Report: #888331

Complaint Review: Edward Yacht Sales

  • Submitted: Fri, May 25, 2012
  • Updated: Fri, June 01, 2012
  • Reported By: floridaboater — United States of America
  • Edward Yacht Sales
    18514 US 19N
    Clearwater, Florida
    United States of America

Edward Yacht Sales Kirk BOAT RIPOFF Clearwater, Florida

*REBUTTAL Owner of company: The rest of the story

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We were interested in a boat Edwards Yacht Sales were posting. I contacted Kirk to try an arrage a chance to see this boat. After we finally got around to seeing it, we became even more interested in it. I told Kirk that we are interested and that we want to start the process of trying to purchase it. We started negotiating with the seller on the price. We got to a final agreement. I then started trying to complete the financing, insurance, survey, sea trial, etc. and have it all set up and ready to close. The seller made a request that we show pre-approval of finacing before they sign the sales agreement, and that the boat is reserved for us. I got them not pre-approval, but APPROVAL. We emailed Kirk the signed sales agreement, with the financial approval, and proof of deposit on the boat. He told me that we are all set and golden and that the sellers are signing the agreement and he will email the complete agreement back to me. Instead of an agreement, I recieve a phone call from Kirk telling me the seller went with a Cash Offer for the same amount right before signing the agreement with us. This is total BS. After depositing 10% of the purchase price into an escrow account and getting all the paperwork complete, which took total of 3 weeks, Kirk will tell me that a 2 min. phonecall will tear that down? Verbal agreements and emails are proof we had a deal and we were to be the buyers. There is something fishy going on with this deal and have caused us 3 weeks of lost time and a beautiful boat we were hoping to buy. Watch out when dealing with Edwards and their verbal agreements and emails worthless and they are not loyal to their clients. We tried to later contact Kirk to find out what happened, but he ignored our phonecalls and hung up after speaking with us for a few seconds. This is extremely unprofessional and you should not deal with him. 

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#1 REBUTTAL Owner of company

The rest of the story

AUTHOR: Edwards Yacht Sales - (United States of America)

The client is basically correct with his side of the story. It did take over 3 weeks to get his financing in place. It normally takes a few days. The seller, not Edwards Yacht Sales required him to be pre-appoved for financing. We were representing these clients, the buyers. The seller was being represented by another broker. The seller did imply that he would hold the boat off the market, but without a signed contract neither Edwards Yacht Sales or the buyer can force a seller to honor a verbal agreement. This is basic contract law. Until both parties sign a purchase contract and a deposit goes in to escrow, there is not a legally binding contract. We were as frustrated as our client as our buyer lost the chance to buy a boat and we lost a commission. While I understand they are frustrated, Edwards Yacht Sales was not selling the boat or representing the seller. If there is frustration, it should be directed towards the seller of the boat they were hoping to purchase. As the owner of the company, I personaly talked to our cleints no less than 7 times in a 3 day period.  We recieved the clients wiring instruction the next day on a Saturday and wired the funds back to them as soon as the banks opened. Our broker, Kirk has send a list of 11 other boats of the same age and price range. We are waiting for them to reply if they are still  interested in buying a boat.
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