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Old 13-04-2015, 08:07   #121
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Re: 42' cat ketch ocean voyager $39.9k

I understand there were some legal/lawsuit problems attached to the boat. Have these been resolved?
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Old 13-04-2015, 10:36   #122
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Re: 42' cat ketch ocean voyager $39.9k

Hello, I am the owner of the boat and I will answer all of your questions.
First of all, the boat is located in Baltimore, MD.
Second, if you would like to get the $39,900 price, don't go through the broker on yachtworld. His price is $42,900, just reduced from $45,900.
I have dropped the boat down to $39,900 for a fast sale. I can do that because the past installment buyer defaulted on the installment contract and I retained the money he paid. So, i do not need to maximize the price. I would not have sold it so low if this were not the case. But it benefits me because I the buyer is paying for the discount.
There was never a lawsuit, but just a threat of one. The buyer hired a lawyer, then i had to hire a lawyer. Then the lawyers went round and round for about 10-14 days until reality set in. The buyers lawyer was asking all sorts of unreasonable demands so when i hired my lawyer, he set the buyers lawyer down to earth. Everyone learned that my contract was iron clad and if the buyer did not resume the contract, he would lose the boat. We gave him the legal redemption period but the buyer did not act on it. So, the redemption period is long gone - 8 weeks ago. There is no way he can regain possession even if he wanted to. And there is no benefit in him trying to recover any damages because he does not have any legal basis for that. It is all clearly spelled out in the contract what happens if he defaults. We have written proof that he defaulted and nullified the contract because his lawyer (and the marina) told us that they were abandoning the boat and returning possession to me. That was back in January. This is April now and not a peep from the buyer or buyers attorney. They seem to have lost interest in pursuing this. They have nothing to gain by going to court and much more to lose. The buyer would lose another 3k trying to take me to court to recover some money. The buyer doesn't want to lose more money so i think he dropped it.
The buyer never had title to the boat. Only a contract of possession. And then he gave up possession. So, there are no worries. The worst he can do now is to try to get some money back in small claims court. Good luck I say.
There are a few links to where the boat is, but if you email me at zz3k39@yahoo.com, i can send a pdf file with all the information. I will attach some pictures here, plus the list of cruising equipment valued at $42,900.
Interested buyers should act quickly. I already have three appointments to view the boat coming april 19th, 21st, and one not arranged yet. Gook luck.
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Old 13-04-2015, 16:18   #123
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Re: 42' cat ketch ocean voyager $39.9k

Some people can't be pleased no matter what you do.

One one hand you complain because you worry about the legal issues...then on the otherhand, when i offer a full explation, then you complain about that too!
Call me or the marina if you like. My number 443-240-5074, or Anchorage Marina slip A-38. Boat name: Tormalind
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Old 14-04-2015, 19:02   #124
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Re: Now here is a georgeous bluewater boat for $49k

I get people's concerns and feel for you! I guess this highlights the risks of selling on an installment plan. Good luck, she looks like a nice boat.

I think people could simply find a lawyer to confirm the title is clear, probably wouldn't be too onerous.


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Old 14-04-2015, 19:12   #125
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Re: 42' cat ketch ocean voyager $39.9k

Sounds sensible. It is riskier to sell on an installment contract. Just like Land Contracts are more risky than cash. Just like a Land Contract, the seller has to take the buyer to court to force them to move out. Luckily, the buyer vacated willingly. That saved me having to gt o to court. Just like a Land Contract, title is not transferred until the contract is paid off. Course, people can always call my attorney to prove title has not transferred.
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Old 16-04-2015, 06:17   #126
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Re: 42' cat ketch ocean voyager $39.9k

did you take care of the legal entanglements on boat where man you financed it to was suing you
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Old 16-04-2015, 06:28   #127
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Re: 42' cat ketch ocean voyager $39.9k

Quote:
Originally Posted by myclady View Post
did you take care of the legal entanglements on boat where man you financed it to was suing you
There was a very long post 4-5 posts ago that fully explains the situation. I was insulted for such a long explanation and don't care to repeat it again.
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Old 17-04-2015, 05:33   #128
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Re: 42' cat ketch ocean voyager $39.9k

I was told by attorney that lawsuit can affect title on boat at anytime and explained what you said about them not having a case he said not true that they do have a case and could proceed no matter who takes possession of boat leaving title in jeaopardy
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Old 17-04-2015, 08:17   #129
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Re: 42' cat ketch ocean voyager $39.9k

Hello "myclady".
For something to negatively impact my title, there would need to be a lawsuit. There is no lawsuit filed yet. 8 weeks ago, the buyers Atty threatened vessel arrest fearing we might move the boat and hide it. But we didn't move it because it was January and February and was cold with ice - to cold to go anywhere at that time. Then spring came and we didn't hear anything. No lawsuit was filed. A lawsuit has to be filed to have a vessel arrested. I could move the boat now, but dockage is cheap here so don't want to move it. Buyers Atty should file the case and arrest the vessel because now I could move the boat away, but they don't file. Why? Its because it costs 3000 dollars minimum to hire Atty and file the case. I do not think buyers want to file the case. Too much time has gone by. The obviously feel they would not win the case and don't waste to risk losing more money. If a case was going to be filed, it would have already be filed. The buyer is not fighting for title,,,how can he, he must pay the boat off to get title. Cheers.
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Old 17-04-2015, 08:33   #130
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Re: 42' cat ketch ocean voyager $39.9k

