ONE BUYER’S MISFORTUNE IS ANOTHER’S GAIN…

There’s always a story with every boat transaction but this one is unique and presents the first ‘deal’ that’s existed in the post COVID hot market.

The story is this; I represent a client purchasing a 2014 Riva 52 Rivale in Fort Lauderdale and we’re buying it at a good price $724,000 (25% below ask) but it’s looking like we may not be able to close due to failed financing.

Is that a good deal you ask? Well there’s a 2007 listed for more money, wholesalers that buy boats and resell them have offered the same amount and the current owner has already bought a new boat.

To spell it out, you can buy this boat and sell it without losing any money except for taxes!!

Now the only catch is that our survey turned up a few findings and some improvements will be required for the boat with an expected figure of $40K in a bottom job, paint touch ups, teak maintenance and engine/generator servicing.

The only other other catch is that our transaction end date expires on Wednesday 12/22 so you’d have to be comfortable closing prior to the new year using the survey reports generated by the surveyors we had contracted.

Ofcourse I am making my 5% in this transaction and I am willing to roll that into your purchase/improvements to deliver on my professional obligations to the other broker (who has been an absolute professional) and to share in the upside of the potential resale.