Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 18-03-2014, 12:50   #1
Registered User

Join Date: Jan 2012
Location: San Diego
Boat: Pearson 39-2 "Sea Story"
Posts: 1,109
Is this a tar baby?

We are considering an offer on project boat. We haven't made our offer yet: we were going back tomorrow to take a second look before putting anything into it. But we have pretty much decided that as long as the hull is solid, it is a good deal and will be an interesting learning experience. It is available now because the owner is so far behind on docking fees. However, our broker just called and let us know that it looks like they might repo the boat tomorrow, something that might be avoided with an accepted offer.

Obviously, the broker has a good idea what is going on and knows the dockmaster. My concern is that if the dockmaster has already turned this into a collection agency, we could get into a real clusterfart, in addition to all of the work that it needs.

Obviously, I would appreciate any quick answers, as we are being pressured to make an offer today. This is in California, if that has any affect.
__________________

__________________
Greenhand is offline   Reply With Quote
Old 18-03-2014, 12:59   #2
Registered User

Join Date: Jan 2012
Location: San Diego
Boat: Pearson 39-2 "Sea Story"
Posts: 1,109
Re: Is this a tar baby?

Well, hubby has decided to go ahead and submit a formal offer, and back out if anything comes up in the vetting process, like a lien for more than we are willing to pay.

Hang on tight, it is going to be a bumpy ride!!
__________________

__________________
Greenhand is offline   Reply With Quote
Old 18-03-2014, 13:03   #3
Registered User

Join Date: Mar 2010
Location: Living aboard and cruising
Boat: Island Packet 40
Posts: 276
Images: 1
Re: Is this a tar baby?

What was your question(s)?
__________________
Smooth seas never made an experienced sailor.

Bill
CaptainBW is offline   Reply With Quote
Old 18-03-2014, 13:07   #4
Registered User

Join Date: Jan 2012
Location: San Diego
Boat: Pearson 39-2 "Sea Story"
Posts: 1,109
Re: Is this a tar baby?

It was suggested to us that the amount owed to the dockmaster was more than the asking price of the boat, while we are offering considerably less. I am worried that in order to get the boat, we would have to pay off the lien, adding $10k or more to cost of the vessel, before we even get into repairs.
__________________
Greenhand is offline   Reply With Quote
Old 18-03-2014, 13:16   #5
Moderator
 
Pete7's Avatar

Cruisers Forum Supporter

Join Date: Aug 2009
Location: Solent, England
Boat: Moody 31
Posts: 8,578
Images: 14
Re: Is this a tar baby?

Surely a chat with the Dockmaster would be the first thing to do. Might be able to do a deal with him if its high. His alternative is sell it cheap and loose a chunk of his docking fee.

Pete
__________________
Moody 31 - April Lass
Pete7 is online now   Reply With Quote
Old 18-03-2014, 14:09   #6
Senior Cruiser
 
SkiprJohn's Avatar

Cruisers Forum Supporter

Join Date: May 2006
Location: Kea'au, Big Island, Hawaii
Boat: Cascade, Sloop, 42 - "Casual"
Posts: 14,192
Re: Is this a tar baby?

Sounds like a substantial "Tar Baby" and I would find any opportunity to back out. You've probably read all the threads that say don't buy a project boat because you can get one that's sailing much cheaper than rebuilding. It's true. Lots of bargains for the buyer right now.

You didn't mention the boat or design or length or condition. So any opinion on my part is just speculation. Don't invest any more than you are willing to lose.

kind regards,
__________________
John
SkiprJohn is offline   Reply With Quote
Old 18-03-2014, 17:13   #7
Registered User

Join Date: Mar 2010
Location: Living aboard and cruising
Boat: Island Packet 40
Posts: 276
Images: 1
Re: Is this a tar baby?

Quote:
Originally Posted by Pete7 View Post
Surely a chat with the Dockmaster would be the first thing to do. Might be able to do a deal with him if its high. His alternative is sell it cheap and loose a chunk of his docking fee.

Pete
I agree. I'll bet he will be glad to just get some of the dock fee back and especially to get rid of the boat.
__________________
Smooth seas never made an experienced sailor.

Bill
CaptainBW is offline   Reply With Quote
Old 19-03-2014, 04:45   #8
Registered User

Join Date: Apr 2013
Posts: 4,889
Re: Is this a tar baby?

Wait until it gets repo'd and then ask the dock master what kind of offer they will take. I'd be willing to bet the dock master will happily take a very small amount to make it go away.

If you buy from the original owner, the marina can still come after the boat for dockage fees.

