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Old 09-06-2019, 12:28 AM   #1
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Broker tactic?

Back on Aug. 19th I found a boat on yachtworld that ticked a lot of boxes for me. I contacted the broker and asked to take a look at it. He replied back on the 20th that they had recently received an offer, but would let me know if it didn't work out. Then on 9/5 I get a email saying that the sale didn't pan out and survey is available at 1/2 price. Am I still interested? I replied a few hours later and said yes I'm still interested, can we schedule a walk-through? 6 hours later I get a email saying sorry, we already got another offer. Maybe I'm overly suspicious in my old age, but it kinda seems odd. Anybody else ever experience this? Is it a tactic to get a offer sight unseen?


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-Steve
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Old 09-06-2019, 12:36 AM   #2
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Wonder how many copies he sold at 1/2 price. I tend to tilt to the cynic side. I would expect a professional to call me. It's all about trust and relationships.
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Old 09-06-2019, 12:41 AM   #3
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Back on Aug. 19th I found a boat on yachtworld that ticked a lot of boxes for me. I contacted the broker and asked to take a look at it. He replied back on the 20th that they had recently received an offer, but would let me know if it didn't work out. Then on 9/5 I get a email saying that the sale didn't pan out and survey is available at 1/2 price. Am I still interested? I replied a few hours later and said yes I'm still interested, can we schedule a walk-through? 6 hours later I get a email saying sorry, we already got another offer. Maybe I'm overly suspicious in my old age, but it kinda seems odd. Anybody else ever experience this? Is it a tactic to get a offer sight unseen?


thanks!


-Steve

Hi Steve,

Iíve made an offer on a boat that Iíd never seen. I made the offer, had it accepted subject to inspection, sea trial and survey. I donít think it is all that unusual.
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Old 09-06-2019, 12:52 AM   #4
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Depends on market, desirability of the boat, and asking price. Just because you say you're coming to see it, doesn't mean they stop trying to sell it to someone else.

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Old 09-06-2019, 01:06 AM   #5
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Seems an unusual series of fast moving events. But maybe the new offer came from the old buyer,that would make sense.
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Old 09-06-2019, 06:05 AM   #6
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Keep in contact with the broker, my friend looked at a nice sport fisherman, the boat was bought by someone else, 6 months later that man died and his widow sold it to my buddy via. broker and he got it for about 30% less then the original purchase price.
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Old 09-06-2019, 07:13 AM   #7
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Iíve made an offer on a boat that Iíd never seen. I made the offer, had it accepted subject to inspection, sea trial and survey. I donít think it is all that unusual.
Think it was about Feb 1989 I got a call from my RE agent in Oriental NC that my perfect retirement waterfront lot had become available. I was teaching in California at the time, so she sent me photos & I made a purchase deal contingent on inspection during my Easter break. My skipper & I flew back to NC in April, liked the property, signed the deal & closed quickly. It was a long time ago, but I'm pretty sure there was a clause that if another buyer had come along in the meantime, I'd have had so many days to get my derriere back East to close quicker or lose the deal. That would have fairly protected the seller. BTW, never did build on that lot because by the time we were ready to consider building, the value had increased so much we were able to sell for so much that it was almost enough to buy another waterfront lot with a house already on it. I still own that house all these years later, but don't live there anymore.
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Old 09-06-2019, 08:06 AM   #8
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I don't think this is all that suspicious. Obviously the broker kept the contact info of everyone who expressed interest and when the first deal fell through, contacted everyone on his list to let them know the boat was available again.

Someone was obviously biting at the bit because they though they missed it the first time so they struck. Maybe they looked at it before or maybe it was sight unseen - but it doesn't seem like a valid "tactic".

Although, I would ask for a refund of what I paid for the survey since they pulled the rug from under you.
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Old 09-06-2019, 08:13 AM   #9
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The issue that jumps out to me is that the BROKER is offering to sell a survey at half price that was most likely paid for by the perspective BUYER who decided not to purchase the boat . . . Since when does a BROKER own the rights to make $$ off a survey paid for by the perspective BUYER?
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Old 09-06-2019, 08:19 AM   #10
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The issue that jumps out to me is that the BROKER is offering to sell a survey at half price that was most likely paid for by the perspective BUYER who decided not to purchase the boat . . . Since when does a BROKER own the rights to make $$ off a survey paid for by the perspective BUYER?

