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![]() Where to Locate Repossessed Boats for SaleBy Arran James If in the market for a new watercraft, but not too keen on the cost of a brand new model, most boat-owners will look towards the thriving second hand market. An alternative to that, and one that's often over looked, is that of repossessed boats for sale. These repo boats often offer a tremendous opportunity to pick-up a boat at a knocked-down price. Repossessed boats are effectively objects that are seized by a bank or other financial institution from its owner due to non-payment of a loan and after reaching the default status. Other reasons for a boat to be seized include those used in an illegal activity, such as smuggling contraband, or to be detained by the IRS due to tax evasion or related issues. Locating repossessed boats for sale or on auction isn't that difficult, as there's a variety of companies that deal specifically in this business. Auctions include crafts of all shapes and sizes - those at the smaller end of the market, such as the wave runners, fishing boats, and runabouts to the larger sailboats and power-crafts and up to the mega yacht. The inventory for these auctions often includes bank repossessions, foreclosures, and government seized vessels. Even with the benefit of a substantial saving in mind, be cautious when looking at repossessions, as once the owner knows or expects the vessel to be seized by the lender, the care and attention to the vessel is going to be neglected, maintenance is likely to be ignored, and the craft is often going to be run ragged. Repossessed boats for sale can be located to suit most budgets and requirements – it's just a matter of finding that perfect watercraft. If you're interested in getting a more detailed look at Repossessed Boats for Sale , including a variety of boating tips and ideas, take a look at http://www.RecreationalWatercraft.com Article Source: http://EzineArticles.com/?expert=Arran_James | | | ©American Sailing 2024 | |
Introducing the 2002 Silverton 352, recently affected by water intrusion up to the cabin flooring due to an open thru hull fitting during season launch.
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When looking to buy a reliable boat that won’t burn a hole in your pocket, you can always count on online boat auctions featuring repossessed boats for sale. But proceed with caution. To get a great deal at online boat auctions , make sure you are clear about your needs and the buying process. Even before these two concerns, an important prerequisite that should be covered is your understanding of repossessed boats. Read on to learn all you need to know about repossessed boats.
The term ‘repossessed’ means that the boat was seized by the bank or any other lender due to the owner’s inability to repay the loan taken out to finance the boat’s purchase. Some repossessed boats might be seized by law enforcement agencies after they are found in illegal activity such as poaching, are bought through unlawful brokerage, or are seized due to non-payment of IRS debts. Boats like that are sold at online auction websites such as Salvagebid.com and can go for unbelievably low prices.
It’s simple. Make a list of all the key parameters. The list should include:
Based on these factors, you can explore the repossessed boats for sale featured in our online boat auctions. You can use various search filters and sorting options to speed up the process.
Once you have shortlisted a few options, check their history, and book an appointment to inspect their condition. As inspection is an essential part of the process, make sure the yard is near you. If it isn’t, you can hire a 3rd party service to inspect the boat for you.
After inspection, you can start bidding on your shortlisted options and bring your dream boat home without going over budget
The most important aspect before entering a bid at an online boat auction is deciding your budget and maximum bid. Keep in mind that, besides the final purchase price, you may also have to invest is repairs and/or maintenance to get your boat ready to hit the water. You’ll have to factor in insurance and transportation costs. By adding up all the additional costs, you’ll be able to decide your maximum bidding price. When in doubt about transportation costs, you can get an estimate using EasyHaul’s online calculator . Once you’ve got these covered, you know your maximum bid limit and can take decisions accordingly.
For those who love the idea of sailing in their own boat or have business requirements, but are on a budget, bidding on repossessed boats for sale is a great option. To participate in our online boat auction, all you need to do is register with us to start bidding in a few simple steps. If you have any questions or would like to know more about the repossessed boats for sale in our inventory, talk to our experts at +1 (360) 347-1300 . You can also send us a message and we will take it from there.
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Salvagebid Customer Service: +1 (360) 347-1300 Monday - Friday 6am - 3pm, Pacific Standard Time Salvagebid 700 N Hayden Island Drive Suite 274, Portland, OR 97217 USA
17 October 2015
Allied Yachting develops its repossessed boats and distressed yachts program mainly in Europe and works with various European Banks and other Financial Institutions. For knowledgeable yachtsmen, these are often excellent deals to purchase a yacht .
