timjet
Guru
- Joined
- Apr 9, 2009
- Messages
- 1,920
Some of you may have been following my thread trying to sell my boat under the Classified section. It's been an interesting 4 months and I've met some really nice people and some folks that have no problem wasting my time with no intention of buying any boat.
Anyway pending the results of oil sample tests I may have sold Flyin Low. But I need advice about money transfer. The buyer lives about 1000 miles away and the oil sample tests should be back by Monday. We signed an Offer to Purchase with a closing date on or before 1/14/2017 unless a later date is agreed upon. That's tomorrow and the oil sample test results won't be back before then. If the oil samples come back OK then he has agreed to buy the boat but doesn't want to transfer the money until he returns to the boat in late January. I really don't want to wait that long but I think he really wants to be present when he wires me the money and can see the boat hasn't changed since he saw it last, earlier this week.
There is also the issue of paper work. I the seller am the only one who has to have the bill of sale notarized, there is no need for the buyers signature to be notarized on any paper work including the transfer of Certificate of Documentation.
So what to do? If he refuses to close before he can get here in late January what can I do? I don't want to loose this sale, nor does he as he's already spent $1200 on surveyor and haul out fees. I'm thinking of demanding an additional $5000 deposit to hold the boat the additional time. Any ideas?
If he does agree to close before he gets here I don't want to send him the notarized bill of sale before getting the wire transfer. So how is this done? Escrow agent? Any suggestions are well appreciated.
I trust him and I believe he trusts me, but still.
Anyway pending the results of oil sample tests I may have sold Flyin Low. But I need advice about money transfer. The buyer lives about 1000 miles away and the oil sample tests should be back by Monday. We signed an Offer to Purchase with a closing date on or before 1/14/2017 unless a later date is agreed upon. That's tomorrow and the oil sample test results won't be back before then. If the oil samples come back OK then he has agreed to buy the boat but doesn't want to transfer the money until he returns to the boat in late January. I really don't want to wait that long but I think he really wants to be present when he wires me the money and can see the boat hasn't changed since he saw it last, earlier this week.
There is also the issue of paper work. I the seller am the only one who has to have the bill of sale notarized, there is no need for the buyers signature to be notarized on any paper work including the transfer of Certificate of Documentation.
So what to do? If he refuses to close before he can get here in late January what can I do? I don't want to loose this sale, nor does he as he's already spent $1200 on surveyor and haul out fees. I'm thinking of demanding an additional $5000 deposit to hold the boat the additional time. Any ideas?
If he does agree to close before he gets here I don't want to send him the notarized bill of sale before getting the wire transfer. So how is this done? Escrow agent? Any suggestions are well appreciated.
I trust him and I believe he trusts me, but still.