Bargain Boats

Paul Allen has 3 of the world’s largest yachts. They aren’t docked behind his Mercer Island Washington home. What does he do with them? Where are they?

I agreed on a purchase price for a home for $500,000.00. I had a home for sale for the same price. I was wanting to wait to move into the new home after I sold my house. The owner was adamant I moved into the new home in April 1, 2008. We agreed on a price of $10,000.00 a month which I started paying in December of 2007, and have every month since. So I have paid $100,000.00. I went to his lawyers office which is in the same office as my lawyer. I asked my lawyer if it was ok to sign the Buy Sell agreement. He said it was a basic agreement. I knew I had to get financing by 12/15/08, or I would lose my money paid toward the purchase of the new house minus some Interest. The seller moved out of his house and left everything but their personal photos. The seller is regarded as a multimillionaire. I thought it odd he and his wife would move out and leave everything and move into a 14′x60′ mobil home! The agreement listed in the Buy Sell agreement the purchase price of the furniture for $20,000.00. He was insistent we move into his home on April 1, 2008. We did. A few months later the sheriffs office started attempting to deliver papers to the Seller. They left a set of papers with my wife for us to deliver to the Seller. I couldn’t help but read this suit. It was for the sum of almost $500,000.00 for a personal guarantee they made on a loan with a major US bank. I called my lawyer, he told me to return the papers to the sherriffs office. The next day, the sherrifs office came back to my home to drop off more papers. I returned the papers to the sherrif. The officer replied they had several more to serve to the Sellor and his wife. I hired a lawyer to investigate this situation. It was found Sellor was being sued for about $1,000,000.00. The house I am paying $10,000.00 a month on also had up to a $50,000,000.00 attachment for a real estate deal he was doing on condo construction. He denied he was being served papers. He said they were someone elses. I saw the paper. They were his!
Since, Sellors sister told me Sellors condos have a huge note on them, and the loan has been called. Sellors sister was concerned because her father built a new home and the same Sellor of my home, still owns the land fathers house is built on. Sister went to court house and said all of the property my new house, and her fathers house is on is tied up with the called note. I also found out he has a Line of Credit of $350,000.00 tied up in my home also. Sister found out Sellor has been taking $10,000.00 out of fathers account, as he has POA.
Sellor has started building a new home, but construction has stopped with bricks 4′ high. So I knew something was wrong with his finances.
He has been urging, even calling banks and setting up appointments for me to go and try to get financing on the home Sellor owns. I cant get financing on this home, because I havn’t been able to sell my house.
I am in the process of moving out, as Sellor has put everything he has up for sale. Sellor called me and told me I can move out, but this house is mine. I would have to keep making the $10,000.00 payments however until I sell Sellors house. I am out $100,000.00.
My lawyer and I met today, and he said the Buy Sell contract I signed didn’t have the usual terms in it to give me an out if I couldn’t get financing. The lawyer didn’t see this and didn’t advise me it needed to be in the contract before I signed it. Sellor is saying he will sue me for Specific Performance.
I have moved out the furniture from Sellors house, as the 1st two payments went to purchase of the furniture.
I also had a banker who was wanting to finance Sellor’s house for me, but it was found the 20′ of lake front was retained by Sellor. My banker informed me he couldn’t finance the property because the property had to go to the lakes edge.Seller told me I had a nice boat landing on the water. He didn’t say I could use it, that it was his!
What are my options if any except pay for the Sellors house? My lawyer told me I can’t list the home because I don’t own it.
Do I have any other options? Any Recommendations?
Thank you all very much.

Particularly yachts like Pelorus, Octopus, and Dubi. I’ve found many outside pictures, but I haven’t been able to find interior shots of any of them!

I’m interested in sailing yachts part time, a trip here and a trip there. I know people pay to have their yachts sailed from up north to Florida or from Florida to the Caribbean, how do I get a job doing that and how much does a captain typically make per trip?

Looking for general stats or trends on yacht sales.
How many yachts are sold each year (new and used) in the US?