Due Diligence When Buying A Boat

[Stingo]

All the warning signs are there and I know that I should walk, no, sprint, away, but. but, but....

The seller's story just doesn't add up and there are several dubious "facts":

1. "the original owner has died so I cannot get hold of all the boat's ownership history or papers".
2. "The boat has never been chartered" (There is a Fakepoo page of the same boat being a charter operation in Croatia until 2015).
3. "The boat has been on the hard since 2016 undergoing an extensive refit" (Yeh, right!)
4. "The boat is VAT paid in the EU, but I don´t have the paperwork for that". (Yeh, right, so how did you get it re-registered in Austria?)

Through a friend of a friend etc, ref point no1, above, I have been told of a dodgy Seth Efrican that owned one of these and had a charter operation in Croatia. When his Croatian partner asked for his share of the moolah, the Seth Efrican legged it to Greece and apparently lost the boat in the ensuing court battle, and he is still alive and well and living in Johannesburg. This leads me to the question: How do I check if the boat has any liens or debt attached to it?

 

[LittleSister]

Track down the South African and ask him?

The Greek court papers might shed some light on it.

Can you check the Austrian and Croatian (and maybe Greek) registry?

Talk to the boatyard where it's supposedly been since 2016? (Unless they're the ones selling it. Though even then, the more you can get them to talk about it the more clues (incl. inconsistencies with what they've already said and further gaps in the story) you might pick up.

 

[capnsensible]

Run rabbit run rabbit run run run.....

 

[LittleSister]

Run rabbit run rabbit run run run.....

He who dares wins!





. . . or ends up with out of pocket and no boat either (and perhaps with violent gangsters or the police after him).

 

[geem]

Run

 

[ChromeDome]

If the boat (as seen) is worth owning, the VAT matter should be fairly easy to state. Croatia, Grece and Austria all in the EU and if taking it to the UK youre gonna pay anyway. If keeping it insede the EU (Portugal for example) there most likely will be no issue.

If EU VAT never paid that however could end as a bill on your desk

 

[AndrewB]

It's been nicked. SO .. half what he's asking (mention your mate in the local constabulary). Cash, no paperwork. Change the name, change the port (asap if not sooner), paint job, new SSR registration. Forget VAT status - if its more than 10 years old it probably will never be checked,

 

[Stingo]

I've now worked out which yard the boat is in in Greece, which was as easy as "where can I view the boat". The boat can actually be viewed on Google Earth, so is actually in the yard that the seller claims it to be in.

I'll fire off an email to the yard on Monday, asking if they are aware of any court attachments, which I'm sure they would be if there are any; as in don't launch until xxx is cleared. Will also ask if any yard fees are outstanding.

 

[billskip]

I've now worked out which yard the boat is in in Greece, which was as easy as "where can I view the boat". The boat can actually be viewed on Google Earth, so is actually in the yard that the seller claims it to be in.

I'll fire off an email to the yard on Monday, asking if they are aware of any court attachments, which I'm sure they would be if there are any; as in don't launch until xxx is cleared. Will also ask if any yard fees are outstanding.

Are you dealing with a guy called Gregory?

 

[SaltIre]

Here's a recent thread:
Idiot, idiot, idiot ver Stingo

 

[Stingo]

Replying to @billskip
No. The seller currently goes by the name of Robert, but it wouldn't surprise me in the slightest if he somehow became known by some other name.

 

[Stingo]

Are you dealing with a guy called Gregory?

Who is Gregory? Is he connected to a boatyard in Greece, or is there something else I need to know about?

 

[WoodyP]

Is the boat right?

 

[Stingo]

Is the boat right?

No idea yet? The photos look good, the spec looks good.... and so on, but first I just want to make certain there are no legal claims on it before flying to Greece to look at it.

 

[Wandering Star]

More importantly, is it a cat or is it a proper sailing boat?

 

[Stingo]

More importantly, is it a cat or is it a proper sailing boat?

Of course it's a cat, silly

 

[RunAgroundHard]

The question to ask, if it all went wrong, are you old enough to recover financially or if not old enough, have the finance to right it off. I know too many people who have lost good coin and will never recover from it as age is against them. There has got to be a boat around that is verifiably legit which you can buy.

 

[Neeves]

Are there so few yachts for sale that you need to even consider any of this. If its a bargain (there will be a reason) and it may not be one you have yet listed). It must obviously be a bargain as you are intending to pay the cost of flying there and presumably staying for more than an hour.

But then I like a fairly simple life and I am sure I pay 'extra' for that simplicity.

Jonathan

 

[billskip]

Who is Gregory? Is he connected to a boatyard in Greece, or is there something else I need to know about?

Gregory Vosos....I think that's his surname or summat like it.....
Others on here will tell you about Gregory, be very careful.....

 

[ChromeDome]

Greg Yachts?