 |
|
11-06-2008, 23:49
|
#16
|
Registered User
Join Date: Apr 2007
Location: SF Bay Area, CA, USA
Boat: Privilege 39
Posts: 664
|
I know that marina's around here frequently do lien sales. I know a couple of people that have picked up boats that way - though to be fair all the people I know who've bought them had to put a fair bit of money and time into them - by the time they become lien sales they seem to be 5-10 years out of any sort of maintenance...
|
|
|
15-09-2008, 18:35
|
#17
|
Registered User
Join Date: Jan 2006
Location: East Coast of America and Keys
Boat: Beneteau 473
Posts: 467
|
I bought a boat in a lien sale in California. When I talked to the loan officer and discussed the situation and what I was planning to pay she had no problem buying the boat but warned me the paperwork might take awhile to get sorted out. She wasn't wrong. It took months before the title was released by the previous bank that held the note.
I bought a repo in Connecticut and in that case the broker took offers on the boats and then forwarded them to the bank. I surveyed the boat I wanted myself and ultimately made a very low offer. The broker initially refused to send it forward. My persistence paid off though and I paid half the asking price. The broker didn't ask for it and really didn't want the survey but I typed up a list of findings to support my low offer and gave it to him anyway.
That title also took longer than I would have expected to arrive.
|
|
|
17-09-2008, 16:04
|
#18
|
Eternal Member
Join Date: Aug 2006
Location: North of Baltimore
Boat: Ericson 27 & 18' Herrmann Catboat
Posts: 3,798
|
You probbly aren't going to find any good deals in Fort Liquordale......They realize they can get top dollar as most of the boats are going to Europe.
|
|
|
19-09-2010, 06:12
|
#19
|
Registered User
Join Date: Jul 2010
Posts: 11
|
Any good deals in California? Anyone have any contacts for lien sale?
Thanks
|
|
|
19-09-2010, 07:47
|
#20
|
Registered User
Join Date: Sep 2010
Location: georgetown sc
Boat: gulfstar 41 aux jenny lynn
Posts: 135
|
be careful
Quote:
Originally Posted by knottybuoyz
You also have to be somewhat careful of these boats if the PO had known it was going to be repo'd, they would have put off most if not all maintenance and drove the sh*t out of it once the writing was on the wall. I've read some horror stories where this has lead to major repair bills for hidden damage caused by deferred maintenance. A good survey is always the best course of action. Clear title is again the other concern.
|
A friend lost his boat to the bank a very nice wood ketch he stayed behind on payments and let it get run down would'nt do any maintenance he stayed in the bar all the time rather than getting a bottle and going home dropping $150.00-$200.00 a day there I felt sorry for him for a while and tried to talk to him but he knew everything I lost respect for him the way he treated his boat he never changed the oil a new yanmar and you talk about smoke when he would fire it up and go for a spin around the island to charge batteries you couldnt see the boat also he would leave the ports and hatches open and let it get rained in what a shame he knew he was loosing it so he did'nt care.
|
|
|
19-09-2010, 12:45
|
#21
|
Registered User
Join Date: May 2009
Location: Panama
Boat: Steel trawler 63' Eileen Farrell
Posts: 961
|
We got a 63 ft steel shrimp boat for 32k with a 12/71 engine and a 2/71 gen set and 6k in fuel ready to fish. Took a year and a half to convert it to a trawler/ houseboat and another 200k but we are happy. Been on it now for a year.
|
|
|
19-09-2010, 17:07
|
#22
|
Registered User
Join Date: Mar 2006
Location: San Francisco, CA
Boat: Nordship 40ds
Posts: 3,865
|
Randy have you tried registering the MG in a different state?
__________________
Fair Winds,
Charlie
Between us there was, as I have already said somewhere, the bond of the sea. Besides holding our hearts together through long periods of separation, it had the effect of making us tolerant of each other's yarns -- and even convictions. Heart of Darkness
Joseph Conrad
|
|
|
25-06-2011, 03:48
|
#23
|
Registered User
Join Date: Apr 2006
Location: Muscat, Oman
Boat: Roberts, C45 Spray - EDM
Posts: 84
|
Re: Repo and Foreclosure Boats
Just had a look at the site.... It did not look to be filled with "wow I must have that"
43' - 2005 Beneteau Sailboat STOCK # 25505 - a mere $144,000 !!!!
