Is a non refundable deposit usually split with the broker?

So, am I following this correctly,, not only is the potential purchaser not getting his down payment back, or at least a portion, the broker is not going to get her/his fair share for working to bring about the deal? What a world we seem to live in ....

And this is from the person who always recommend a contract to be reviewed by an attorney. Why bother if the contract for buying yachts is more of a guideline? There is always exceptions but the sales professional should 100% rely on the seller to make the exception because that’s their job. It’s the seller who has the option to make the exception. I love how today you are the compassionate olderboater and then tomorrow you will insist someone is an idiot for not reading their contract, policy, etc.

And in my experience most brokers don’t want to take the liability to defend the contract that they provide. They don’t want to harm their reputation or deal with the aftermath even though the contract is crystal clear. If someone take the boat of the market for 6 weeks and fails to perform then the contract allows for costs to be recovered.

And the biggest issue why this is so unclear is because a broker holds deposit vs a title company. Which I have no idea is this age why that is.

There is actually no inconsistency in my stance. I thoroughly believe in reading the contract and going by it. However, I also believe that the one favored by the contract can make exceptions and I'm not addressing the OP's situation as I don't know the details. However, here's an example and this one is one I know actually happened.

Buyer is set to close, three days away, has been great throughout the process. He receives a call that his wife and son have been in a serious auto accident and he immediately flies home. They are both dead by the time he arrives. He calls the broker the following day and says he's fine forfeiting the deposit but can't follow through. The broker asks if he'd like an extension of time. He says that he can't imagine boating without his wife and son, so that wouldn't help. The Broker talks to the Seller and both quickly agree to refund the deposit. Yes, they've both spent time and some money but they don't want any of it. Extreme case, yes.

In the OP's case, it sounds like a split between he and broker and each decides whether they feel comfortable keeping a deposit. I don't know the specifics of their situation.

I believe in contracts and go by them. However, I always have the discretion to be more generous or compassionate than the contract. We had firm purchase orders from major department stores that we cancelled. They were enforceable but we didn't choose to try to enforce a purchase order during a pandemic. We also want future business with them, not a pandemic driven lawsuit. On the other hand the vast majority of our landlords agreed with us on rental concessions. They could have taken the stance the leases were firm. We could have taken the stance that it was a force majeure. Neither of us did so. We talked it out and found a fair solution to a situation not anticipated.

Now, if a buyer simply decides they want a different boat, I'm likely to say to keep their deposit and split it. A lot of difference between change of mind and extenuating circumstances.

Regardless, I don't feel the buyer ever has an argument against losing their deposit, but sometimes the seller and broker may feel leniency is called for.

I always start with the contract, but then if I feel I want to be more generous than it calls for, I do so.

The way we should all to do business.