When Building a Boat
 

My question is how payments to the builder are handled? What do most people give for a down payment and then what payments are made during construction.

I Believe Skater Is 4 Payments, Thats What I Was Told When I Was Looking At Building A 368.

Usually 3 or 4 payments at various milestones. I've seen: 30% at commission, 30% when hull is complete, 30% when motors go in, 10% at delivery.

I am building a new Nor-Tech 390 Sport now. Small deposit for the build slot, 1/3 when it goes in the mold, 1/3 at rigging balance on delivery.

Erik

Thank you, I hope to look at a CC next week and I'll see what they'll want.

Have a 340 Sport for sale, just sayin'.......LOL

Thanks, unfortunately my budget is under $200 with a trailer and all the newer NT are over that, they are a beautiful boat. My garage is 40' deep and I think I'll be limited to around 32' or 33' with the trailer.

What brands are you checking out? I was looking in that same range length and price and was looking at 30-32 concept or 32 Sunsation, which is actually out of my price range but so nice. I would love a Nortech but out of range for me as well.

Mine was 25% to secure contract, 25% when out of mold, 25% when motors arrive, 25% on delivery. I don't know how you would go about financing under these terms? Will a bank loan you the full amount on a boat that is not built yet?