Purchasing from police impound

[MacGregor518]

Has anyone done it? How was the experience? I've seen some ads on craigslist for purchasing a boat from police impound. Seems like the prices are good; of course I would inspect it myself as well as have a survey done, but just wondering if anyone had any input.

Thanks, Matt

[Terra Nova]

If you shop for yachts at the police impound yard...

you might be a redneck.

[Sea Dreaming]

I thnk Jeff Foxworthy would be envious of that one.

[hellosailor]

Rarely seen police impounding yachts.


More often, USCG or other federal agencies seizing them in drug busts. At which point they are "evidence" and may sit untended at a dock for two years taking all kinds of damage and being stripped while the case goes through the courts.


So can you get a bargain? Sure. Buyer beware, you'll also get no warranty and probably have hassles obtaining a title. And need to make a cash sale at an auction to win it, with limited or no chance to inspect it first.


So, go see if you have any local police, who have any impounded boats. And then ask their terms.

[reed1v]

Buy the boat, buy the revenge when the criminals come looking for their boat. Has happened. Title might be a bit of a hassle.

[MacGregor518]

Thanks for the input. Not saying it's a preferred method, just wondering if its a viable option, provided I can inspect it myself AND have it surveyed. The ad lists sale prices, so I don't think it's an auction. The ad also states that all vessels have clear titles.

Sent from my RCT6203W46 using Tapatalk

[reed1v]

Originally Posted by MacGregor518

Thanks for the input. Not saying it's a preferred method, just wondering if its a viable option, provided I can inspect it myself AND have it surveyed. The ad lists sale prices, so I don't think it's an auction. The ad also states that all vessels have clear titles.

Sent from my RCT6203W46 using Tapatalk

"Clear title" can mean different things. Usually a quit claim title which does not erase the underlying owner's claim of ownership. Seized vessels have been sold and then wound up in court in lawsuits claiming the seizures were illegal. Worse, the boat had a loan attached to it which never got paid off so the mortgagor still has a preferred claim on vessel. Law enforcement personnel are not the swiftest in this stuff, and you can walk into a complicated legal situation not of your own making.

Safest bet is if the boat is documented and the documentation shows the law enforcement agency now the documented owner. Otherwise you really need to do some homework on this stuff.

[UNCIVILIZED]

I can't help but to think that on anything which was impounded, the owners likely weren't overly concerned with the boat's welfare. So then, it's likely that she didn't have too much in the way of maintenance done regularly. Which could wind up being Real pricey to "catch up" on. Particularly if it involves any of the boat's major systems.

[boatbrain]

Can you give us some background on what state and what city or Law Enforcement Agency you are talking about?

Personally, I think the condition of the boat is the main worry - the cops seized the boat, the chances are high they have the law on their side - I tend to think title and mortgage claims are not likely problems, but the condition - and as someone said, it's very likely the owner did not care about maintenance at all - may have been too full of coke or crack to even really notice - so it's not just maintenance you can see on survey - how do you really assess an engine? If there was no oil change for years or some bearing is going very fast, an oil sample might tell you that - if the guy did not change the oil for ten years then did so right before the boat was seized you got nothing.

Best boat IMHO is from an engineer type who is selling because he got too old or bought another boat. Doesn't have to actually be an engineer but someone who could have been

[muttskie]

Originally Posted by Terra Nova

If you shop for yachts at the police impound yard...

you might be a redneck.

Brilliant!

[hamburking]

I know this boat personally...no not mine:

Kingston Yachts for Sale, New & Used Boat Sales, Powerboats & Sailboats - Kingston Yacht Sales

It was my neigbour at my marina (kingston marina, inner harbour). The owner, Wayne, was a very nice man. Unknown to us was that he made his income running drugs from Antigua on his boat. Eventually he was caught and his boat impounded and sold at auction. It has resold several times since, and apparently is selling again now. Its an excellent boat, and a bargain at the asking price, IMHO.

It was purpose built for running drugs: sailing very fast, single handed, in extreme weather.

[Jim Cate]

I don't know what the situation is now... quite possibly even worse...

In 1984 when I bought my previous boat in San Diego, whilst doing the survey and then bottom paint I noticed a beautiful Swan 55 called Andiamo on the hard nearby. It had been a well known race boat in past years so I was interested and asked about. Seems it had been seized with drugs aboard, and was awaiting the outcome of proceedings. Hatches were open, the companionway was open and it was falling into disrepair... so sad. We were told that because it was "evidence" that no maintenance could be done, even things like closing hatches to keep rain out.

Fast forward a few years. We encountered Andiamo out cruising. Chatting with the new owner, he related that despite all the paperwork being in order, etc, every time he encountered officials (ie clearing in or out of a country) he was treated like a suspect, the boat was searched (where other boats were not) and in general it was a big PITA.

I can see that with the heightened security issues we face today, that such things might be an issue with a boat of such provenance.

Jim

[bsurvey]

impounds are usually stripped and abandon and not worth much, the cops and feds do not preserve them in anyway.


you may want to look into bank repo's they usually are handed over to a dealer or a broker and are typically in better shape.


definitely take your surveyor with you for the previewing

[Snore]

Originally Posted by Jim Cate

I don't know what the situation is now... quite possibly even worse...

In 1984 when I bought my previous boat in San Diego, whilst doing the survey and then bottom paint I noticed a beautiful Swan 55 called Andiamo on the hard nearby. It had been a well known race boat in past years so I was interested and asked about. Seems it had been seized with drugs aboard, and was awaiting the outcome of proceedings. Hatches were open, the companionway was open and it was falling into disrepair... so sad. We were told that because it was "evidence" that no maintenance could be done, even things like closing hatches to keep rain out.

Fast forward a few years. We encountered Andiamo out cruising. Chatting with the new owner, he related that despite all the paperwork being in order, etc, every time he encountered officials (ie clearing in or out of a country) he was treated like a suspect, the boat was searched (where other boats were not) and in general it was a big PITA.

I can see that with the heightened security issues we face today, that such things might be an issue with a boat of such provenance.

Jim

Jim

Let me guess--- she had the same name and color scheme.




Sent from my iPhone- please forgive autocorrect errors.

[mcarling]

I wouldn't buy one for moral reasons. Most of them are not taken from criminals. Most of them are taken via civil asset forfeiture with no conviction of any crime. Civil asset forfeiture means that the police want something that's yours, they take it, and you have to prove that you're innocent of any possible crime to get it back -- which is virtually impossible. The police then get to sell and it and keep the money i.e. buy shiny new toys they want.

I want no part of supporting such a racket.