Since 2008 Europe is submerged in a difficult economical downfall called the “Eurozone Crisis”, which has particularly affected the yachting industry. Our company has been in permanent contact with selected banks, leasing companies, law firms and private corporations or individuals who have become trustees of illiquid assets. These Sellers work with us in order to find the most effective way to sell seized, repossessed and distressed yachts.
Our program is not limited to bank repos, it also presents opportunities from leasing and other financial institutions, private owners urged to sell and boats in stock.
Bank repossessed boats and distressed boats may frequently be neglected and in questionable aesthetic and technical condition. Indeed, when dealing with such inventory, you are generally negotiating with bankers, accountants or lawyers who don’t want to spend more money in the vessel(s) they’ve just seized or reclaimed.
Generally, this type of transaction also presents complex formalities, legal and tax implications which we’re very efficient in solving. In most cases, this is different from private sellers urged to sell or boats in stock, where you have someone who understands yachting in front of you. Normally, this type of purchase is “as-is; where-is”.
We receive quarterly lists of inventory which provide great opportunities to our clients as they’re informed first-hand about emerging deals.
Our main objective at Allied Yachting is to benefit the buyer and the seller, seeking always the best deal for both parties, and mostly by assuring a safe transaction and managing all the appropriate paperwork and formalities involved in buying or selling a bank repo or distressed boat.
In short, a comprehensive program for the whole process of purchasing or selling a financially distressed vessel.
While we recommend the use of the Mediterranean Yacht Brokers Association Memorandum of Agreement (MYBA MoA), some institutions may ask their counsel to prepare and submit an alternative contract.
Allied Yachting provides an escrow account for clients’ funds and ensures that at closing, as stakeholders, any existing loan or other encumbrances are paid off, as well as the fees of other parties involved in the transaction. This safeguard is of especially critical importance to the buyer and seller and can be a potentially serious hazard in a transaction like this.
Some financial institutions may prefer to use an independent Law Firm or Notary Public as an escrow agent.
The buyer is responsible for the appointment and payment of a qualified marine surveyor to inspect the boat.
A sea-trial, also borne by the buyer, is necessary as the yacht may have been immobilized for a significant period of time. The costs involved in survey and sea-trial are generally the manoeuvres of bringing the yacht ashore and back into the water, fuel, crew and sometimes careening, antifouling and anodes, so the boat performs adequately.
The surveyor’s report will generally be determining whether the sale proceeds or not.
Most of this inventory is generally Ex-VAT and Allied Yachting can provide all the necessary tax and legal solutions to acquire this kind of marine inventory.
Many yacht Sellers may also decide to liquidate a marine inventory through boat auctions.
Whilst these auctions are open to the public and retail buyers as well as nautical professionals, they don’t happen very often.
Some auctions occur yearly on the French Riviera in Cannes and Antibes. Other auctions are also held in Italy, Spain and Great Britain.
Even if the nautical sector is picking up in Europe, contact Allied Yachting to have an update on repossessed boats for sales, distressed yachts for sale and the following auctions!
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T.: +33 493 43 82 83 Email: [email protected] Website: www.alliedyachting.com
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On this page you will see an index of organizations within Idaho which may have bank repo cars for sale, foreclosed homes, repossessed land, mobile homes, and perhaps watercraft. Banks and credit unions around Boise, Nampa, along with other cities offer excellent deals for investors who are curious. As the banking institutions are generally not in the real estate investment and automotive industries, they may be willing to sell off any given repo property or home at discounted prices to recoup money lost on their loans. Note that the procedure for selecting repo property will vary based on the guidelines of the lending institution.
Idaho Repossession Buying Information:
The State of Idaho has several banks and credit unions that sell repossessions directly to the public. Buying an Idaho bank repo is a pretty basic endeavor. Shopping via RepoFinder will link potential buyers to an array of Idaho banks that sell repossessed cars, trucks, motorcycles, RV’s, ATV’s, and real estate. Each repossessions will have a set asking price. Buyers can make an offer or submit a bid according to what they’re willing to pay for the Idaho bank owned property. The bank can then either approve or deny you offer. If you are fortunate to be the high bidder then the bank will walk you through the rest of the purchase process. Several of the Idaho banks selling real estate will also be able to help you with the purchase contracts if you don’t have an agent.
