Offer

youen

Member
Joined
3 Jan 2005
Messages
684
Location
Brittany
Visit site
When you make an offer on a boat,how long has the vendor to agree it.And if it accepted you must buy the boat ?so you cannot make offers on many boats at the same time.Is that correct?Because sometimes you can be interested by 2or3 boats the price making the difference
 

sailorman

Well-known member
Joined
21 May 2003
Messages
78,860
Location
Here or thertemp ashore
Visit site
you make an offer based on a 10% deposit subject to survey. the deposit is your "Intention to buy" any non disclosed items found in the survey are negotiable.
read the RYA contract available from their site
 

MoodySabre

Well-known member
Joined
24 Oct 2006
Messages
17,028
Location
Bradwell and Leigh-on-Sea
Visit site
There is no legal time limit so it's best to sate that your offer remains open for a set time or agree a time by which accpetance must be made.

Once your offer has been accepted there is a contract (subject to the meeting of any conditions e.g. satisfactory survey). So it is best to make one offer at a time in case you find yourself being sued to buy six boats! You can't make several boat owners think they have a sale then tell them later that you've changed your mind.
 

gjgm

Active member
Joined
14 Mar 2002
Messages
8,110
Location
London
Visit site
you can make an offer subject to anything you feel like, but the seller has to agree to those terms. I'd expect an answer within hours.
Once the verbal agreement is reached (which is binding, even if possibly hard to prove), its usually substantiated by some paperwork and a deposit- by which time both sides are rather more tightly bound to complete the transaction. In fairness thats in the interest of both sides, if you think about it.
Of course things do go wrong, and getting deposits back or not can prove hard. Yes, either side can take the issue to court, but thats an expensive way to go.
If I hadnt get a response promptly, I d assume that was a rejection, and I d amend or withdraw the offer. I wouldnt leave it on the table.
One tip. DO NOT pay any deposit until all the details are agreed, and you have got copies, or seen, any paperwork that interests you. All too often, that document seems to have gone missing, and "I m sure it was here somewhere", sort of nonsense.
 

boatmike

Well-known member
Joined
30 Jun 2002
Messages
7,038
Location
Solent
Visit site
As with any goods you should make an offer initially "subject to contract, subject to survey" or any other reservation you want to make. In theory this does not bind you in law and you could make such offers on several boats. If the offer is accepted however you should proceed to survey which of course is at your expense. If you don't like the survey you are not bound to buy. If you then proceed to contract it is implied that the terms of the contract are negotiable unless a broker has already supplied you with a "form of contract" which you have either signed, or placed a deposit on. Unless you have either exchanged signed contracts or placed a deposit, you are still not bound to buy.
 

gjgm

Active member
Joined
14 Mar 2002
Messages
8,110
Location
London
Visit site
If you don't like the survey you are not bound to buy
****
It may be just be the choice of words used, but I think a reason needs to be more substantive than just liking the survey, or not.
I d suggest the common understanding is that the survey reveals defects that are of size or expense (and that couldnt have been known at the time of the offer) that validates either a change in the offer, or withdrawing the offer.
The problems start when the seller doesnt accept those are substantial enough to warrant a price change.
 

PeterGibbs

New member
Joined
3 Sep 2001
Messages
2,113
Location
N London, and boat in Suffolk
Visit site
It's fair enough to consider more than one potential purchase at a time without limiting your freedom of action. The same goes for the vendor.

But you safeguard your position if you state that up front: it could also help the vendor come to a faster decision, after all he's trying to get the highest offer on the table, which may not be yours. He has to beleive that your offer will go away / lapse within a short while if he plays the game too long.

Technically, a verbal offer, without condition is just that. A sticky vendor could hold you to it, but in no way if he prevaricates - he has to accept it before the "deal" is closed.
A verbal acceptance is as good as a verbal offer.

However you could achieve your objectives by making it a conditional offer - subject to survey of course, and agree a timetable. If the vendor hesitates, you know where you stand, and it is definitely not committed.

In all these matters it pays to make notes on the spot, shows the vendor you mean business, and do not rely on memory; email your offer and terms to remove any doubt. Believe me the small amount of trouble entailed is worth it!

Of course, in this market, you could just express an interest in the offered boat, show willingness to do a "cash now "deal with survey and wait for the price to settle to an acceptable level. I would. There is always, always, another deal...

PWG
 
Top