- Joined
- May 11, 2019
- Messages
- 3,623
- Location
- United States
- Vessel Name
- Muirgen
- Vessel Make
- 50' Beebe Passagemaker
I find it interesting how generous everyone is! Especially with other people's time and money!
Lou:
You mean like paying the Buyers broker's 5% and the Sellers Broker's 5% out of the purchase price, then paying the Buyer's broker 5% directly because the Seller's broker refused to pay over the 5% already paid by the Buyer when he purchased the boat for 10% more than the Seller would have sold it if he hadn't gone through a broker? Oh, and by paying an additional 5% of the total purchase price directly to the Buyer's broker, you expect the buyer to pay that 5% also on the 10% of the purchase price that went to pay off the broker in the FIRST place? . . . . . . So, just for sake of this discussion, let's assume the purchase price is $150,000.00, the Seller's broker receives $15,000.00 out of that, in reality from the Buyer since that's where the funds came from, and then the Buyer gets the privilege of not only paying $7,500 MORE to HIS broker, but $750.00 of that is commission on the 10% commission the Buyer has already paid so the Seller can pay it to his broker . . .
That money? That's what you are speaking of?
We are in agreement that some people appear to be generous with other people's money, in this case, the buyer's (which is me since I am the original poster).
This type of thinking is why we backed out of the deal, because the Seller's broker came across as really slimy, first agreeing on the phone with our broker that the commission would be split between buyer and seller's broker, then reneging on that when offer was discussed that included, IN WRITING, that the commission would be split as verbally agreed. We just couldn't see ourselves working with the Seller's broker. The boat would have been forever tainted for us.
By the way, could you please share with us what brokerage firm you work for? Thanks.
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