DIY Boat Sale (part1): the process

[@daneulekowski929]

One thing I disagree with is returning the deposit, when I sell something I always get at 10% non refundable deposit to hold the item. Learned my lesson the hard way, when I held a camper, for a couple for over a month. They had broken up, and decided they didn't want it. I gave them their deposit back , and then was unable to sell the camper, without including winter storage to the new buyers. If the same scenario happened now, I would've kept the $1100 deposit, until I was able to sell the camper for my original price. The nice part is you can always return the money, if you end up not losing out on the deal.

[@SailFanatics]

Dane You certainly can include in your agreement any provision that the other party will accept, such as a non-refundable deposit. I would doubt many boat buyers will commit to turning over 10% of the purchase price for the opportunity to spend more money on the inspections of a boat they are interested in purchasing. That's why I suggest keeping the acceptance period short, it minimizes the risks to the seller.