As it was not with a boat but on a a condo project my company was completing . I personally financed one homeowner because they couldn't get financing.
I wish I hadn't done it now, the customers are already 3 months behind since August of 2008. I cant say people hadn't told me so!
Its a hard time to find people willing to give up their hard earned $ and the Banksters are all running scared as well.
It will turn around eventually it always does.
Agree on a price and take a non-refundable deposit of $2000 down and a balance due in May or when the buyer says he can pay and than he can pick it up .Stay in touch, tell him to keep you informed of any changes and go from there.
I have bought boats this way and sold this way.Long as your not a Azz like the Donger things will work out.
He sounds like he wants the boat and understands your uncertainess about the loan.So you keeping the boat till it is paid for does not sound like a problem.
Plus a sale in May is better than no sale.
I would be willing to do that. It might help with the sale of it..
Doesn't any one have a1967 - 1970 camaro Z28 they want to trade me for it?? Or an older Street rod complete..
Title for Title. Done... I am rolling and they are Floating!!
Thanks again everyone.. This may still not be over for me yet!!
I have purchased boats from owners and builders,most bad apples float to the top.
I think holding the title and registration does mean you still own the boat and you have 6K to hold.Sell the boat and protect yourself in the bill of sale,you seem like a nice guy and Scott will come through.
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