Chuck Gould wrote:
On Feb 13, 5:18�am, HK wrote:
Short Wave Sportfishing wrote:
On Tue, 12 Feb 2008 19:26:21 -0800 (PST), Chuck Gould
wrote:
On Feb 12, 7:00?pm, "Eisboch" wrote:
"Wayne.B" wrote in message
...
On Tue, 12 Feb 2008 09:55:07 -0500, "Eisboch" wrote:
Kinda ****ed me off, but there's really nothing
that can be done about it. ?In a boat sale, the buyer holds all the cards
... ?the seller just has to adjust.
That's not completely true. ?If the purchase agreement is properly
worded, and the terms breached, you can walk with the deposit.
A subtle suggestion or two of that possibility could do wonders to
expedite the closing.
But, isn't it interesting that the typical 10 percent deposit just happens
to cover the broker's commission?
Most agreements split the forfeited deposit between the broker and the
seller, up to the amount that would have been due the broker had the
sale gone through.
What? �You're kidding.
Why the heck should the broker get any money for a failed sale?
Chuckie's Law?

I avoided broker's fees when I sold Yo Ho last summer. I made an
arrangement with the dealer to handle all the paperwork for a fixed fee,
which we negotiated. We agreed the fee would double if the dealer found
the buyer. Even at that, it would have been half the price a broker
would have charged. As it turned out, I found the buyer, who came up to
the dealership, examined the boat and the service records, and made the
purchase. The dealer did his job properly, and the next morning, the new
buyer was towing Yo Ho to her new home.- Hide quoted text -

- Show quoted text -

It would have been cheaper to use a marine escrow/title company.
Smarter, too. A broker isn't necessarily an expert in preparing the
legal
paperwork associated with a transaction, any more than the average
real estate agent is qualified to prepare the closing documents for a
home.


My local dealer sells lots of new and used boats, and knows precisely
how to handle the "paperwork." The dealership has a full time title
clerk who knows her stuff. I paid relatively few dollars for the
services I received in connection with the sale. These services
included: unshrinkwrapping the boat, prepping it for the water, washing
it out, keeping it clean for the couple of weeks it was on the dealer's
lot on display, checking and filling the wheel bearings, going over
every detail of the boat with the buyer, planning a safe route for the
buyer to trailer the boat several hundred miles, all things *I* did not
have to do.

Now, considering that time is money, what would the "marine escrow/title
company" done for me? I paid about 2-1/2% of the sales price for these
services, by the way. I thought and think it was money well spent.

I wonder what the going rate for a "broker" is these days?