Originally Posted by DJS
then holding back funds may suit both parties
I can't ever imagine that being the case, no seller is going to accept it - you could easily say it needs a heap of work doing and deduct it from what's owed and he'll be none the wiser.
Also, look at it from another point of view - if the seller was happy with this arrangement than I'd be worried something was seriously wrong, do you really want to commit to buying a boat without know if it even starts? most people won't even buy before a sea trial.