Post survey dillema

[dm6045]

Following on from my topic Excited and nervous.

http://canalworld.net/forums/index.php?/topic/90599-excited-and-nervous/#comment-1979651

After we last posted in that topic we came to a satisfactory agreement with the vendors and had the boat surveyed etc... The survey threw up quite a lot more immediate jobs than we had expected and overall wasn't great but even the surveyor said that for its age the hull was remarkably good and he recommended that we re negotiate as our needs in a boat are very specific and as said before this one matched us perfectly.

So as we no longer wanted to proceed at the previous offer price the broker insisted that we get our deposit back and it goes back on the market whilst we try to negotiate further. wasn't particularly worried about that as i said in previous topic the boat had been there since December and nobody else had shown the slightest interest so what were the chances of someone coming along now? We entered re negotiations and it was looking quite positive as the vendors agreed to go down and see the boat for the first time in a long time so that they could see what the surveyor had pointed out and to fix a few BSC issues. Then got the bad news yesterday that someone else is showing strong interest and so the vendors want to wait to hear from them before they consider our reduced offer.

The ironic thing is that as we need a boat with an office 95% of the boats that we look at are 2 bedrooms that we will have to convert but this particular one needs no conversion, however the new people interested are looking for a 2 bedroom boat and want to convert this one! i just cant believe the irony of the fact that what they want is mostly what we have to consider but they would rather have something that needs converting into them! they are only interested apparently because they wanted a boat built by this builder but couldn't wait to get up the waiting list meaning that they obviously have a much larger budget than us. Also they are going to spend what is probably going to be the next 4 weeks getting quotes for the conversion before deciding weather or not they want to proceed

So the dilemma is; I see 2 ways of proceeding either put in one final offer and say look the cash is here ready to go but we are not prepared to wait untill these other people have decided. Or wait 4 ish weeks to see what these people want to do then you can decide if its worth the risk of them also having a survey.

What would you do in this situation?

*frustrated rant over and out lol*

[IanM]

I think the question is how bad do you want this particular boat?

You seem to be under the impression that the vendor should sell it to you because you want it as is and the other interested party want to change it.  In all honesty a majority of sales the vendor will go for whoever offers the most money.

Of course, the message about the 'other interested party' may just be to get you to offer more.

[mross]

Yes, don't pay more than you think it's worth or what the surveyor implied it was worth.

[dm6045]

4 minutes ago, IanM said:

I think the question is how bad do you want this particular boat?

You seem to be under the impression that the vendor should sell it to you because you want it as is and the other interested party want to change it.  In all honesty a majority of sales the vendor will go for whoever offers the most money.

Of course, the message about the 'other interested party' may just be to get you to offer more.

Oh i dont think that they should sell it to us just because we want it as it i was just saying its ironic that most of what we look at is what the other party wants. 

We do really want it but only have one other offer left and then we're maxed out and would have to walk away anyway just wasnt sure weather to put that forward and say take it or leave it or hang around and see what the others want to do when in all probability they sound like they have a much larger budget and would be able to offer more

[Rickent]

I would put in your final offer, let them know the money is waiting.

They could go with new buyers and still not sell, if their survey brings up the same issues. Stand your ground and don't get into a bidding war.

[IanM]

If you put in you highest offer and it's turned down you don't get the boat.  If you wait and the other party puts in an offer which is accepted, you don't get the boat. Either way you end up in the same position.

If it really is the boat for you put in the higher offer and see if they accept it.

Your perfect boat will find you, if it's this one then your offer will be accepted.  If it isn't then keep looking, it will come.

 

[dm6045]

Well it seems that doing nothing was the best course of action just as we were typing an email to the broker to say that we would put in final offer of 51k we recieved an email to say that the other people werent interested and that they wouldnt accept our 50k offer but would accept 51 as long as sale completed next week... so we get the keys on Wednesday, couldn't be happier yes it is 1k over what the surveyor said ( he did say that there wasnt a hope in hell of the owners accepting that) but we would have had to spend nearly that on another survey for a boat that maybe wouldnt have ticked as many boxes. And still its 5k less than our pre survey offer. 

[Laurie Booth]

2 minutes ago, dm6045 said:

Well it seems that doing nothing was the best course of action just as we were typing an email to the broker to say that we would put in final offer of 51k we recieved an email to say that the other people werent interested and that they wouldnt accept our 50k offer but would accept 51 as long as sale completed next week... so we get the keys on Wednesday, couldn't be happier yes it is 1k over what the surveyor said ( he did say that there wasnt a hope in hell of the owners accepting that) but we would have had to spend nearly that on another survey for a boat that maybe wouldnt have ticked as many boxes. And still its 5k less than our pre survey offer. 

Well done

[cuthound]

Great news. You could put in a counter offer of £50,500, which they would probably accept, but for £500 it's hardly worth the effort.

[dm6045]

53 minutes ago, cuthound said:

Great news. You could put in a counter offer of £50,500, which they would probably accept, but for £500 it's hardly worth the effort.

yeah my oh said that originally but i said for the sake of 500 it just really wasnt worth it seeing as they also agreed to put right the bss/ engine issues as well which we didn't originally think they would. and knowing what the sellers attitude has been all along with regards to what they would accept it just seemed like we'd be pushing our luck and likely to just annoy them by offering 500 less.

Anyway now just to definitely book in the work that needs doing, and wait for the utter terror of receiving the bill. 

[cuthound]

1 minute ago, dm6045 said:

Anyway now just to definitely book in the work that needs doing, and wait for the utter terror of receiving the bill. 

Yes the first bill is terrifying,  however as the bills seem to arrive at frequent intervals you soon get used to it.

Definition of BOAT, bring out another thousand 

[WotEver]

Congratulations

3 hours ago, dm6045 said:

... they also agreed to put right the bss/ engine issues...

Just be sure to double-check that any work they do is to a high standard. We have another member here who had the vendors service the engine prior to sale and he's had loads of problems with it. 

[Machpoint005]

2 minutes ago, WotEver said:

vendors service the engine prior to sale

If you are of a suspicious turn of mind, see if you can get a crafty look at the dipstick before the "service", and mark the oil filter inconspicuously with a permanent marker. At least you'll then know the oil has been changed (or not).

[dm6045]

Oh they arent servicing it there was some issues with a broken alternator bracket, engine mounts and alternator wiring loom that they are having fixed.

21 minutes ago, WotEver said:

Congratulations

Just be sure to double-check that any work they do is to a high standard. We have another member here who had the vendors service the engine prior to sale and he's had loads of problems with it. 

 Our surveyor has said he will check its all been done when he comes back to issue bsc before we move it.