buying a repossessed boat

[dt1]

im going to look at a boat that has been repossessed by a bank, its on sale through a reputable broker but it has absolutely no papers with it. She is on sale at a very fair price as the bank/broker say they are just trying to get their money back. Can anybody see any problems with this ?
ie, i thought the previous owner had to sign the bill of sale, or would the bank hold the bill of sale and be able to sign it.
I am trying to avoid any problems when i go to sell it
thanks

 

[Freebee]

The bank may not be the full owner, If mortaged old owner probably put down a deposit-bank should be able to provide some reciept for the sale though.

If its cross channel capable could be an issue becuase you may be asked to produce a Vat reciept.

 

[dt1]

Thanks Mike i hadnt thought about the vat receipt, going on the price now i think the old owner would have put down around 30k,

 

[GC1]

There could problems if it's a SEALINE SENATOR 240 NAMED "LUANDY 11 " /forums/images/graemlins/laugh.gif

 

[dt1]

Thanks for that gce1, by the way going on your generator pictures your grass needs cutting

 

[carlton]

Re: buying a (nicked ten years ago) boat.

/forums/images/graemlins/grin.gif