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Welcome to Lab Marine, Inc. |
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Boats For Sale |
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Boat Wish List |
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Bidding Procedures |
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Bidding Procedures
• All offers may be made with contingencies of sale. (Sea trial, survey, etc.) Any contingency and fees resulting from a contingency is the sole responsibility of the buyer. (Launch fees, re-winterization, etc.) Only boats 30’ & larger are available for sea trial. All others are available for land & mechanical surveys only.
• All surveys are only to be performed by accredited & insured surveyors. Lab Marine reserves the right to approve or reject any surveyor or mechanic on behalf of our seller.
• This is not an auction and there is not a sale date deadline. Bids will continue to be forwarded to the lien holder as they are received until an offer is accepted. The lien holder has the right to accept, reject or submit a counter offer on any submitted bid. Once an offer has been accepted the lien holder has no obligation to respond to any previously submitted bids still awaiting a response. As result bidders should submit their best bid from the start or risk the boat being sold to another buyer while awaiting a counter offer.
• Once a bid has been accepted, the buyer has twenty-four hours to overnight or wire transfer a deposit of ten percent (10%) of the sale price. Boats over $100,000 are capped at a $10,000 deposit unless otherwise stated. The deposit is fully refundable should the buyer be dissatisfied with the results of any agreed contingencies, as set forth in the buyer's bid.
• Once the deposit is received the buyer has seven days to perform any contingencies of sale, all of which must be coordinated with our office. Prior to or upon the seventh day the buyer must accept or reject the sale. If accepted buyer’s deposit will be applied towards the sale price and we will proceed with closing. If rejected the buyer’s deposit will be returned less any fees incurred during the contingency period. Closing needs to take place within five days of acceptance.
• Buyers to are responsible for boat removal or storage arrangements from the date of closing. Forty-eight hours of free storage will be provided at any of our facilities before fees will accrue if storage arrangements have not been made.
• A buyer's premium of $165 will be charged on all purchases to cover administrative fees & overnight delivery charges. This does not include transferring title or documentation. Buyers will receive from our title department all the documentation necessary to complete this process. We can provide complete transfer on all USCG documented vessels for an additional fee. Maryland law requires that we collect sales tax & transfer title on all vessels primarily used in Maryland waterways. For this service additional fees will also apply. (Please contact our offices for more information.)
By placing of bid, buyer acknowledges and accepts the terms of our procedures.
Lab Marine, Inc.
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4802 Skinners Neck Rd Rock Hall , MD 21661, USA |
Toll-free 877-401-0783 Tel 410-639- 9797 Fax 410-639-9007 Email Us |
