Paying a deposit to broker

Sneds

Sneds

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I have never bought a boat through a broker before.
They have offered us a part ex on our boat and we are going to view the "new" one at the weekend. She is 5 years old.
Assuming we want to proceed and pay a deposit prior to survey and sea trial, my question is this.
Under what circumstances would it be ok to withdraw the offer and get our deposit back? How much "bad news" would the surveyor have to find to make our withdrawl reasonable?
I have heard a story of a buyer who had the devil's own job trying to get his deposit returned, don't know why he backed out though!
I just feel a bit nervous handing over £4k!
Any input really welcome ......Cheers
 
Standard terms tend to be that you can pull out only if there is material defects reported in the survey. you cannot pull out just because you "don't like it" ... although I would've thought that is exactly what the sea trial is for - you may like it visually, but not underway ...
 
well, I'd decide what terms you wanna be able to pull out under.... and if the contract don't share your view, ask em to alter it. I thought UK ones were pull out for any reason actually - unlike say Dutch ones.

Have also heard of brokers making deposit returns tough, yes. and would want to be reasonably confident that they are good for the deposit amount; since likely you will just take their word the money goes in umm client account, or whatever they'll call it.
 
I alter the contract to say that I can reject the boat for any reason, even if I decide I just don't like it. No broker has objected to it and I've only used it once, and that was actually before the sea trial (on reflection, I decided that the engines were just not the ones I wanted) and I got the deposit back immediately.
 
[ QUOTE ]
I alter the contract to say that I can reject the boat for any reason, even if I decide I just don't like it. No broker has objected to it and I've only used it once, and that was actually before the sea trial (on reflection, I decided that the engines were just not the ones I wanted) and I got the deposit back immediately.

[/ QUOTE ]

If you have a clause that says you can cancel the contract for any reason, what is the point of having a contract? You might as well just do it on a hand shake.
 
[ QUOTE ]
If you have a clause that says you can cancel the contract for any reason, what is the point of having a contract? You might as well just do it on a hand shake.

[/ QUOTE ] I wouldn't disagree with that, but a deposit shows serious intent and if there is a deposit, there must be an agreement which shows what is to happen to it.

For example, I have been in the situation where I like the boat, but have never been out in one of that type, so I have to have the option of rejecting it if I simply don't like it out on the water.
 
As others have said if you can add in that you have the right to cancel and full refund of your deposit then that would be perfect, what you will find though is in that case the broker will also add in that from the deposit element they will be entitled to keep out of pocket expenses and launching and recovery of the boat should you fail to proceed with the purchase. From this side of the fence I would agree with that and it would seem fair, nothing worse than preping a boat, launching, fueling up etc, sea trial and then Nah! no thanks I ll have my money back, meanwhile you are down £100's and have to do it all again.

So in all I would say a bit of give and take, you cover the expenses and he agrees a refund of the deposit if you don't like it.

As an aside is it one of the ones being imported by the UK bods set up a couple of years ago or one that found its way here via other means, I had a feeling the importer was fairly new so wouldn't have expected to see a five year old one. Checking the CE docs might be handy in case it came direct from downunder before they were CE marked.
 
I have agreed to pay to lift into the water for trial. Would not think it unreasonable to have to put a bit of diesel in it either.
The boat was a demonstrator for Fletcher Marine.
 
[ QUOTE ]
So in all I would say a bit of give and take, you cover the expenses and he agrees a refund of the deposit if you don't like it.


[/ QUOTE ] Quite right. That is exactly what I do. It still indicates seriousness because, if you back out, there is a cost involved.
 
I would have thought that a £1,000 deposit would be enough to indicate serious intent. Agree that some contribution should be made towards costs if you pull out later.
 
Hi Sneddon,

Is it This One? Looks like a lot of boat for the money. Resale will never be as easy as a more established brand but resale with any boat can be a pain /forums/images/graemlins/frown.gif

Are they Twin KAD32's or AD31s?

If it is Essex I would trust them!

Cheers

Paul /forums/images/graemlins/smile.gif
 
Sounds a little funny the stock code is EB which I believe is brokaridge and not Stock - does this mean that it is not and Essex Boatyards ex Demo? probably ....

Still very nice looking boat - Ill have a clamber all over it this weekend when I go doen the baot /forums/images/graemlins/grin.gif
 
Yep, thats the one.
Don't belive it, just got an e-mail ANd I've gazumped!
Well beaten to it anyhow.
SWMBO is gutted (as am I) /forums/images/graemlins/frown.gif /forums/images/graemlins/frown.gif
 
Someone else has paid a deposit on the boat and are going to view her on Saturday.
Gutted /forums/images/graemlins/frown.gif
 
Hi there Sneddon I know the feeling happend to me aswell but stuck with it and found another one,

whats for you wont go by you, doesnt help much but ive found it to be true. And dont jump right away at another boat stick with looking, another will be on the market somewhere.

All the best on your search

Ewan
 
Cheers Ewan

Can't find nowt else! But won't rush, will keep looking .....PATIENTLY

Iain /forums/images/graemlins/grin.gif
 
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