Pop Yachts

WildboatingWildboating Member Posts: 957 ✭✭✭
I will forewarn you that this is just a **** session that I want to share.

Pop Yachts has got to be the slowest most painful dealer I have ever worked with.  My goodness, I am currently at the point where funds are being wired to them, if i legally could I would cancel the sale at this point to ensure no dollar of mine ever lined their pockets.  I sent my 10% deposit 1 month ago, I had my lender secured and approved 1 month ago.  I told them I wanted the vessel to me by Memorial Weekend.  I feel like there was no importance to ensure we made it within the timeline.  However weeks coming up to Memorial weekend they never expressed any concern with the timeline.  It seems once they secured the deal everything went into crawl mode, now if i can just get something done in a credible amount of time it seems like a miracle.  I have cancelled and rescheduled the transport twice.  I am being told that if they are not 100% funded by noon tomorrow they are telling the seller to not release the vessel on Friday at 8am when the transport is there.    This seems so insane to me, this is no different then buying a home.  Once my bank has wired them the money they are fully funded 100%, the money is in their escrow account however they are telling the seller to not to release the vessel until they have been able to send the seller the money from them.  So odd.
2003 Rinker 342 Fiesta Vee, 350 Mag MPI, Bravo 3 2.20:1 w/ 22p 4 x4 props


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    JC290JC290 Member Posts: 706 ✭✭✭
    Odd to say the least. Good luck hope all works out for you 
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    POPYachts09POPYachts09 Member Posts: 1

    POP Yachts did not state that we would advise or suggest that the Seller specifically NOT release the vessel. The Seller has a right to be paid prior to releasing interest and it is not POP Yachts’ position to pressure the Seller into doing so. I can assure you that once the funds are in escrow, we will guarantee the Seller receives proceeds. If the Seller is comfortable releasing the vessel on the promise of payment then we will honor that, but that is up to the seller.

    The pressure to meet your transport timeline needs to be put on your lender at this point. The delay you are experiencing is on you and Newcoast. If Newcoast has not funded us by noon today (Thursday), there is little chance of the closing taking place prior to your desired transport date. You can certainly have transport on standby until confirmation on the closing can be given should funds arrive from Newcoast. As POP Yachts stated in our previous email to you, we are waiting on the funds from your lender. Please stay in communication with Newcoast to ensure they transmit the funds as timely as possible.

    Getting the funds in from Newcoast is the best solution as we generally would not advise a Seller to release their vessel until they have been paid in full. I am sure you can understand and appreciate that position and would expect the same if you were the seller.


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