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TmBates



Joined: 05 Jul 2021
Posts: 49
City/Region: McCall
State or Province: ID
C-Dory Year: 2007
C-Dory Model: 23 Venture
Vessel Name: Serenity Now
Photos: Serenity Now
PostPosted: Thu Jan 06, 2022 9:35 pm    Post subject: Purchase deposit Reply with quote

Hello, from reading purchase advice on the site here it seems like putting a refundable deposit down is a fairly standard practice. Can anybody tell me how they’ve gone about this? Gentleman‘s agreement or some sort of escrow account? Appreciate any advice here. Thank you, Tom
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thataway



Joined: 02 Nov 2003
Posts: 20779
City/Region: Pensacola
State or Province: FL
C-Dory Year: 2007
C-Dory Model: 25 Cruiser
Vessel Name: thataway
Photos: Thataway
PostPosted: Thu Jan 06, 2022 10:58 pm    Post subject: Reply with quote

I have generally done a Gentleman's agreement, However it is much safer to give a deposit. On one especially good price I wired a deposit to the seller's account and we did an E-mail contract. On the sale of my current 25 I knew the seller from C Brats and it was a gentleman's agreement for a number of months.

I have heard of cases where folks even with a deposit sold a boat for a higher price to another buyer. I consider this dishonest.

I have not used escrow accounts for the amount of C Dory (although as you get to the Tom Cat and larger boats, the 10% deposit coin is significant.)

_________________
Bob Austin
Thataway
Thataway (Ex Seaweed) 2007 25 C Dory May 2018 to Oct. 2021
Thisaway 2006 22' CDory November 2011 to May 2018
Caracal 18 140 Suzuki 2007 to present
Thataway TomCat 255 150 Suzukis June 2006 thru August 2011
C Pelican; 1992, 22 Cruiser, 2002 thru 2006
Frequent Sea; 2003 C D 25, 2007 thru 2009
KA6PKB
Home port: Pensacola FL
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TmBates



Joined: 05 Jul 2021
Posts: 49
City/Region: McCall
State or Province: ID
C-Dory Year: 2007
C-Dory Model: 23 Venture
Vessel Name: Serenity Now
Photos: Serenity Now
PostPosted: Thu Jan 06, 2022 11:03 pm    Post subject: Reply with quote

Thank you Bob, that’s very helpful. I’m looking for a CD or CC 23 Venture. Best wishes, Tom
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