I think Thunder32 may be the one that would know what is going on based on these threads.

http://www.offshoreonly.com/forums/s...ighlight=33avh

http://www.offshoreonly.com/forums/s...ighlight=33avh

Pictures on Post 39-44 on this thread

http://www.offshoreonly.com/forums/s...ighlight=33avh

But then again, I know nothing of the situation with this boat or builder. Any inferences as such will be categorically denied based on lack of real knowledge concerning the situation herein described as"The 33AVH".
Thank you for your understanding

Kevin you little thread whore Thunder 32, could you explain how the process works when getting a loan from a bank, and how payments go out to the builder, thanks Jeff

What the heck did Kevin say???

Thunder32,
When we bought our 37. We did similar to what Jeff layout. Progress payments.

No problem Jassman.....
when my builder built my house in VA, we made a deposit before the start, and paid nothing until closing
when the house was finished. The draw system you refered to above is used by some builders that do not have the cash or credit when building a custom home, so they work on such a draw system with the banks so they may (and hopefully) pay their subcontactors, as they must sign lien releases.
I was forturnate enough to do my homework and deal with a good local builder that has alot of equity and reserve cash flow. All he needed was a deposit and certified letter from the initial mortgage company.

As for the boat issue, Pat built me a 2000 32' AT in which I traded a 26' Velocity in on. I aquired a loan for the balance of the deal, made a deposit on the new boat, and waited for it to be built. When the boat was completed, I contacted my lender, and they in turn wired the monies to Active Thunder. Deal done. They would not release any funds for a boat that was not complete and documented for lien purposes. Most of us do not have say $150K or more in our checking accounts to work on your draw system, or would I. I have seen to many horror stories on this system when building a boat. And I believe their are multiple treads on various builders about this. The most recent I believe was Powerplay. They build a fantastic boat, but I would not work on a draw system with them due to their financial situation right now. Bottom line is everyone purchases boats differently by cash or credit, and when credit is concerned, no bank that I have delt with will work on a draw system with a boat builder. I will be glad to fax you loan notification form that I am referring to for your info. and by the way, great looking Nor-tech .

That is simple smart business, progress payments...We do the same thing on most of our renovation/pool build projects.

Maybe I need to look into this progress payments....
I could be wrong on my whole approach, and if I am I am sorry if I offended anyone

I am not sure what I said and I categorically deny saying it

Thunder32.....is the 33AVH on the floor at AT your boat or not

Have you noticed since H2O moved to the hills he's been in denial.....?

all i know is my buddy just bought a new 38 top gun 80 k down balance when boat was done and we inspected it and sea trialed it then he knew what he was paying for. you want to sell a new model of a boat you need to have one ready to sell if the boat was done it would sell itself and then others would have one to actually get info on from the 1st owner. rather than wait to se how it turns out after your money is spent, thats why business have a line of credit to build now sell later. thats my o2 and how i do business and do well.