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Thread: buyers beware

  1. #31
    Join Date
    Jul 2008
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    520

    Default Re: buyers beware

    [ QUOTE ]
    Just don't complain when there is no contract on the table and the owner accepts a higher offer than yours after you've spent all that money on a survey, lift out etc

    [/ QUOTE ]
    Shouldn't the deposit be the owners then? An undertaking that the owner won't sell and the deposit penalty if they do?

    As it stands, if the owner renéges on the contract the buyer must sue to get compensated, if the buyer drops out because of a bad survey then the buyer has to jump through hoops to recover his money.

    It doesn't seem balanced.

    ...and how bad must a survey be to be sure of a refund?

  2. #32
    Join Date
    May 2003
    Posts
    57,546

    Default Re: buyers beware

    [and how bad must a survey be to be sure of a refund? ]
    the RYA contract has an "Arbitration Clause" within it
    I may be wrong but not always

  3. #33
    Join Date
    Jul 2007
    Posts
    7,918

    Default Re: buyers beware

    [ QUOTE ]
    Damage is between the surveyor and the owner, and the haul out is between you and the yard. Nothing to do with the broker - unless you want it to be.



    [/ QUOTE ]

    Not correct. The broker is acting as agent for the seller, so its the seller who in effect has asked for a deposit. The yard and the surveyor are acting on your instructions so you are liable to the seller for any damage they do.

    I was a bit surprised to be asked for a deposit on my recent purchase - all my previous ones were private and the seller paid the lift out etc. Nevertheless it was less than 10k so hardly the end of the world, and it was in the agents customer account. He was insured and a member of the various organisations.

    I suppose its like buying a house where you also pay a deposit.

  4. #34
    OAF is offline Registered User
    Location : Shropshire/Southampton
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    Apr 2009
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    603

    Default Re: buyers beware

    [ QUOTE ]
    and also this deposit should not be used as a slush fund for anyone to dip into as and when they see fit.

    [/ QUOTE ]

    If you have that opinion of what a broker might do then maybe you should look at private sales only!

    Most brokers are reputable profesionals and there conduct governed by marine trade organisations such as BMIF etc They are not in the business to of dipping into client account funds which i think you may find is also illegal.

    Brokers are there to sell boats and treat ALL there customers whether the buyer or the seller the same.

  5. #35
    Adrianwool is offline Registered User
    Location : Algarve Portugal
    Join Date
    Dec 2008
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    212

    Default Re: buyers beware

    Have you ever bought a boat through a broker before?. Being bolshie is only likely to get you to a position where you cut your nose off to spite your face. Sale of goods act applies to refrigerators, tellies, and new washing machines!. A friendly non-confrontational approach would be likely to give you more negotiating power , paying over your deposit (having ensured it is in the client a/c), reviewing the survey and adjustung the price accordingly and talking with the current owner politely but firmly will give you a better price result in most cases. Display agressiveness and most sellers will dig their heels in and you are less likely to get the result you want.

  6. #36
    Join Date
    Feb 2003
    Posts
    8,591

    Default Re: buyers beware

    Hmm, and what about the big brokers that went bust this year? I bet the peeps who had sold their boats and didnt get paid have a different view!
    Stu

  7. #37
    OAF is offline Registered User
    Location : Shropshire/Southampton
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    603

    Default Re: buyers beware

    [ QUOTE ]
    Hmm, and what about the big brokers that went bust this year? I bet the peeps who had sold their boats and didnt get paid have a different view!
    Stu

    [/ QUOTE ]

    If money is paid to a secure escrow client account then even when a company goes into liquidtion that money should be safe! afterall it isnt the companies money!

    Do you have first hand knowledge of peeps not being payed out from a sale of a boat when a company has gone bump?

  8. #38
    Join Date
    May 2003
    Posts
    57,546

    Default Re: buyers beware

    [Do you have first hand knowledge of peeps not being payed out from a sale of a boat when a company has gone bump?]

    i would have a guess @ Opal Peters [img]/forums/images/graemlins/wink.gif[/img]
    I may be wrong but not always

  9. #39
    Join Date
    Nov 2003
    Posts
    25,140

    Default Re: buyers beware

    S'funny that was my thought too.
    They whipped the dosh from the client a/c. Naughty.
    Anger is a wind which blows out the lamp of the mind.
    Robert Green Ingersoll

  10. #40
    PeterGibbs is offline Registered User
    Location : N London, and boat in Suffolk
    Join Date
    Sep 2001
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    2,114

    Default Re: buyers beware

    Q - Most brokers are reputable profesionals and there conduct governed by marine trade organisations such as BMIF etc They are not in the business to of dipping into client account funds which i think you may find is also illegal.
    ______________________________________
    'fraid you're wrong there. Dipping (it's called "applying") into funds is exactly what happened in the case of Peters. Are the directors in jail for that? There you go...

    Money handed over is money handed over - put no trust in any statements of "protected accounts" It doesn't mean a thing!

    PWG

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