Anyone have experience in working with seawind?

[sailjumanji]

Originally Posted by Sand crab

Thread drift here,
Anybody know anything about that almost new 1160 that was foreclosed on here in the states. I think it was up for sale in Florida for $275K about a year or 2 ago. It went fast.

Saw it last June in Miami. Met the new owners. Nice people. Was in pretty rough shape when they got it, I think had been on a mooring unattended with outboards in water, plus almost everything of value stolen off it. New owners were restoring equipment, liveaboard, and plan to head out cruising. It seemed remarkably cheap, but not when you considered how much work and equipment it needed. IMO

[mglonnro]

Originally Posted by jbinbi

Was sort of posting in the new seawind model thread, but didn't want it to go OT, so starting a new thread.

I am looking at purchasing an 1160. I have gotten info back that the way the do an order, assuming there is no boat at my dealer is
1. you put down a small deposit, holding your slot
2. You then put down 30% when they start
3. another 20 % at next state
4. another 20 % at next stage
5. final 30% at handover

My question is, how do you get a loan? Most banks will only turn over money when their name is on the title for a tangible item.

Regarding the financing thing, Jeannius' escrow thing would seem (a bit complicated but) possible.

When we bought our Hanse we had to do 1. and 2. ourselves (30% in total), as the downpayment, and the bank released its financing (3 + 4 + 5 in one lump payment = 70%) only when we (the bank) took title of the boat, which was about six months before handover.

[introverted]

Originally Posted by jbinbi

Was sort of posting in the new seawind model thread, but didn't want it to go OT, so starting a new thread.

I am looking at purchasing an 1160. I have gotten info back that the way the do an order, assuming there is no boat at my dealer is
1. you put down a small deposit, holding your slot
2. You then put down 30% when they start
3. another 20 % at next state
4. another 20 % at next stage
5. final 30% at handover

My question is, how do you get a loan? Most banks will only turn over money when their name is on the title for a tangible item.

Also, if they can't meet their dates, can you cancel? Or can you cancel at any point assuming someone else wants your slot? Is this spec'd in a contract?

thanks.

You could get an attorney to handle all that for you. When we almost bought a Nautitech a couple years ago, the seller wouldn't let me put the funds in an escrow so we eventually walked away to buy a different boat. We ended up having an attorney work with our seller to put funds in escrow with stipulations to protect us. That said, the seller/builder is not going to build you a boat without being protected either. Most of the fine print is in the builder's favor. We ended up doing 20% up front 80% ex-factory. As for the loan, find a bank that specializes in doing boat loans, they will be familiar with new boat process.