A survey is not a price negotiation tool. Always, Always, Always do a
survey.
Dale Klahn
"Kimberly Templeton" eagletrawler@gmail.com 03/12/06 20:24 PM >>>
Put your offer in at what your willing to pay ,if he counters then ask
for a
survey and adjust your offer based on what is learned.
On 3/12/06, dd@gregsteckel.com dd@gregsteckel.com wrote:
I have only bought two boats; one was a trade in to a dealer and the
last
one was via broker. All owners and brokers expect that the asking
price
on
a boat will be worked down by the buyer. Therefore, it is always
high. I
would do a comparable search on Yachtworld.com for similar boats with
similar equipment to get a feel of the market for this type of boat to
determine what I would be willing to pay for it. Keep in mind that
the
selling price most likely will have to meet financial and insurance
requirements as well. Do a personal inspection on the boat and start
to
mentally lower your offer based on what you deem needs to be repaired
to
meet insurance or other operational and safety requirements; and then
make
an offer accordingly with the caveat of an acceptable survey. After
the
survey, you can change your offer if other repairs become evident.
Greg Steckel
M/V Different Drummer
President 35 Sundeck
www.chesapeaketrawlering.com
www.chesapeakesailor.com
www.fmyc.org
-----Original Message-----
From: Joe W [mailto:cruiser6003@yahoo.com]
Sent: Sunday, March 12, 2006 6:59 PM
To: Trawlers-n-Trawlering
Subject: T&T: Boat Price Negoitiations
Evening all,
Well, I am getting close to actually putting an offer on a boat. This
is
my first foray into offer/accept dealings and I'm a bit tentative as
to
how
to proceed. During my inspection of the boat the broker (not listing
broker
but same firm) hinted that the vessel could probably be bought for X.
X is
quite a bit lower (only 72%) than what the seller is asking but almost
hit
the head of what I am willing to pay. Now, knowing what broker thinks
boat
is worth, do I offer a bit lower, a lot lower or give the price but
indicate
firm. Also, I know there are significant items which need
repair...genset
for example. How does knowing these items need repair and will turn up
in
survey affect how I offer? Perhaps the broker was already discounting
this
in his estimation.
Bottom line is I want to give a fair price but leave as little money
on
the table as possible. What effect does lowballing have on
negoitiations?
Is
it off putting? I mean will it severely dampen his enthusiasm to sell
to
me.
Some might say...well all he can do is say no....no is not what i
want, i
want a counter to my price...
Help...
Joel
St Pete, FL
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Thank you all so much for your suggestions both on and off list. Everything from "Nothing ventured, nothing gained" to "I'd rather sink it than sell at that price" sentiments. Best comment I've gleaned so far though is....it's a buyers market and you'd be a fool to pay market price...
I have been researching as best as I can , but unless you're a broker with actual sell price and know what the contingencies were you never know how valid the "average" asking prices are. So here is what I'm leaning towards.
Offer my best price, contingent on sea trial and survey (Knowing full well that there are several survey items to deal with). If he wants to fix it all ...great, i got a good dea, if not, I got a lower price but have $ to use towards correction. I know one thing, if I get it for that price it will be a fair price to me.... Perhaps I could get it for less if he is really desperate, but then again....
What is considered a predisclosed item? If I discovered it during my preinspection (which was yesterday) is it still the same as if a surveyor found it. Perhaps it doesn't matter, surveyor will find it as well. What is the going price for survey these days? 10-15/foot? Does that include sea trial? I would love to have owner along for seatrial but is that wise? Will insurance make me fix all deficiencies or just those that affect seaworthiness and safety? (I noticed it doesn't have the pot retainers mentioned a few weeks ago ...vbg)
God, this is 10x worse than buying any house....
Joel
St Pete, FL
Yes you should always do a survey before buying a boat. And I believe the
survey can and should be use as a price negotiating tool .What good would it
do a potential buyer to find out about expensive repairs that are required
if in the end it had no affect on the price ?
On 3/12/06, Dale Klahn Dale.Klahn@metrogr.org wrote:
A survey is not a price negotiation tool. Always, Always, Always do a
survey.
Dale Klahn
"Kimberly Templeton" eagletrawler@gmail.com 03/12/06 20:24 PM >>>
Put your offer in at what your willing to pay ,if he counters then ask
for a
survey and adjust your offer based on what is learned.
On 3/12/06, dd@gregsteckel.com dd@gregsteckel.com wrote:
I have only bought two boats; one was a trade in to a dealer and the
last
one was via broker. All owners and brokers expect that the asking
price
on
a boat will be worked down by the buyer. Therefore, it is always
high. I
would do a comparable search on Yachtworld.com for similar boats with
similar equipment to get a feel of the market for this type of boat to
determine what I would be willing to pay for it. Keep in mind that
the
selling price most likely will have to meet financial and insurance
requirements as well. Do a personal inspection on the boat and start
to
mentally lower your offer based on what you deem needs to be repaired
to
meet insurance or other operational and safety requirements; and then
make
an offer accordingly with the caveat of an acceptable survey. After
the
survey, you can change your offer if other repairs become evident.
Greg Steckel
M/V Different Drummer
President 35 Sundeck
www.chesapeaketrawlering.com
www.chesapeakesailor.com
www.fmyc.org
-----Original Message-----
From: Joe W [mailto:cruiser6003@yahoo.com]
Sent: Sunday, March 12, 2006 6:59 PM
To: Trawlers-n-Trawlering
Subject: T&T: Boat Price Negoitiations
Evening all,
Well, I am getting close to actually putting an offer on a boat. This
is
my first foray into offer/accept dealings and I'm a bit tentative as
to
how
to proceed. During my inspection of the boat the broker (not listing
broker
but same firm) hinted that the vessel could probably be bought for X.
X is
quite a bit lower (only 72%) than what the seller is asking but almost
hit
the head of what I am willing to pay. Now, knowing what broker thinks
boat
is worth, do I offer a bit lower, a lot lower or give the price but
indicate
firm. Also, I know there are significant items which need
repair...genset
for example. How does knowing these items need repair and will turn up
in
survey affect how I offer? Perhaps the broker was already discounting
this
in his estimation.
Bottom line is I want to give a fair price but leave as little money
on
the table as possible. What effect does lowballing have on
negoitiations?
Is
it off putting? I mean will it severely dampen his enthusiasm to sell
to
me.
Some might say...well all he can do is say no....no is not what i
want, i
want a counter to my price...
Help...
Joel
St Pete, FL
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I'd sure recommend fixing any problems known/found yourself, and negotiating
a price drop to pay for said repairs. If you let the current owner make the
repairs, I can pretty much guarantee you'll get the quickest, cheapest
action to stop the symptoms (not necessarily solve or fix the problem)
available.
Keith
We're going to have a terrorist attack, but we don't know where or when. I
think you could say the same thing about tornadoes.
----- Original Message -----
From: "Joe W" cruiser6003@yahoo.com
Offer my best price, contingent on sea trial and survey (Knowing full
well that there are several survey items to deal with). If he wants to fix
it all ...great, i got a good dea, if not, I got a lower price but have $
to use towards correction. I know one thing, if I get it for that price it
will be a fair price to me.... Perhaps I could get it for less if he is
really desperate, but then again....