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Purchase is close

LadyG

By LadyG
in New to Boating?

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Naughty Cal Veteran II

Naughty Cal

Posted
Posted
1 minute ago, LadyG said:

yes, this has had a lot of money spent on it, probably £10K  or more if paying  professional fees, its not an owner fit out.

Probably? 

You need to be seeing receipts before believing figures like that. 

If no receipts Why?

If work was done DIY is it carried out to a safe standard?

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Athy Veteran II

AthyDonate to Canal World

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33 minutes ago, Naughty Cal said:

But you are not the vendor. It matters not what you think on that matter.

Wells next the Sea.

Missing it this year. First year in about 7 we won't be going :(

When was it last dredged? Looks a bit shallow in places.

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WotEver Veteran II

WotEverDonate to Canal World

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1 hour ago, LadyG said:

To me, subject  to survey means the offer would be negotiable. after the offer.

To me, subject to survey means the offer will stand unless the survey throws up something 'orrible, in which case I'll walk away. 

Its your money and your risk, do what you like. 

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Alan de Enfield Veteran II

Alan de Enfield

Posted
Posted (edited)
27 minutes ago, WotEver said:

To me, subject to survey means the offer will stand unless the survey throws up something 'orrible, in which case I'll walk away. 

Its your money and your risk, do what you like. 

"Normally" in the BMF (I think that's the one most brokers use) contracts the offer can only be renegotiated if the survey reveals 'problems' requiring more than 10% of the purchase price to correct.

 

As with any contract - if both the buyer and seller agree you can amend it to (say) 5% and you both sign the amendment.

 

 

Edited by Alan de Enfield
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LadyG Veteran II

LadyGDonate to Canal World

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oh, gosh, 10% is a lot, I just assumed it was any problem and the original offer is negotiable, eeks, 

The purchaser has taken all the risk, and can elect to walk away, losing eg £500.

I have asked the Q, "has the boat been surveyed recently"

and got the answer, "you can see a survey from a few years ago" , not quite the same thing.

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Captain Pegg Veteran

Captain Pegg

Posted
Posted (edited)
6 hours ago, LadyG said:

oh, gosh, 10% is a lot, I just assumed it was any problem and the original offer is negotiable, eeks, 

The purchaser has taken all the risk, and can elect to walk away, losing eg £500.

I have asked the Q, "has the boat been surveyed recently"

and got the answer, "you can see a survey from a few years ago" , not quite the same thing.

No. The deposit and sale agreement will bind both parties to complete the deal providing the value of defects is not greater than 10% of the purchase price. Within that 10% the final price is up for re-negotiation regarding defects expressly identified in the survey but if the purchaser chooses not to complete they lose their deposit. If the defects total over 10% the purchaser can walk away with the deposit refunded.

JP

Edited by Captain Pegg
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Naughty Cal Veteran II

Naughty Cal

Posted
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4 minutes ago, Athy said:

Oh no! This is turning into another of those The Word Game threads!

Christmas...hmm...turkey. I hope it isn't.

No need to wait for Christmas to have turkey.

Looking forward to my double turkey sausage muffin shortly :)

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