Hi all, been a long time since I've been active in here but I need some guidance. I've come across an opportunity to purchase a 1977 Allied Seawind ii ketch via owner financing. Asking price is a fair market value, no interest, no down payment, holding title in exchange for bill of sale, and I can easily afford the payments we've agreed on. What kind of paperwork needs to be done for this type of agreement? Is this a good deal?
I think you'll get some good answers here, but another site that might be even better is Sailboat Owners .com Ask All Sailors. You'll have to register. There are some broker-type folks there long with some ex boat dealers. Also many more that deal with larger boats
http://forums.sailboatowners.com/index.php?forums/ask-all-sailors.18/
For one thing, I'd have a legal contract showing what's supposed tom happen.
Seems to me that you just need to make sure to have a written contract spelling out the details of the transaction, and get it Notarized or otherwise legally witnessed.
That's a great boat, best of luck, and - (from safely inside my glass house...) -
Where are the pictures???!!! :D