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wrote:

I am selling a very well equipped sailboat (Formosa 46) as it is at a
very low price of USD 35000 for quick sale due to major repairs needed
to the salon and deck through a reknown international broker in
Thailand, Lee Marine. A potential buyer has deposited the amount
equivalent to the commission of the broker but before I sign the
contract I am doubtful about the fact that the buyer has 4 weeks to
inspect the boat and that "the seller cannot enter into any other
agreement...while this agreement is in effect".

This seems to be very limiting and to work against me. I bear the risk
of loosing opportunities to sell the boat during the next 4 weeks when
this agreement expires. On the other hand, the potential buyer does
take no risk since he can withdraw at anytime and get back his deposit
at 100%. My experience with other brokers was that the buyer will
loose his deposit if he withdraws from the sale. The other way of
working around this would be to shorten the expiration of the agreement
to a week from now.

There is no right or wrong way to structure a sales contract; all that
matters is whether or not both parties agree on the terms. If I was in
your position I would politely propose that we cut the inspection
period down to 1 week (assuming its possible to get the inspection done
that quickly, which it should be) and see what they say. I personally
would not try to negotiate for the buyer losing his deposit if he backs
out of the sale; that might scare the buyer off and what you want to do
is sell the boat, not collect deposits.

Andy

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