Buyer Beware - SailNet Community
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post #1 of 22 Old 04-28-2014 Thread Starter
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Thumbs down Buyer Beware

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Last edited by PIP; 04-30-2014 at 07:00 PM.
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post #2 of 22 Old 04-29-2014
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Re: Buyer Beware

OK PIP, exactly what "experiences" did you have to make you say such things? You said you were going to share them, but I see nothing shared. We would rather have heard examples of how they were "dishonest, deceitful and outright untrustworthy." What happened to you?
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post #3 of 22 Old 04-29-2014
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Re: Buyer Beware

What's fractional yachting? Where you split ownership with several other people? In this case strangers?


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post #4 of 22 Old 04-29-2014
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Re: Buyer Beware

This is a remarkably vague complaint.

Do or do not... There is no try.
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post #5 of 22 Old 04-29-2014
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Re: Buyer Beware

Dressed down its good advice. Think through what you are doing before jumping in; read the contract closely and perhaps get legal advice.
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post #6 of 22 Old 04-29-2014
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Re: Buyer Beware

Quote:
Originally Posted by Slayer View Post
Dressed down its good advice. Think through what you are doing before jumping in; read the contract closely and perhaps get legal advice.
When I used to work in a financial fraud unit, 30 years ago, we spent a lot of time on fractional camping site scams. Amazingly, they are still as prevalent as they were back then.

The fractional boat thing has a remarkably similar sound to it.

On the northern Gulf of Mexico.


"Best thing to do is get her out on the ocean. If anything's gonna happen, it's gonna happen out there." Captain Ron Rico
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post #7 of 22 Old 04-29-2014
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Re: Buyer Beware

One ship, one master.
That's the solution.
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1973 Pearson 30 #255
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post #8 of 22 Old 04-29-2014
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Re: Buyer Beware

I've been involved in litigation involving fractional ownership of high end vacation properties. Usually, when you buy a fractional share, you also sign a management agreement wherein all the fractional owners pay substantial management fees to a management company (usually some spin-off from the original property seller), designed to generate continued cash flow for the seller/manager, or the right to foreclose on the ownership interest if fees are not paid. Often it's very hard to understand exactly what those management fees will be due to complex wording and formulas, but that's typically where the disputes arise between fractional ownership sellers/managers and buyers.
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post #9 of 22 Old 04-29-2014
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Re: Buyer Beware

Der aint no free lunch...

Ifinit sounds too good ta be tru, prolly aint...

Aint nobody der ta hep ya...
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post #10 of 22 Old 04-29-2014
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Re: Buyer Beware

Hey PIP....
You really should elaborate
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