Question: signing buyers agreement prior to survey

[mahalocd36]

My point is that a boat should be no different from a car or a house. If I want to kick the tires or tap on the foundation, I shoudn't have to agree to buy the thing before I check it out.

It's standard practice when buying a house or a large boat (at least where there's a broker/realtor involved) to get an agreement in writing and deposit between the two parties before any house inspection/boat survey is done. (Cars are different - there's less to lose) I've never bought/sold a house that didn't make the buyer do that. It's there mainly to protect the buyer - so the item gets sold at an agreed price contingent on inspection, and also gives you wiggle room out of it or for a lower price. It protects you from the seller not selling it to someone else who offeres more money who comes along who doesn't care about the inspection. Do you want to risk losing the survey money because the seller decides he doesn't want to sell it to you for whatever reason?

You could argue that's a risk you are willing to take, and you have a point. But, you asked if it was standard practice or not, and it is. If you aren't willing to do it then you can find another boat who will let you survey it without an agreement, in a private sale.

But put yourself in the seller's position. He's asking himself, why does this guy want to survey it so badly but isn't willing to put a deposit down (i.e. doesn't really want to buy the boat).... My husband and I had this discussion as to why it was the "standard practice"....why not let someone survey your boat/house w/o a deposit if you are trying to sell it? Then we came up with it - you or I have no criminal intent, right? But say you are a criminal. What better way to scope out a house/boat than bring the "inspector/surveyor" (your best friend/ brother, etc) with you and go through every inch of the house/boat and scope things out.
Find out where the good stuff is hidden so to speak.
Plus, if there's no written agreement, you can cause damage and it's a long road to legal recourse for the seller(especially if you have never legally put your name/address to a piece of paper). Plus with a boat you get a sail out of it for free (you are not paying your best friend the "surveyor").

Now of course that isn't your intent, but sellers don't know you from a hole in the wall. Another thing I came up with - a good survey essentially takes the boat off the market for a day (or two in some cases) It's a time the seller can't be showing the boat to someone else, and if you arent' serious, he could lose a real sale when a serious buyer shows up but assumes it's under agreeement because it's being surveyed, and moves on.

Keep in mind that surveyors almost always find something that you
can use as negotiation.

Good luck!

[Parfait's Provider]

And maybe, unless there is a serious buyer, there is just too much junk to move so the surveyor can do his job. The "free" sail, hauling to inspect the bottom, having the boat thouroughly gone over, etc., is a lot of trouble to go to for someone who won't pony up the earnest money.

Further, anyone balking at standard practices is likely to become a difficult buyer before the deal is closed. Odds are the seller thinks the potential sale isn't worth that sort of trouble.

Maybe the best thing to do is walk away from it.

[Kato]

Thanks for all the thoughtful replys. A buyers agreement does make sense and I think comparing cars and boats as I did in an earlier post is probably comparing apples and oranges. Not the same thing. I understand now how such an agreement serves to protect both the buyer and the seller. Reality time.