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Thread: bank repo sites

  1. #11
    Registered Chris L's Avatar
    My Boats:
    79 Old Town Canoe 2 seater
    Join Date
    Jan 2004
    Albion PA.

    Re: bank repo sites

    I am the repo man The majority of the boats we repo never make it to any auction. The true banks are the ones that want the big $$$ for what is left of a boat we pick up. Most of the bank repos are assigned to a broker that more often than not, buys the boat and makes the repairs, then boat is back on the market.The credit unions are great they put the boat right out front, take bids on it for about two weeks. The high bidder takes it home. Simple

  2. #12
    Registered RedDog382's Avatar
    My Boats:
    '99 Formula 382 Poker Run Special/'05 Formula 260 SS
    Join Date
    Sep 2003
    Toledo, Ohio/Las Vegas, NV

    Re: bank repo sites

    Pier 75/Brenner Marine in Toledo has been doing some repo work for a large bank. They have a 12 ICBM Fountain and a 38 Fountain Sportcruiser with extra fuel tank, flood lights, 540 bulldogs in now. 419-691-6148

  3. #13
    Registered dreamer's Avatar
    My Boats:
    boatless... with money in the bank!!
    Join Date
    Mar 2002

    Re: bank repo sites

    hey... i made 10k on a repo boat and that was after using it for half the summer!!!

    i guess yachtauctions is the best then

  4. #14
    Registered dawiz74's Avatar
    My Boats:
    95' Formula 271
    Join Date
    Nov 2003
    springfield, MO

    Re: bank repo sites

    My sister and brother-in-law bought their 40ft SeaRay Sundancer from National Liquidators last winter. They had to put about $15,000 into the boat to get it where it is now, but they bought the boat anticipating that. That included new bottom paint, wet sanding the whole boat, some canvas pieces, etc, etc. Also, National Liquidators got them a better interest rate than anyone else. The only "complaint" they had was the boat was originaly from Grand Lake OK and got shipped to Ft. Lauderdale about 2 months before they bought it. We live about 2hrs from Grand, so they could have saved about 4 grand in transporting the boat! I guess all I meant to say was they had a real good experience with them.

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