A potential buyer's financial risk may include that the previous buyers may claim a lien for "upgrades" they inflicted on your boat. Surely they have an interest of some kind, regardless of all your speculation. A new buyer might wind up embroiled in litigation to clear the title. How badly would someone need to want your boat, to rationalize that choice?
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Old 17-04-2015, 08:59   #131
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Re: 42' cat ketch ocean voyager $39.9k

I think ur barking up the wrong tree friend. There are no upgrades other than new led lighting and added 110v a/c system (secondhand). I can easily overcome that with damage he did to the boat. Then there is the fact that he took the dinghy and barbeque. Not to mention the fact that he had use of the boat for a year @ $3,000 per month charter fee. I told his Atty to compensate me $20,000 fee for charter fee. His equity does not cover the charter fee, please remit $20,000 asap. His Atty never replied to that.
Sure the buyers have an interest and had plenty of opportunity to redeem the vessel. We gave them redemption notice. They let it expire. They have no interest in getting the boat anymore and they have no case in court. My contract is too strong and there is no recovery of money/equity paid. That is in the contract. If they felt they had a chance at anything, I think they would have attempted it last winter. They have not even attempted filing yet. Do you really think they will cone back 6-12 months later and file a lawsuit?
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Old 17-04-2015, 09:51   #132
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Re: 42' cat ketch ocean voyager $39.9k

Quote:
Originally Posted by Terra Nova View Post
A potential buyer's financial risk may include that the previous buyers may claim a lien for "upgrades" they inflicted on your boat. Surely they have an interest of some kind, regardless of all your speculation. A new buyer might wind up embroiled in litigation to clear the title. How badly would someone need to want your boat, to rationalize that choice?
We once bought a stolen boat that came with a legit title. When we went to recoup some of our money we were told we weren't due any compensation for upgrades as the boat was stolen and never legally owned by us. It may be possible that the people buying the Lavranos never had legal title to the boat so they have no case to file a lien for upgrades.
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Old 17-04-2015, 10:06   #133
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Re: 42' cat ketch ocean voyager $39.9k

Quote:
Originally Posted by Ronald Rogala View Post
I think ur barking up the wrong tree friend. There are no upgrades other than new led lighting and added 110v a/c system (secondhand). I can easily overcome that with damage he did to the boat. Then there is the fact that he took the dinghy and barbeque. Not to mention the fact that he had use of the boat for a year @ $3,000 per month charter fee. I told his Atty to compensate me $20,000 fee for charter fee. His equity does not cover the charter fee, please remit $20,000 asap. His Atty never replied to that.
Sure the buyers have an interest and had plenty of opportunity to redeem the vessel. We gave them redemption notice. They let it expire. They have no interest in getting the boat anymore and they have no case in court. My contract is too strong and there is no recovery of money/equity paid. That is in the contract. If they felt they had a chance at anything, I think they would have attempted it last winter. They have not even attempted filing yet. Do you really think they will cone back 6-12 months later and file a lawsuit?
Ron,

I am afraid you are between a rock and a hard spot. Everything you say and believe may be correct but you needed to go to court in order to judicate the repossession and default by the buyer. The prior buyer having a copy of a contract leaves an aura of concern about good title.
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Old 17-04-2015, 10:28   #134
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Re: 42' cat ketch ocean voyager $39.9k

I concur captain, real dilemma eh?
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Old 17-04-2015, 13:11   #135
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Re: 42' cat ketch ocean voyager $39.9k

OK, I finally contacted my maritime attty to comment on some of these claims and worries you guys are expressing here. So, I emailed him and gave him a few of your comments and this was his reply:

Mr. Rogala,
"This goes back to an earlier discussion you and I had on the subject- there is no agreement in place with Lochner's client, and you remain the sole title owner. There is no obligation to disclose the allegations exchanged with Lochner, for the very reasons you now cite. It is your boat to sell. It would have been nice to have the express cooperation by way of a written agreement, but you folks couldn't agree on the numbers.

And the risk of a lawsuit by Lochner's client against a new purchaser is lessened or eliminated if you follow through on your promise to pay them any sums above your "loan," and the costs of this sale.

But there is no lien in place, and no claims asserted for an equitable ingterest that would impair your sale of the vessel. After sale, there remains risk that you can ameliorate, but not eliminate. Upon sale of the boat, for instance, I think it is more likely that you get sued for some portion of the proceeds of sale. There is no practical reason for Lochner to involve the new owners.

And what "upgrades?" Perhaps they wanted to create an in-board swimming pool in your bilge?

My thoughts.

TCV"
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