To clarify and add detail to the discussion about our "transfer of ownership" process:
Our usual contract has ownership transfer occurring after the boat has been commissioned and demonstrated to the buyer's satisfaction. Closing proceeds and final payment of an agreed percentage held back is made. In John's case this would have occurred in San Diego after delivery.
John chose to contract with his preferred supplier for electronics installation after delivery, so this would have then followed the closing. Otherwise Helmsman Trawlers will install electronics and other post-arrival items as part of the purchase contract and will consider this to be part of the commissioning process prior to delivery.
After their contract to purchase was signed, John and Mary chose to take advantage of low interest rates and arranged for a loan, which was not part of the original agreement. The lender would not lend money without a security interest (as would be usual) in the form of a USCG Preferred Marine Mortgage. To make that happen the actual transfer of ownership took place when the boat was loaded for ocean transport in Shanghai. This allowed the lender's funds to be released for final payment to the yard, and at that point we correspondingly had a confirmed Bill of Lading. The boat was thus in our control and was insured for ocean transport by Helmsman Trawlers.
I hope this helps with understanding. Naturally the security of buyer's funds and the certainty of a boat in exchange is of paramount importance.
So in most cases the "leverage" that twistedtree mentions is assured by the actual closing being scheduled to occur after commissioning and demonstration. But in all cases it is also assured by the importance of reputation -- delivering on our commitments.
Scott Helker
Helmsman Trawlers