Evaluating offers and contingencies

Read the whole offer

The price is one line. An offer also states the deposit, the conditions, the dates, the inclusions and the payment method. Compare them against what you need. See Making an offer and the memorandum of agreement for the standard terms.

Compare offers in a table

• Price and the VAT treatment.
• Net to you after commission, loan payoff and costs. See Listing agreements and the costs of selling.
• Deposit size and holder. See The deposit: how escrow protects you.
• Conditions: survey, sea trial, finance, sale of another boat.
• Dates: survey, decision and closing.
• The buyer's proof of funds. See Proof of funds and anti-money-laundering checks: what to expect.
• Inclusions: tender, electronics, spares.

Conditions to weigh

• Subject to survey: normal. See Surviving the buyer's survey.
• Subject to finance: adds risk. Ask for the lender's name and a pre-approval.
• Subject to the sale of the buyer's boat: ties your sale to a second sale. See Trading in your boat when buying the next one.
• Long closing dates leave your boat off the market and idle.

Responding

1. Reply in writing, within a stated time.
2. Counter with a specific price and terms, and say what you will not change.
3. Keep other buyers informed if your broker allows. A second interested buyer helps your position, and it must be true.
4. Do not accept orally. Acceptance becomes a contract when you sign the agreement.

Low offers

A low offer opens a negotiation, and a counter keeps the buyer talking. Look at what your broker knows about comparable sales before you decide. See What is my boat worth? How brokers price a yacht.

Related guides

• Making an offer and the memorandum of agreement
• Surviving the buyer's survey
• Trading in your boat when buying the next one