Marine Safety Disclosure

[cyclops2]

Re: Marine Safety Disclosure

The seller would make a GREAT Security & Exchange Commision ,, Director of Ethics person.

 

[H20Rat]

Re: Marine Safety Disclosure

Man I hate it when people start tossing attorneys around. I have a saying that there is always 3 sides to every story. We've only heard 1...there's the other side, and lastly the truth which usually can be found somewhere in the middle. I can't understand why your buddy would keep a $2000 deposit unless he had it in writing that the deposit was non-refundable.

Actually there are potentially 4 sides to the story! Person A's version, Person B's version, the truth, and the lawyers version. All very likely to be substantially different.

 

[cyclops2]

Re: Marine Safety Disclosure

I vote for a Judge Judy trial.

 

[Home Cookin']

Re: Marine Safety Disclosure

Home Cookin', I guess I've never seen a contract that had a clause for a non refundable deposit, prior to a survey and sea trial. I guess a contract can say anything really. When I got a deposit on my boat, I never cashed it, and had he backed out due to a survey issue, he would have been handed the deposit back.

which is the point, a contract can say anything, and what it says, is the only thing that matters. People often have oral (non-written) agreements but problems arise when they both don't understand the terms, or understand them differently.

For one thing, if I (seller) have to take my boat off the market and miss sales and the season while you (buyer) putz around with a survey, then it may be fair to have a $2000 deposit, of which $500 is non-refundable.
if there's going to be an inspection contingency (which is what you describe) then you need both a time limit, and the type of conditions that would allow you to walk and get your deposit back. I might be willing to let you walk if you find structural problems, mechanical problems that will take more than $X to fix, but not if you find cosmetic problems, or that any of the electronics don't work. It would be a good idea if, in exchange for you getting out of the deal, you give me the survey results.

I would never give you a financing contingency. Many buyers learn to their peril that car dealers don't, either. But it's possible.

It would be stupid for me to give you a right to walk, and get your full deposit back, for anything you find you don't like. That's a free option. It would include obvious problems you see when you first walk up, and gives you the ability to take my boat off the market while you keep shopping.

Here, the buyer says he found "something" won't say what and wants his money back. That's a bad deal for the seller who took his boat off the market while the market is closing. To be practical, I don't think I'd sue for the lost revenue and might even give back some of the deposit--but no way if the buyer won't tell me what he found. Fairness cuts both ways.

As for the "judge judy" comment: shows like that have sent many a person into real court only to have their asses handed to them, by both the other side and the judge (who all detest those shows). They are no more "reality" than the Flintstones.

 

[25thmustang]

Re: Marine Safety Disclosure

How would you determine the severity of a problem, when the survey is only obligated to the person who pays for it? I've never shown a survey to a seller.

 

[UncleWillie]

Re: Marine Safety Disclosure

...As for the "judge Judy" comment: shows like that have sent many a person into real court only to have their asses handed to them, by both the other side and the judge (who all detest those shows). They are no more "reality" than the Flintstones.

I vote for a Judge Judy trial.

This would be a perfect case for Judge Judy.
It would be a win-win situation for both the ex-buyer and seller.

Have you ever wondered why people would seem to be stupid enough to actually go on the program.
Especially as most cases appear to be someone attempting to get blood out of a turnip.
You need to understand just exactly what Judge Judy, Joe Brown or any of the other court programs are.

They are all examples of binding arbitration. They are not court trials.
Joe Brown tends to let this slip out more than the others.
The ex-buyer and the seller would both sign contracts agreeing to the binding arbitration.
This is why either one would be thrown out if they were to attempted to retry their cases in a court.

The producer of the show agrees to fly both to them out to California to be on the show.
They are put up in a hotel room for the night; Transported to the studio for the program;
Present their cases, and are subsequently flown home.

In return for their appearances on the show, the producer agrees to pay all fines up to the jurisdictional limits in their home communities. Usually $5,000. Any remaining funds are divided between the two litigants.

For example, if the seller were to win his case, he would be awarded his $1000 countersuit.
The remaining $4000 would be divided between the ex-buyer and seller.
So the seller would walk away with $3000, and the ex-buyer, even though he lost his case, would walk away with $2000, which just so happens to be the amount he was asking to be refunded.

If the ex-buyer were to win his case, he would be awarded his $2000 refund. The remaining $3000 would be divided between the ex-buyer and the seller.
The ex-buyer would walk away with $3500, And the seller would walk away with $1500, even more than he was asking for in his countersuit.

In either case, both the ex-buyer and the seller would have no out of packet expeses, walk away with at least the amount of money they initially asked for, and get a free three-day trip to Los Angeles to boot!

Win, Win!