say again there is no offence meant here at all.
The problem is that over the last 10 years, the fake house price boom has created a get rich quick mentality as houses go up, followed by a get rich quick on the downside mentality by bidding low as they come down.
In very simplistic terms.
Fuelled entirely by the deliberate extension and availability of credit everybody's house went "up" in value. Some people thought they were geniuses because they had made so much money. Then found they were nothing more than lambs to the slaughter as they "released" their new found equity by taking out an even bigger loan with the gleeful banker who had created the illusion in the first place. (Some of them bought brand new boats and more of them later.)
So now the inevitable is happening and the music has stopped, that house price inflation is deflating. Along come the next level of geniuses who offer well under the inflated asking price and get such a bargain. Perhaps as much as 30% off. Not realising that all that is happening is the excess is coming back off as credit contracts.
The gleeful banker gives our new round of buyers more credit to buy the houses he is now repossessing from the first lot. If our banker gets his sums wrong and runs out of his fictitious credit it doesn't matter. He can lawfully get the tax payer to bail him out. (That's the same guy he's saddling the loans with.) The amount of fictitious credit allowed in the system is set by the central bank. In basic terms this is the amount of pass the parcel money they can get away with before Mr and Mrs Saver smell a rat and en-mass (like Northern Rock) they all demand their money back at the same time only to discover there isn't enough to go round.No problem as the tax payer can again bail them out and the central bank can do some quantitative easing. I.E create some more fictitious money.
But also, houses are generally bought and sold out of need.
They are bought when you need another bedroom for the new baby or when you need a smaller house when the kids go to Uni.
They are sold when the owner needs to pay back the 100's of 1000's that he owes the bank and can no longer service the loan
Apart from the new boats bought with the fictitious release of equity none of these factors apply in the same way to a brokerage boat.
It probably wasn't bought out of need, more like desire.
It was probably paid for without a loan, so there is no banker chasing.
It definitely didn't go up in value so there is no excess to bid low against.
In fact it has slowly fallen in value.
Unless our owner is in serious trouble elsewhere he has no need to sell at 30% under. If you can't service your house mortgage you are in trouble but our cash strapped boaters main cost is his berthing.
Lets say it cost £6,000 a year and cash is getting a bit tight. Does he take a 30% (say £20,000 or £30,000) hit on his boat....or move to a swinging mooring for a £1000 for the next year.
Unless he owes money on the boat he's going on the mooring.
The thing to remember is that unlike houses most brokerage boats did not go up and are not subject to a loan. So that 30% off mentality you find in a house price crash simply does not exist.
The market tends to just go stagnant then drop a bit as buyer numbers diminish for a while.
You will find bargains due to personal circumstances, but not in the numbers you may imagine.
Greg I am honestly not bashing you here, just trying to show the differences.
If you want a bargain get serious with the broker because he is as keen as you are to do a deal, but it wont happen with ridiculous bids unless the seller has very pressing personal circumstances.
Another broker I know likens the housing market to steep peaks and deep valleys whereas the brokerage boat market is more like gentle undulating meadows.
You would probably be better off looking at private sales on places like ebay, rather than wasting your time dealing with brokers who can't be arsed to put a deal together. Unless a seller is desperate to sell, they really aren't going to drop their asking price by a huge amount, so find a "motivated seller" advert somewhere and give them some motivation to sell.
You would probably be better off looking at private sales on places like ebay, rather than wasting your time dealing with brokers who can't be arsed to put a deal together. Unless a seller is desperate to sell, they really aren't going to drop their asking price by a huge amount, so find a "motivated seller" advert somewhere and give them some motivation to sell.