2000 Searay 215 Express Cruiser SOLD



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Contract Pending  1987, 68' IRWIN YACHT

  VESSEL TOWING, SALVAGE & RECOVERY COMPANY ...............Tampa Bay 1-727-895-1355 ...............Channel 16 VHF ........................VESSEL TOWING, SALVAGE & RECOVERY COMPANY

U.S. MARSHAL SERVICE
TERMS & CONDITIONS OF SALE
AUCTION PARTICIPANT'S RESPONSIBILITY

Sale of a Vessel or Property:

(1) Payment of the Purchased Price:
Unless otherwise provided in the order of sale, the person whose bid is accepted shall pay the Marshal the purchase price in the manner provided below:

A. If the Bid is Not More Than $500.00:
The successful bidder shall immediately pay the full price.

B. If the Bid is More Than $500.00:
The bidder shall immediately deposit with the Marshal $500.00, or 10 % of the bid,
   whichever sum is greater. Thereafter the bidder shall pay the remaining purchase price within
three (3) working days.
 
(2) Method of Payment:
Unless otherwise ordered by the court, payments to the Marshal shall be made in cash,
certified check or cashier's check.

(3) Custodial Costs Pending Payment:
When a successful bidder fails to pay the balance of the bid within the time allowed by
Local Admiralty Rule 7.5(r)(1)(B), or within the time permitted by order of the Court,
the Marshal shall charge the successful bidder for the cost of keeping the property from the
 date payment of the balance was due, to the date the bidder takes delivery of the property
.
The Marshal may refuse to release the property until these additional charges have been paid.

(4) Default fo Failure to Pay the Balance:
The person who fails to pay the balance of the bid within the time allowed shall deemed to be in
default. Thereafter a judicial officer may order that the sale be awarded to the second highest
bidder, or may order a new sale as appropriate. Any sum deposited by the bidder in default shall be forfeited, and the amount shall be applied by the Marshal to any additional costs incurred because of the forfeiture and default, including costs incident to resale. The balance of the deposit, if any, shall be retained in the registry and subject to further order of the Court.

(5) Marshal's Report of Sale:
At the conclusion of the sale, the Marshal shall file a written report of the sale to include the date
of the sale, the price obtained, and the name of the buyer.

(6) Confirmation of Sale:
Unless an objection is timely filed in accordance with the rule, or the purchaser is in default for failing to
pay the balance of the purchase price, plaintiff shall proceed to have the sale confirmed on the day following the last day for filing objections.  

 
  
Impounded Vessels Auctions 

An impounded vessel auction is a type of auction that specializes in selling abandoned and disabled vessel. Once a vessel is towed by municipalities or private companies and the requisite time has passed, the vessels are auctioned to recover the cost of towing and storage. Most states require a rigorous process to determine the owner of the vehicle and the disposition of the title before allowing a vehicle to be auctioned. This includes a title search, publication of an impending sale and certified letters in an attempt to give the vessel's owner an opportunity to pay towing and storage costs and recover the vehicle.

These auctions are typically held by an auctioneer on the grounds of the tow lot, but Internet-based auctions are becoming more common.

States and municipalities vary widely in their treatment of impound auctions.. Impounded vessels are offered as-is, where-is with no warranty, free of any liens and a clear title issued by Florida DMV.

Those auctioning the vessels have no knowledge of its mechanical condition beyond the obvious , and are generally exempt from providing warranties. As a winning bidder, one must purchase and take possession of the vessel, even if it is not capable of leaving the slip/lot under its own power. Keys are not always available, and the engine hours may not be known. Vessels marked as salvage where partially sunken or submerged. Derelict vessels are abandoned or sunken and the ownership is determined by the law enforcement, and usually are sold or disposed by municipalities or private companies.