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Old 06-27-2016, 07:27 PM   #1
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offer - but no answer

I put down a deposit and signed and offer on a boat, but the seller does not have any answer for me, yet. The broker keeps saying that he is waiting for the answer.
Is there a standard, how soon an offer should be accepted, or rejected?
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Old 06-27-2016, 07:38 PM   #2
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Yes.

It should be stipulated as a term in your offer. Never make an offer unless all important terms and conditions are identified - in writing.
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Old 06-27-2016, 07:39 PM   #3
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I don`t think there is any standard time. What is the offer document you signed? Depending what you signed, you could withdraw your offer, or put a time limit on it.
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Old 06-27-2016, 07:46 PM   #4
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I agree with the others. Generally, I will make an offer that is good for a limited period of time, say three days. I am also a bit confused by you making the offer with a deposit. I generally will make the deposit when the offer is accepted.

How long has it been? If it has been more than a few days with no good explanation (maybe the seller is in the hospital etc...) then I would call the broker and withdraw the offer and have him/her return the deposit.
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Old 06-27-2016, 08:01 PM   #5
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Quote:
Originally Posted by utazo89 View Post
I put down a deposit and signed and offer on a boat, but the seller does not have any answer for me, yet. The broker keeps saying that he is waiting for the answer.
Is there a standard, how soon an offer should be accepted, or rejected?
Brokers in WA State use a form that states specific timelines for acceptance, rejection, or countering of an offer. Who is the broker?
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Old 06-27-2016, 08:38 PM   #6
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Originally Posted by dhays;
How long has it been?
That's the key. If the offer was written Friday, I'd forego the weekend and think in terms of tomorrow or Wednesday at the latest.

Regardless of the reasoning, the broker should know what he is dealing with and tell you. Otherwise he is not earning his keep.

The longer it goes the more I would suspect there are other offers in the works or there is cahoots at play.

If the offer is 3 or more business days old, put the broker on notice of a withdrawal at noon tomorrow.
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Old 06-27-2016, 08:49 PM   #7
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Thanks to All.
It seems that I have made a very stupid mistake, as a first buyer. The offer form does have a section for deadline on the offer, but it was left empty. I don't know, if the offer was already presented to the seller by the broker, or not? I am getting excuses for the last 8 days from the broker. Different reasons, why the seller did not say anything, yet, solidly. What options do I have now? Shall I go back to the broker's office and demand a deadline date to be put on the form? Or, shall I insist on cancelling the whole thing?
Originally, I was told that I will get an answer within a day or two. It did not happen. I don't want to list the excuses publicly by the broker and I don't feel comfortable to give his name out here. He is in the Seattle area. I can send it in PM, if anyone wants to know.
Thanks again.
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Old 06-27-2016, 08:51 PM   #8
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It has been 8 days. What form do I use to give him this notice? Thanks.
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Old 06-27-2016, 08:59 PM   #9
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Originally Posted by utazo89;
It seems that I have made a very stupid mistake, as a first buyer....I don't want to list the excuses publicly by the broker and I don't feel comfortable to give his name out here.
An honest mistake and one the broker should have discussed with you, before you signed it.

You are taking the high road, by not going public, so now just be forceful, but decent.

Set up a short notice appointment with the broker and go with a written withdrawal in hand. If there is no answer or co-operation, give him the notice.

How badly do you want this boat?
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Old 06-27-2016, 09:02 PM   #10
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If it has been 8 days I would call the broker tomorrow morning and tell them that unless you hear back from him by the end of business on Wed that you will be withdrawing the offer and will expect an immediate return of the deposit.

The broker may be trying to get hold of the seller and may not know exactly what is going on, but in any event, they should be able to tell you exactly why you have not received a response. If you feel that the broker is prevaricating, then you don't want to deal with that broker anyway.

If you don't get a satisfactory response on your call tomorrow, then talk to the owner/manager of the brokerage.
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Old 06-27-2016, 09:02 PM   #11
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It has been 8 days. What form do I use to give him this notice? Thanks.
I would just cite the offer number, date and vessel involved. Demand immediate return of the deposit.

