owner financing
 

Got someone interested in my 280,wants to know if I would owner finance ???? I cannot think of a safe way to do this. Anyone got any ideas? Bob

Unless it was a friend that I PERSONALLY knew...I would not even consider it. It sounds like all you will need to complete the deal is some KY Jelly...think seriously before you do it.

I am not even sure I would do it for someone I knew. That could get very ugly. There is no real way to protect yourself. Sure, you can have legal documents drawn up, but if they don't come through you have to take them to court to get what you can of the left over pieces.....

I've done this several times on the selling end! It's not worth the stress you'll put yourself through. Can get messy when you send Guido to get your boat back aswell. I'll never do it again with the best of paperwork from your attorney you'll still be less than favorablly covered IMHO Rich

Not just no...but HELL no.

must be a reason why he does not go to the bank for a loan....

I would not do it..

even if it was a friend I wouldn't recommend it because he won't be a friend of yours for long. As mentioned there is a reason he is not going to the banks. Save yourself some headaches and say NO.

I feel the same way. I was just wondering if there was a way to protect myself legally that I was missing. Thanks guys. Bob

Get 98% down and string out the other 2% over 2 years :)

if he owns a house you can file a lien on his property. At least if he defaults on the boat you have his house to take. I ran into an issue selling my last boat because it was worth over what the banks would lend on it. We ended up with a cash buyer which eliminated the problem. Good luck