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Old 02-04-2019, 11:24 PM   #50
BruceK
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City: Sydney
Vessel Name: Sojourn
Vessel Model: Integrity 386
Join Date: Oct 2011
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Quote:
Originally Posted by Airstream345 View Post
In our first home sale we chose a lower offer in a multiple offer situation primarily because we felt the buyer was the most committed with the most to gain by completing the transaction. The higher offer had listed so many specific contingencies (beyond financing and inspection) we felt it was less likely to land on the offer. We felt the buyer who made the higher offer did it only to remove competitors, but would levering the inspection and contingencies to lower the offer through the process. To this day I still think we were right....

For boat purchases the risk is almost entirely on the buyer. Given the seller has no obligation to disclose deficiencies if the buyer or surveyor miss something it can be incredibly expensive to remediate...
Agreed except, as I see it, the agreement is little more than an option or voidable agreement in the buyers favour. A buyer dissatisfied with the due diligence process can withdraw. Meanwhile the seller is out of the market, maybe even committed elsewhere in expectation, who knows.
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BruceK
2005 Integrity 386 "Sojourn"
Sydney Australia
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