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Go Back   SailNet Community > General Interest Forums > Boat Review and Purchase Forum > Boat Buyers & Sellers Forum
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Old 01-19-2013
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private seller?

Want to buy a 30' + sloop. Want good condition, $30- $40K range Can pay $800 pr month. Esperanza.ranch@hotmail.com
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Old 01-19-2013
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Re: private seller?

Wishing you a warm welcome to sailnet! (We are not elitists in any sense of the term, just ordinary salt of the earth types.)

You are making an interesting offer. Other critically important terms to a request for seller financing would be term in months, amortization, down payment, and colleteral.

How much are you willing to put down? 10%, 25%, 50%?

We talking fully amortized with level payment, or balloon?

Will this be secured only by an interest in the boat? How about a mortgage on your home?

How about a installment sales contract where the seller retains title, you get possession as long as you make payments, and only after you have made all the required payments will title be transferred to you? In the event of a default that is not timely cured, seller keeps boat, you are out all the payments.

Finally, the big Elephant in the room - why can't you obtain institutional financing?

Have you done a search on yachtworld for "seller financing" or "owner financing" or "take back note" or "installment sale"? You probably will not find the creme of the crop.

Last edited by jameswilson29; 01-19-2013 at 08:01 AM.
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Old 01-19-2013
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Re: private seller?

We don't know anything about the OP. He may be a complete newbie that thinks sellers typically finance the boats they sell.
A little more info would be nice like how and where he plans to use the boat, amenities needed, how many people will usually be on board, occasional overnighter, weeks at a time or full time live aboard. Cruising, racing or a combination of the two.
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Old 01-19-2013
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private seller?

Ok, here is the info, we have sailed to many places in the south Pacicic out of Vancouver on a Fraser 41. We are retired in Greece now very close to Kefelonia, etc. we have an ancient apartment here that's clear title that can be used as default guarantee. We cannot get a loan, period, as the banks are not lending money. Although we would like something reasonably nice, I don't expect to end up with a Swan. As far as sailing experience goes we have more salt under our armpits than I would say most people have under their feet, no exaggeration just a fact. Down payment would be determined by the amount of the boat cost. Can also give security against US land titles we have. Tag, your it.
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Seller retention of title until fully paid for would be expected, we would use the boat in the region we purchased it from, regardless of location or country. Storage, maintenance, insurance we would look after of coarse. Not interested in racing, only cruising 3-4 months per year. Tied up and warf ratting ok until paid in full. Want decent cruising hardware, no junk, decent sails, furler, sprayhood, bimini, good auto pilot, electronics, no blisters or hull, deck separation problems or compression post issues and engine. If it stinks and is a leaker we are not interested. Ample storage for cruising would be an asset. We are familiar with long distance cruising but don't expect to get SSB, wind vane, solar and wind generators but if the boat, price, and amounts are favourable for both parties we would entertain the offer.
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