To bad, I think that would have been a cool project. Certainly some risk involved, but for the right price....I'd still leave your contact information. I mean they have to realize making payments on that thing are outright stupid, or you would think...

Yea man for sure.
It ain't going no where it's sitting in my buddies barn he's helping her sell it. Kind of a weird situation.
If you owe that much on something why do you let it sit like that. I told her the interior needs 10k and she says I redid the interior once my self it's not that hard blah blah. I'm hoping it will sit there 6 more months and by then begging me for 5k lol

Unless 250ekelly has other info, my guess is................

The boat's been sitting for a long time, payments have stopped long ago and the bank has defaulted the owner. She hasn't got spare cash to make payments so her credit rating is smashed. the only way to restore her credit status to some degree is to pay the full amount so she is sticking to her asking figure (or close).
The banks' only further recourse is to repo the boat but that would be a waste of their time and they know it. Spend a thousands or two on towing it away and storing it somewhere else then advertising it for auction in the hope of getting someone to pay a considerable sum of cash. The bank knows it won't happen so they just leave it sit with a default in place. If the lady flukes a good sale then everyone wins but more than likely, it will be left to sit and deteriorate further.

Sad story, probably a lovely lady in a tight spot and no easy way out. I wish the owner all the best and hope something happens to help her out very soon.

If I'm way wrong, unreserved apologies to all concerned.

RR

Interesting observation rak rua... Maybe that's why she has it stored at my buddies. She may be trying to hide it.

Not wanting to sound harsh but she's got nothing to hide. The bank doesn't want it. They hope she can move it and then pay the loan. If they take the boat, she is 'sort of clear' and then the bank is stuck with it.

I think if she could come to terms with it's true value, she'd probably just let it go rather than have the lingering debt.

Again, just my guess.

RR

Oh the fustration . I know where there is one like that real close to me . Sitting for years , broken stringer goldmine in parts big time , boat is paid for ,she wants 3 times what im willing to offer , offer being 1/3 of what the boat would be worth with good floors -stringers ,interior and turn key.

Well i'll will be harsh. I don't feel bad for the owner at all. They get what they deserve. They were stupid for letting it sit and go to crap. If you take out a 40000 dollar loan pay half of it over 10 years let boat go to crap then expect some one to pay the loan off for you your crazy.

Reminds me of the owners of old musclecars that are rotting away in their back yard - they refuse to sell for a reasonable price because they are "planning to restore it" someday. With a boat in particular, the longer she waits the further the value is going to fall.

Maybe I'm missing something here, but if that boat went to auction(after being repo) I can see it easily bring 11k(more then likely what she owe on it).

I would offer her 11k today in one condition that if the motors dont run I dont buy the boat. I would be willing to put some time into getting them running even if they dont at the end of the day.

Really fresh gas from a 3 gallon outboard tank, fresh battery,maybe pull the dist. and prime the oiling system, and see if they will light off. Might need carb work but new carbs would be less then 1k.

If she hears them run that price is going up