No matter what make sure to get a guarantee that it is clear of any other leans but it still may be a tar baby as it's probably not worth paying someone to verify that the boat is clear of any liens.
__________________
valhalla360 is offline   Reply With Quote
Old 19-03-2014, 05:24   #9
Moderator
 
JPA Cate's Avatar

Join Date: Nov 2011
Location: aboard, cruising in Australia
Boat: Sayer 46' Solent rig sloop
Posts: 10,719
Re: Is this a tar baby?

What if you guys just let this one slide by for a bit.....Might be betters hiding out there. I don't know if it's a tar baby exactly, but it seems too encumbered for my instincts. Let it get sorted out first, would be my opinion.

Ann
__________________
Ann, with Jim, aboard US s/v Insatiable II, in Oz, very long term cruisers
JPA Cate is offline   Reply With Quote
Old 19-03-2014, 17:03   #10
Registered User

Join Date: Jan 2012
Location: San Diego
Boat: Pearson 39-2 "Sea Story"
Posts: 1,109
Re: Is this a tar baby?

My husband wasn't persuaded by your arguments. Actually, he didn't even give me a chance to let him know that I had asked your opinions. He called back while I was typing. If the owner had come back within $5k, he wasn't even going to negotiate, just take it.

Now the boat has been claimed and our broker passed the offer onto the legal eagles, who need a few days to make their decision.

Thanks for your time, I hope you don't get the chance to say "we told you so!"
__________________
Greenhand is offline   Reply With Quote
Old 19-03-2014, 19:30   #11
Senior Cruiser
 
SkiprJohn's Avatar

Cruisers Forum Supporter

Join Date: May 2006
Location: Kea'au, Big Island, Hawaii
Boat: Cascade, Sloop, 42 - "Casual"
Posts: 14,192
Re: Is this a tar baby?

Quote:
Originally Posted by Greenhand View Post
My husband wasn't persuaded by your arguments. Actually, he didn't even give me a chance to let him know that I had asked your opinions. He called back while I was typing. If the owner had come back within $5k, he wasn't even going to negotiate, just take it.

Now the boat has been claimed and our broker passed the offer onto the legal eagles, who need a few days to make their decision.

Thanks for your time, I hope you don't get the chance to say "we told you so!"
I would never say "I told you so." and I hope you are successful in getting what it is you desire. I only speak from what my opinion is and from what little experience I have. I've fallen in love with way too many projects to crticize someone for doing the same.

When the deal is done either for you or not I'd certainly be curious as to what it is you are trying to buy and what your bid was. That's just being snoopy I know but would like to know.

kindest regards,
__________________
John
SkiprJohn is offline   Reply With Quote
Old 19-03-2014, 23:47   #12
Registered User

Join Date: Mar 2013
Posts: 1,440
Re: Is this a tar baby?

Quote:
Originally Posted by Greenhand View Post
Well, hubby has decided to go ahead and submit a formal offer, and back out if anything comes up in the vetting process, like a lien for more than we are willing to pay.

Hang on tight, it is going to be a bumpy ride!!

Seems pretty normal, actually. If you're paying attention, you should be OK.
__________________
letsgetsailing3 is offline   Reply With Quote
Old 26-03-2014, 19:53   #13
Registered User

Join Date: Aug 2013
Location: big bend florida
Posts: 177
Re: Is this a tar baby?

I wonder what happened ? I wonder if it comes with a good chain of title ? Was it repossessed or was it sold for dock masters lien ?
__________________
pistarckle is offline   Reply With Quote
Old 26-03-2014, 20:17   #14
Registered User

Join Date: Jan 2012
Location: San Diego
Boat: Pearson 39-2 "Sea Story"
Posts: 1,109
Re: Is this a tar baby?

Quote:
Originally Posted by pistarckle View Post
I wonder what happened ? I wonder if it comes with a good chain of title ? Was it repossessed or was it sold for dock masters lien ?
It was impounded by the dockmaster, but as of yesterday am, the official word was that they were still undecided about what to do.
__________________

__________________
Greenhand is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Need Help With Tar Like Glue!!! scottie Monohull Sailboats 13 25-09-2012 09:13
Hull Interior - Tar-like Bleeding bushymac Construction, Maintenance & Refit 19 09-08-2012 22:28
VC Tar Removal fon7546 Construction, Maintenance & Refit 10 23-11-2011 05:05
A New Baby - 'Our Baby' Fishman_Tx Construction, Maintenance & Refit 16 31-08-2009 12:46



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 02:06.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.