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Old 12-19-2009, 07:25 PM   #21
tuga
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When a seller won't allow a buyer to start the engine, that is an automatic bad deal in my book! I would never buy a coach unless I could have the codes run on the engine and transmission.

Cavet emptor!
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Old 12-21-2009, 12:17 PM   #22
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My sentiments exactly! Maybe nothing amiss but if they really want to get top $$ they would provide a complete readout to any potential buyers. It could certainly ease the mind. Best wishes to all forum members for a joyous Holiday Season and wonderful travels in 2010! If any of you find yourself attending an ALMS race in 2010, Vanessa's Hospitality invites you to come to our hospitality area and introduce yourself. We will treat you to a nice meal.
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Old 12-22-2009, 03:32 PM   #23
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Looks like the Newell closed at $100,050, but under the reserve limit. I really think that paying anything over $100,000 is a real risk without knowing what the problems are. If anything, the bank should want to know what the error codes are, and any other issues that may affect the selling price. Seems to me that full disclosure might result in a sale closer to what the bank wants. Leaving people guessing gets "no sale"....
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Old 12-22-2009, 05:05 PM   #24
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This is most likely the decision of the Agent selling the Coach and not the Bank although I cannot be sure.
I have been involved with numerous Bank Owned Sales in Boats. The Broker always says that this is an "as is sale" but it is always subject to a Survey of the vessel. The Bid is put on the vessel with Good Faith and then I came in to do the Survey. I know of at least two instances that the Sale Price was Reduced because of Deficiencies with the Vessel, these Sales both worked out to the advantage of the Buyer because the items were "hidden" until the vessel was Surveyed.
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Old 12-22-2009, 06:23 PM   #25
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even though i would not have been scared to buy this coach with the problems noted, i would have been scared at over 100k.

i suspect we will see this coach again.

very interesting and silly approach to selling this rig.

tom
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