National Wholesale Liquidators

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Bam073

New Member
Mar 1, 2008
177
Long Island
Anyone have experience with buying a repossessed boat? The broker I'm dealing with (who was previously our salesman on our 2 boat purchases made at MarineMax) sent me pictures and the boat is in great condition. Ofcourse I'll have a survey done but I'm a little leery.

The boat is a 2005 280 Sundancer with 55 hours, heat/ac, generator, windlass, etc. Selling in the 50s...

Any thoughts? Good idea, bad idea.

Chris
 
could be good ... could be bad.. due diligence is obvious. There have been some threads on the subject if you want to do a search. Several have had good luck with them. I wouldn't hesitate with the proper surveys.
 
Same here; if you have a realiable surveyor whom you trust and the boat comes back OK, that's a great deal.
 
Hi
Just curious, what is the location of the boat? I'm into the location in Ft. Lauderdale on a regular basis and if the boat is there I'd be happy to look at it for you. Just PM me if you'd like

Ray
 
55 hours on a 2005? what did they do for the other 4 years. That would be a big red flag for me.
 
Bought mine 3 years ago from National out of Ohio
Boat was in ST. Charles, MO.
No problem working with these people from my end.

Able to set-up sea trials. in and out of water surveys.

They even set me up with Maritime Capital Group and Key Bank for financing and Documentation.

Good Luck!
Dan
 
TurtleTone said:
55 hours on a 2005? what did they do for the other 4 years. That would be a big red flag for me.
Click to expand...

Remember, my boat is a 2000 and had 94 hours on it when I bought it last Dec. It was dirty and the canvas glass and O/D were shot, but everything else was like new once we got a good scrubbing on it done and the O/D replaced by the PO. Just get a good survey. I think there are lots and lots of deals to be had and many banks don't want to be in the Boat or Auto business. Just be careful, diligent, patient and persistent.
Have the engines and O/Ds looked at thoroughly too.

I new that my dealer was doing the service to follow up so I paid for a Compression and leak down test on the engine prior to the purchase and during the O/D inspection. They said it was like new, The did find a riser leak which was fixed, installed FWC for me after the purchase and life is good.
 
Todd's situation highlights the fact that repossessions and low time boats that have had long periods of non-use must be considered projects. You very seldom will be able to insert the key and go boating. You are, instead, most likely going to be the shepherd of bringing a boat back from some level of neglect.
 
Chris.... my question to you is why are you looking at a 28? You had a 24, now a 26...if you buy a 28 you'll be looking at a 30 next? In this buyers market why not look forward at a 30-34 even if they are alittle older? way nicer boats for the same price? js ric
 
I have been to the location in Ft. Lauderdale for National Liquidators. If you get a boat that if freshly taken/repo'ed, then you have a fighting chance the boat MAY be in good condition. Otherwise, these boats are in ROUGH shape, covers not on during the heavy rainy season here in FL. And last year we had the worst rain storm that was never named a hurricane that came thru the state. It left so much water it was a state of emergency for flooding, most up in my area but S. FL also got hit. Be careful and do extra check. You might want to check out the website on how much it cost for you to do a survey. The survey cost money plus pulling the boat, running the boat also cost you money (and it is not cheap). Due diligence to the extreme. Go overboard with checking the boat out.


Oh yeah....and when owners know the boat is being taken (and sometimes they do) they destroy the boat, take everything that is not nailed down and use a hammer on things that are. Not many in that condition but some are. They always look great in the pictures, but from what I looked at they looked drastically different when we visited.
 
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I can't thank you all enough for all of the posts from this subject. While many of you are most likely long time boaters with experience this will be my 3rd season of boating. Inspecting a boat is outside of the cosmetics for me is like doing surgery!

The thought of living on Long Island and purchasing a repossessed boat in Florida has made me a little uneasy. I think I would much rather purchase a boat up here for a little more money but feel better about doing it. Yes there are deals out there but I'm not one who is looking for the next project boat.

Ray thank you very much for volunteering to go look at the boat. I'm being told it's located in a marina (subsidiary of National Wholesale Liquidators) down the street. If I find out I will let you know. But I think at this point I'm not going through with it. Not to mention I haven't even broached this crazy idea with my wife. Let's see how that conversation would go; I'm going to buy a repossessed boat in FL, and I have to do it now. And I'll also have my boat that I still need to sell. So I'll have two boats and two payments. Before I know it I'll be in divorce court and she'll own the boat anyway!

Chris
 
katricol said:
Chris.... my question to you is why are you looking at a 28? You had a 24, now a 26...if you buy a 28 you'll be looking at a 30 next? In this buyers market why not look forward at a 30-34 even if they are alittle older? way nicer boats for the same price? js ric
Click to expand...

Excellent advice. If I remember, when he bought his 260, the same advice was given on another board. You now know how well he listened then. Hopefully, he has a better understanding now than he did the last two purchases.
 
katricol said:
Chris.... my question to you is why are you looking at a 28? You had a 24, now a 26...if you buy a 28 you'll be looking at a 30 next? In this buyers market why not look forward at a 30-34 even if they are alittle older? way nicer boats for the same price? js ric
Click to expand...

In today's market, go for a 36, 37, 38 footer, believe me you can handle her.

:thumbsup:
 
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Thanks for the advice Kay, sounds like "I told you so"! The thought is to be in a bigger boat that has heat/ac for the same payment as my 260, even rolling some of my negative equity in the note.
 
My cousin always buy his boat( his 4th boat from them now) from National Liquidators. he just recently purchased a 2004 320DA for only 66k! It is equipped with twin 350 mag v-drives and only 80 hours on the boat.

My cousin says to do your own due diligence and to inspect it very carefully as well as getting a survey.

If you would like me to go inspect boat(s) you are interested, I am willing to take a drive over there which is only 20-25 minutes away.

Good Luck!
 
Bam073......

I know you are not a fan of E-Bay, but sometimes you can bypass the site and contact the buyer direct. Here is an example of a freshwater boat that might fit
your budget, size requirements, and possibly your wife might like it. Most of all,
keep looking, there are boats listed everyday that might be a good buy.

http://cgi.ebay.com/ebaymotors/Boats___Sea-Ray-Sundancer-2004-300_W0QQitemZ190284269922QQddnZBoatsQQddiZ2831QQcmdZViewItemQQptZPower_Motorboats?hash=item190284269922&_trksid=p4506.c0.m245&_trkparms=72%3A317%7C65%3A12%7C39%3A1%7C240%3A1318
 
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