Has the deposit gone through your account?
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Old 06-27-2016, 09:07 PM   #12
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Yes, it was withdrawn from my checking already. Is this your question?
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Old 06-27-2016, 09:10 PM   #13
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At this point, I don't even want this boat very much. The whole ordeal gave me a bad taste about this process. I just want to be secure with my money. I would hate to loose a penny of it.
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Old 06-27-2016, 09:16 PM   #14
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I think, he is the broker/manager himself.
The deposit was on last Sunday. He told me, he would get an answer by Monday afternoon, because the seller is really in the mood to sell.
4 days went by and I did not hear from him. Thursday, I received an email saying he had family issues and he could not come to the office. Promised me to have an answer by Friday. We had 2-3 phone calls on Friday, but he could not get an answer from the seller again. Although, he stated that my price was too low. I never received any counter offer, just the opinion that my offer is too low.
Friday late afternoon, he told me that the seller will be in his office on Monday and he will certainly get something solid. I sent emails today again. He promised to call me immediately, but nothing so far. It is 6 p.m. now. Honestly, I don't like this. So, I needed advice.
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Old 06-27-2016, 09:41 PM   #15
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I think, he is the broker/manager himself.
The deposit was on last Sunday. He told me, he would get an answer by Monday afternoon, because the seller is really in the mood to sell.
4 days went by and I did not hear from him. Thursday, I received an email saying he had family issues and he could not come to the office. Promised me to have an answer by Friday. We had 2-3 phone calls on Friday, but he could not get an answer from the seller again. Although, he stated that my price was too low. I never received any counter offer, just the opinion that my offer is too low.
Friday late afternoon, he told me that the seller will be in his office on Monday and he will certainly get something solid. I sent emails today again. He promised to call me immediately, but nothing so far. It is 6 p.m. now. Honestly, I don't like this. So, I needed advice.
I am really sorry that this has happened. Not all buying experiences are like this, so don't get discouraged.

It sounds like you are pretty well over this broker and by extension this boat. If you can easily go by his office tomorrow, drop off a letter as Hawgwash described. All it needs to say is that you are withdrawing the offer due to the inability to get a response as promised. In the letter be clear how you want the deposit returned to you, and by when. ie a check available to be picked up at the office or mailed to you. I would prefer to pick it up if you have the time. If you are working this gets harder and you might need to mail the letter to the broker but tell him to expect it.
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Old 06-27-2016, 09:50 PM   #16
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Thank you for the encouragement and great advice. I did not give up hope to find a boat, but I must be careful next time. I will follow the advice and write up the notice. I don't have a problem to go to his office and deliver it in person. I just don't want any confrontation, or more ' sweet ' talk around the bushes.
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Old 06-27-2016, 09:51 PM   #17
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I am really sorry that this has happened. Not all buying experiences are like this, so don't get discouraged.

It sounds like you are pretty well over this broker and by extension this boat. If you can easily go by his office tomorrow, drop off a letter as Hawgwash described. All it needs to say is that you are withdrawing the offer due to the inability to get a response as promised. In the letter be clear how you want the deposit returned to you, and by when. ie a check available to be picked up at the office or mailed to you. I would prefer to pick it up if you have the time. If you are working this gets harder and you might need to mail the letter to the broker but tell him to expect it.
Yeah. And bring a baseball bat with you. Something is fishy. Get your money back asap. If you dont walk out of there with your money, my next stop would be a lawyer (assuming it is a large amount of money).
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Old 06-27-2016, 09:56 PM   #18
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E-gads, I hope the offer is subject to something.
Barring that, I would hope a counter is made that can be rejected and the offer withdrawn.

Quote:
Originally Posted by dhays;
If you are working this gets harder and you might need to mail the letter to the broker but tell him to expect it.
If unable to attend at the office quickly, I would go one further; do up a withdrawal, sign it, convert it to a pdf and send it as an attachment to an email.

Still get in there at the earliest possible time, with a hard copy.
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Old 06-27-2016, 10:02 PM   #19
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I will follow the advice and write up the notice. I don't have a problem to go to his office and deliver it in person. I just don't want any confrontation, or more ' sweet ' talk around the bushes.
You have been very patient, now it's time to be assertive. Stand up for you.

If there are no surprises we don't know about, I would deliver the notice and sit there until he wrote a cheque for the deposit return.

Any grief, ask for his broker number.
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Old 06-27-2016, 10:11 PM   #20
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By the way, if you are still in the hunt when this thing sorts itself out, and it will, you might want to consider getting a buyers broker. There are plenty of good guys in your area.
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