I tried to buy a boat today, failed.

[KREW2]

I had arranged to view a boat tomorrow. As it was going to be a project I was not too bothered about the condition, as I was prepared to throw £15k at it if need be.
This is how I failed.
This morning I had a phone call from the broker saying that over the weekend he had received an offer close to the asking price.
Ok! says I, but what if I offered the asking price. He replied my increased offer would probably be matched, making my drive to Brighton a possible waste of time.
I pondered for a while then phoned him back offering the full price subject to a hull survey, not worth it he said, the offer in hand was without a survey.
I am now beginning to smell a rat, and getting frustrated, so I became a bit irrational, okay I will pay full asking price, no survey, I can send you a deposit by chaps, now will you put my offer to the owner.
Well! he says I don't want to get into a dutch auction. Needless to say I told him he had got that wrong, what we were in was an auction, surely this was good for the owner. After another excuse, which I do not want to go into detail about, I realised I was getting nowhere. So, if you know the owner of this boat get in touch, and tell him there may be a better offer on the table.
I have removed the link, because if the sale falls through I would still like to go for it.

 

[sailorman]

That is a cheap boat

 

[KREW2]

That is a cheap boat

Not if you can't buy it.

 

[Ex-SolentBoy]

Don't trust the broker. Call the boatyard and I bet you they will put you in touch with the owner direct.

 

[KREW2]

Don't trust the broker. Call the boatyard and I bet you they will put you in touch with the owner direct.

I will do that tomorrow. I just need to find out the name of the boatyard, any body know?

 

[emnick]

Sadler 32

Much under price for a one owner boat. I would get myself down there with a bag full of cash.Even if it has osmosis still under priced. Looks to be in fair condition.
Had one for 7 seasons very predictable good boat.

 

[Heckler]

I had arranged to view this boat tomorrow, http://www.yachtworld.com/core/list...m=broker&&hosturl=bryachting&&ywo=bryachting&
As it was going to be a project I was not too bothered about the condition, as I was prepared to throw £15k at it if need be.
This is how I failed.
This morning I had a phone call from the broker saying that over the weekend he had received an offer close to the asking price.
Ok! says I, but what if I offered the asking price. He replied my increased offer would probably be matched, making my drive to Brighton a possible waste of time.
I pondered for a while then phoned him back offering the full price subject to a hull survey, not worth it he said, the offer in hand was without a survey.
I am now beginning to smell a rat, and getting frustrated, so I became a bit irrational, okay I will pay full asking price, no survey, I can send you a deposit by chaps, now will you put my offer to the owner.
Well! he says I don't want to get into a dutch auction. Needless to say I told him he had got that wrong, what we were in was an auction, surely this was good for the owner. After another excuse, which I do not want to go into detail about, I realised I was getting nowhere. So, if you know the owner of this boat get in touch, and tell him there may be a better offer on the table.

OOps this link appears to be broken, according to google chrome, me smell a rat!
Stu

 

[OGITD]

The link works just fine

The link works just fine with Firefox & Xp

 

[Robin]

The link works just fine with Firefox & Xp

It is working fine for me too - with IE7

 

[Nico]

Sensible explanation

Maybe the boat is a "bit of a project" and the broker has finally landed a sensible buyer - maybe after talking the owner into dropping the price - and doesn't want another faffer muddying the waters and jeopardising his commission.

 

[KREW2]

Maybe the boat is a "bit of a project" and the broker has finally landed a sensible buyer - maybe after talking the owner into dropping the price - and doesn't want another faffer muddying the waters and jeopardising his commission.

Have you never heard of a CHAPS payment, I would have been that rash. Why do you think the owner was asked to drop the price, and from what?

 

[Seven Spades]

AS long as the broker is not selling the boat to a connected party he is probably not doing anything wrong. As a seller I would expect to be kept informed of all offers but this boat looks as though it is part way through a restoration. I wonder if it is a probate sale?

 

[KREW2]

AS long as the broker is not selling the boat to a connected party he is probably not doing anything wrong. As a seller I would expect to be kept informed of all offers but this boat looks as though it is part way through a restoration. I wonder if it is a probate sale?

No not probate, as far as I am aware. I am led to believe the son of the owner is looking after things.

 

[sailorman]

Look wot i have found

http://www.yachtworld.fr/bateaux/1981/Sadler-Sadler-32-2125549/Royaume-Uni

 

[Nico]

Have you never heard of a CHAPS payment, I would have been that rash. Why do you think the owner was asked to drop the price, and from what?

OK, I hadn't really taken in the bit about the payment (which I have, of course, heard of). I am just speculating why a broker might be discouraging a new party. Put yourself in the position of a broker and imagine a scenario where this might apply. A boat has been on the books a while. Loads of people show interest but when the see it (it's not well "presented") they lose interest. Eventually (after a price drop) a buyer is found who has taken into account the condition and is happy because the price reflects this. The broker heaves a sigh of relief and starts counting his commission as home and dry. Then a new buyer heaves into view ...

As I said, only speculating as to why a broker might be trying to put off a buyer with the same, or a bit more, money. A bird in the hand ...

 

[Tranona]

The broker can only sell the boat once. He has an obligation to the seller and if the seller is happy with the sale he has arranged the broker is under no obligation to enter into negotiations with another purchaser - bird in the hand etc!

A friend of mine has just had a similar experience where the broker went silent and then advised him the boat was sold. Nothing you can do about it. The seller has engaged the broker to find him a buyer and he has done just that. You cannot force the owner to consider an offer from you.

I had a similar experience a couple of weeks ago. Advertised my Yanmar 1GM at what I thought was top price. Agreed to a viewing from the first enquirer then 4 more came along, one prepared to drive from Cornwall that day and pay my price sight unseen. Only way to deal with it is to have a waiting list. First enquirer paid my price and has the engine.

Thats life!

 

[KREW2]

The ad does say it has been brought back from abroad, or do you think this is something more sinister?

 

[KREW2]

The broker can only sell the boat once. He has an obligation to the seller and if the seller is happy with the sale he has arranged the broker is under no obligation to enter into negotiations with another purchaser - bird in the hand etc!


Thats life!

Thats interesting, I was under the impression the broker, like an estate agent, has an obligation to put all offers to the vendor.

 

[Tranona]

There is nothing in the ABYA code of conduct that says this.

In law, if the broker has received an offer, and his client has accepted it then a contract exists, so he is unable to consider another offer without breaking his contract. If the offer had no conditions such as subject to survey then both parties are bound by the offer.

How could it be otherwise? If accepted offers can then be rejected for no reason of failure of the purchaser there would be anarchy - never knowing whether you have bought something or not. Remember purchasers have rights in the same way as sellers. If a seller accepts an unconditional offer he is bound by it.

 

[jonic]

I doubt there is anything underhand here. I suspect the broker has a firm offer and he does not want to upset the current known quantity, then have you arrive having not seen the boat and risk losing both of you. He may have also given his word to the prospective buyer that he had a deal, and that is why he would not accept your chaps transfer deal. (Those wishing to buy boats unseen also ring a lot of money laundering alarm bells in the brokerage industry).

And as mentioned above may already have a contract in place.

I understand your frustration, and perhaps a better approach by the broker would have been to explain that a sale was pending and that he would contact you immediately if it did not progress.