What !!!
A quick look on YBW yields something similar (in age, manufacturer etc) at 79K Pounds (aprox $140K) BENETEAU CYCLADES 43.4 for sale on YBW.com boats for sale
So why have the problems with title ?
Or is this some clever MBA front end slapped over a Yacht Brokers web site ??
Interesting to browse though.
|
|
|
25-06-2011, 03:59
|
#24
|
Senior Cruiser

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 51,768
|
Re: Repo and Foreclosure Boats
Greetings and welcome aboard the CF, psyleflockhart.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"
|
|
|
25-06-2011, 07:08
|
#25
|
Registered User
Join Date: Aug 2007
Location: Clear Lake Marine Services - Seabrook, Texas
Boat: Gulfstar, Mark II Ketch, 43'
Posts: 2,359
|
Re: Repo and Foreclosure Boats
Another thing to look into are abandoned boats at marinas. Most will be abuse by not being used. 25' Catalina went for $975 a year ago at one on the local marinas last year.
__________________
Formerly Santana
The winds blow true,The skies stay blue,
Everyday is a good day for SAILING!!!!
|
|
|
29-09-2013, 06:12
|
#26
|
Registered User
Join Date: Apr 2009
Location: Canada or Spain
Boat: Jeanneau SO 43 DS
Posts: 1,159
|
Re: Repo and Foreclosure Boats
Let me revive this thread, as I'm looking at doing exactly what the last poster mentioned, in Spain. It's a 2002 model, last used in 2006. The marina has just been awarded ownership of it thru the courts for non-payment of moorage fees. We'll have to put some money into her to bring her back but it should still be worth it. We are dealing thru a reputable broker.
Is anyone aware of any legal catches to be aware of? We would get clear title & proof of tax paid.
__________________
Prairie Chicken
><((((º>`·.¸¸.·´¯`·.¸.·´¯`·...¸><((((º>¸.
`·.¸¸.·´¯`·.¸.·´¯`·...¸><((((º>`·.¸¸.·´¯`·.¸.·´¯`· ...¸><((((º>
|
|
|
30-09-2013, 09:53
|
#27
|
cat herder, extreme blacksheep
Join Date: Jul 2008
Location: furycame alley , tropics, mexico for now
Boat: 1976 FORMOSA yankee clipper 41
Posts: 18,967
|
Re: Repo and Foreclosure Boats
have a title search service document the boat and search for old liens. there is a special form fro releasing liens. youneed it fro all liens on boat. good luck...dona jenkins is online and will answer questions and assist in this, as it is their job to do this part for us. is a lil pricey but it is your boat in question and future with it.
|
|
|
30-09-2013, 17:58
|
#28
|
Registered User
Join Date: Apr 2011
Posts: 195
|
Re: Repo and Foreclosure Boats
be ...very ....very careful.
great deals and great expensive liabilitys to be found.
Only a shark should be swimming with sharks.
Worked as an investigator for many years and found some good honest deals and helped some minnows who got screwed.
Go in with your eyes wide open and solicit advice from wise people and never think that a deal is to good to be true....
so keep your cards close to your chest and be wise and carry lots of moxy or get a hired gun.
Cheers
|
|
|
05-10-2013, 23:57
|
#29
|
Registered User
Join Date: Apr 2009
Location: Canada or Spain
Boat: Jeanneau SO 43 DS
Posts: 1,159
|
Re: Repo and Foreclosure Boats
Tx. We are proceeding [I]very, very carefully[I]! The lawyers assure us she will come with clear title. So far all seems positive but we won't know until we've bought her how much will be required to bring the boat back. Still, all major systems have checked out to date with necessary work being flushing systems, fabric, & cosmetic. Wish us luck!
__________________
Prairie Chicken
><((((º>`·.¸¸.·´¯`·.¸.·´¯`·...¸><((((º>¸.
`·.¸¸.·´¯`·.¸.·´¯`·...¸><((((º>`·.¸¸.·´¯`·.¸.·´¯`· ...¸><((((º>
|
|
|
 |
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Rate This Thread |
Linear Mode
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
Advertise Here
Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
Vendor Spotlight |
|
|