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Old 02-22-2008
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SailorMitch SailorMitch is offline
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Quote:
Originally Posted by labatt View Post
Generally, if you are getting a significant loan to pay for the vessel, the loan company will require you to go through their people to transfer the documentation. When we were looking to buy a Hallberg-Rassy 53 recently, we talked to 8 different brokers. For the amount we were borrowing, every one of them required that we go through their people for the transfer - period. I'm generally pretty good at negotiating, and there was no bargaining here...
Yep, they are in control of the transaction as it were and really want that extra money in their pockets. Pure greed, but they can get away with it in this situation.
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