10% to make a offer?
#11
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I was dealing with a broker at one time and he asked for 10% down before bringing the offer to the table. Basically what I found out is the 10% was his brokerage fee. This way if you meet the owner on the test ride and try to by-pass the broker (at a later date) the broker already has his money.
#12
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Thats completely insane..... ALL BROKERS will require a signed contract and deposit to present the offer, usually just fax a copy of the check or they make a copy of it to send it over with the contract/offer to get the ball rolling..... To take your money and put it in Escrow?? They are creating alot of work on there end...
#13
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Join Date: Oct 2003
Location: Tarpon Springs FL
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10% is the sellers side of bizz,Not the buyers......Never heard of such a thing.After price is set then you get to deposits.....Thats how all of my deals went down..
#14
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They want you to pay 10% just to pass along an offer?? That's fvck'n insanity. There not really doing the seller much justice with that attitude. Like was said, give them your terms and a timeframe or you'll deal directly with the owner.
#15
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The Joys of brokerage boats... they want 10% of asking price to pass along a offer on a boat... does anyone ever do this?.. On several hundred thousand dollars that a lot of coin just to ask a question... then try to get it back if they say no...
What are your thoughts on this?
Thanks,
Jeff
What are your thoughts on this?
Thanks,
Jeff
I'm no lawyer, but if you really like the boat it may be worth a phone call to one.
#16
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Join Date: May 2004
Location: Monroe, MI
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The Joys of brokerage boats... they want 10% of asking price to pass along a offer on a boat... does anyone ever do this?.. On several hundred thousand dollars that a lot of coin just to ask a question... then try to get it back if they say no...
What are your thoughts on this?
Thanks,
Jeff
What are your thoughts on this?
Thanks,
Jeff
#19
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How about make an offer with a 10% deposit upon acceptance of the Seller? He is protecting his commission is all. Believe me in this market any offer will get presented if you write one that is not foolsih. I have bought a number of boats with brokers and they are weeding out the tire kickers. Yes I have used earnest money upon acceptance or presented with a check to be deposited in escrow upon acceptance.
#20
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Join Date: May 2006
Location: Ft lauderdale, Fl
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I think everyone is confused on this.....If you are trying to buy, it is normal that the broker take 10% in escrow of the offer, as good faith money. That is usally based upon several things: One, timeline on offer presented. Two, response timeline. Three, upon rejection timeline for refund from the broker, with NO FEE. All real estate deals are done this way as well, most of you should be aware of this. And with most offshores costing upwards of 100K it makes sence. My feeling as a seller is that if a prospective buyer does not have 10% cash to put into escro for a short period of time, then they really can't afford the boat....
Just my two cents
Just my two cents