Perhaps the broker is acting as broker on the survey? I had a deal go sour after the survey and the broker offered to broker the survey for me at 1/2 price. I declined his offer and asked for the contact info for persons interested in the survey.
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Old 09-06-2019, 08:24 AM   #11
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I've sold and listed a lot of "stuff" on C.L, E-Bay, etc. I NEVER change my plans or stay around waiting because someone has said they were coming to look at it. I usually list something for when I know I will be around but never hold my breath. This broker could have been "stiffed" a number of times and was just being cautious.

If, as a buyer, I am interested in something I make firm plans to look at it and have cash in hand. It might not be available when and if I have to go get cash.

Money talks, B.S. walks!!

As for the survey.. I would buy my own. The survey for sale at half price may very well have been a "sellers survey" or an "insurance survey" , both very different from a buyers survey.

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Old 09-06-2019, 08:59 AM   #12
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The way to secure the boat for yourself is with a contract. They are always subject to inspection, survey, etc., so you have no obligation at the onset. For all intents and purposes, the contract initially is nothing other than a reserved right to purchase the boat, i.e. it blocks someone else from stepping in in front of you. If you want to see and evaluate the boat before making an offer, then you risk someone else stepping in and getting a contract ahead of you.


All in all I think it's pretty fair. A seller isn't going to stop accepting offers just because you said you are interested or that you are coming to see the boat. In my experience selling boats, there are a lot more lookers and talker than there are buyers. I'll take you seriously when you present an offer and contract. Before that you are just another looker and talker.
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Old 09-06-2019, 01:25 PM   #13
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As for the survey.. I would buy my own. The survey for sale at half price may very well have been a "sellers survey" or an "insurance survey" , both very different from a buyers survey.

Easy to find out who the surveyor was and who paid for the survey. If it was a qualified surveyor and paid for by the prior prospective buyer, then I would be happy to buy it at 1/2 price.
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Old 09-06-2019, 02:17 PM   #14
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Just had a similar situation happen with a house. We contacted the broker, saw the house and then went to breakfast to chat. We called back within an hr and the broker informed us the house was under contract. Wife was quite frustrated. Have asked to be notified if sale falls through. Stinks but it is part of the process.
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Old 09-06-2019, 02:18 PM   #15
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Bottom line there will always be another house/boat just gotta keep looking.
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Old 09-06-2019, 03:09 PM   #16
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People back out of purchase offers all the time. The broker could have easily fired out a generic notice to anyone who previously expressed interest. Someone could have signed and submitted a P&S in the time it took you to respond.

I'd pass on any survey offered by the broker or seller. The survey is typically purchased by the buyer.
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Old 09-07-2019, 08:14 AM   #17
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I would tell the broker you will purchase the survey , IF you purchase the boat , and do not need a second fresher survey
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Old 09-07-2019, 09:46 AM   #18
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I would tell the broker you will purchase the survey , IF you purchase the boat , and do not need a second fresher survey

Doesn't always work that way. Recently while looking at a MT40 that had a 32 day old survey, I approached Markel American Insurance to get a quote on insurance pending potential purchase. Representative stated that the previous survey was not acceptable because it was not in my name . . . Not sure what the name on the header page has to do with anything as long as the boat is the same boat.
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Old 09-07-2019, 01:14 PM   #19
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Whenever things seemed to be pushed quickly, it’s a sign for me to back off..There can be exceptions, but in general pressure = bullshit..
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Old 09-07-2019, 01:48 PM   #20
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Whenever things seemed to be pushed quickly, itís a sign for me to back off..There can be exceptions, but in general pressure = bullshit..

Yep, "Hurry! This boat won't last long at this price!" . . . . a short search reveals that boat has been for sale for 9 months at that price . . . . Of course, they may be speaking in geological terms, as in thousands of years . . . .
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