Florida home and condominium foreclosures have gotten the major share of attention in the last couple of years, but a similar deluge of foreclosures took place in the boating industry last year. Repossessions continue to happen weekly although they have slowed from their peak in mid-2009. Vessels are repossessed directly from owners who can no longer make their payments, and from dealers who have gone out of business. The latter because they couldn’t meet the loan payments that they had to finance their inventory. Good deals abound for those who want to add a boat to their Florida retirement. As with foreclosed homes, condition needs to be investigated thoroughly before a purchase.
Boat-Chek.com will do an inspection of a boat anywhere in the country and report its condition. This will not replace a full blown marine survey, but can narrow a search to those worthy of additional investigations.
