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Old 06-04-2016, 04:06 PM   #6
twistedtree
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City: Gloucester, MA
Country: USA
Join Date: Jan 2013
Posts: 3,782
You present a signed (by you) contract plus a deposit check when you make an offer. The seller either accepts and signs, or rejects.

The contract says who holds the deposit (typically one of the brokers, but it can be a 3rd party if you don't trust them or there is no broker). The contract also stipulates an amount of time you have to get the boat surveyed and to otherwise satisfy yourself that it's acceptable. Once you "accept" the boat, you are obligated to follow through and buy it. Until you accept the boat, you can walk away for any reason. Your acceptance would be where you would negotiate any issues.

At least that's how the various yacht broker association contracts read, and they are all pretty much the same. Or you can do your own thing.
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