General Repossession Buying Information:
As a rule of thumb, it’s always a good idea to inspect any bank repo that you plan to buy. Banks will have no problem letting you inspect the reclaimed asset prior to making an offer. Buyers may want to have a trained mechanic or other person with the expertise required to inspect a repossessed vehicle for any defects of maintenance that may have been deferred. When buying repo’s also realize that everything is sold as-is. Ultimately you’ll be responsible for any mechanical failure unless the repossession still has the original warranty in place. If needed the banks can also help with financing a repo and may even have special interest rates if you go down that course.
Types of Repossessions in Idaho: Idaho’s repo page is a free list of bank and credit union repossession sales featuring items such as cars, trucks, ATV’s, RV’s, boats, motorcycles, real estate, and more.
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Repossessed boats for sale in new jersey.
Search and find boats and yachts in New Jersey well below market prices. View the latest used and repo or repossessed boats and yachts for sale by make and model for amazing savings. In some cases, up to 50% or more on the listed price!
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The Worlds Largest Marine Liquidation Company. National Liquidators and National Yacht Sales have handled over 40,000 cases since 1988. Our inventories include bank repossessions, foreclosures, government-seized vessels and a vast inventory of brokerage boats. We maintain an experienced staff at our facilities in Fort Lauderdale, Florida ...
Search and find boats and yachts well below market prices. View the latest used and repo or repossessed boats and yachts for sale by make and model for amazing savings. In some cases, up to 50% or more on the listed price! Filter results. 1.
United States Marshals Service Sale - 2022 Schaefer 400 Sport - Stk# 39984: $336,000.00 #39984
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If you have any questions about the bidding process or any of the wrecked boats for sale in our inventory, simply call +1 (503) 298-4300. Damaged and Salvage Boats for Sale in online Auctions: Buy clean, salvage title, hail damaged, and repossessed Boats for sale online, directly at Salvagebid.
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Yacht Salvage. Rhode Island: (401) 732-6300 Massachusetts: (508) 478-0200 South Carolina: (843) 563-9199. Visit the Contact page for complete details.
Locating repossessed boats for sale or on auction isn't that difficult, as there's a variety of companies that deal specifically in this business. Auctions include crafts of all shapes and sizes - those at the smaller end of the market, such as the wave runners, fishing boats, and runabouts to the larger sailboats and power-crafts and up to the ...
Yacht Salvage. Rhode Island: (401) 732-6300 Massachusetts: (508) 478-0200 South Carolina: (843) 563-9199. Visit the Contact page for complete details.
Search and find boats and yachts in Ohio well below market prices. View the latest used and repo or repossessed boats and yachts for sale by make and model for amazing savings. In some cases, up to 50% or more on the listed price! Filter results. 1.
U.S. Treasury auctions - property forfeited by owners for tax evasion or other violations of Treasury law. Aircraft may be small planes, business jets, or helicopters. Boats include cabin cruisers, sailboats, and yachts. U.S. Marshals Service auctions - various items seized by Department of Justice agencies and other federal agencies.
To participate in our online boat auction, all you need to do is register with us to start bidding in a few simple steps. If you have any questions or would like to know more about the repossessed boats for sale in our inventory, talk to our experts at +1 (360) 347-1300. You can also send us a message and we will take it from there.
Even if the nautical sector is picking up in Europe, contact Allied Yachting to have an update on repossessed boats for sales, distressed yachts for sale and the following auctions! Selected Repossessed Boats for Sale. Magic Yachts Jamadhar 100 Catamaran (2014) Mangusta 72 Open (2005)
Search and find boats and yachts in Washington well below market prices. View the latest used and repo or repossessed boats and yachts for sale by make and model for amazing savings. In some cases, up to 50% or more on the listed price! Filter results.
If needed the banks can also help with financing a repo and may even have special interest rates if you go down that course. Types of Repossessions in Idaho: Idaho's repo page is a free list of bank and credit union repossession sales featuring items such as cars, trucks, ATV's, RV's, boats, motorcycles, real estate, and more.
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