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Old 10-09-2012
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Re: Im buying a big boat! But i have never sailed

I think you're putting yourself in a bit of an awkward position... however nice the boat may be, the valuation is suspect, ferrocement can be difficult to insure. It's tough to get into a deal with a 'friend' or relatives of a friend, and avoid paying too much or buying into something that might not be appropriate. How long has the boat been ashore now?

50K (Dollars?? or Pounds??) is a chunk of change that will buy a lot of (perhaps other) boat..... just sayin'.....
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