buying a repossessed boat question
02-17-2011, 03:30 PM
#1
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buying a repossessed boat question
I'm buying a repossessed boat and want to make sure there are no liens on it. They say the liens have been cleared and that the Coast Guard will produce a clean title. Is that good enough?
Thanks in advance
Thanks in advance
02-17-2011, 04:51 PM
#2
OSO OG
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Depending on the boat, have a marine doc agancy run a search to check for reg and maritime liens. On a documented vessel the cert of doc is the "title". Doesnt mean there cant be others... Just do your homework.
02-17-2011, 06:17 PM
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My boat was a repo I bought through a dealer that got it at auction. It was coast guard documented. I can't remember all of the problems I had titling it.....but there were a lot!
Just be prepared to spend a lot of time learning your secretary of state's policies (the dip****s working there won't know anything), and be prepared to deal with all the banks involved.
Basically you need a bill of sale, and then a "record of deletion" from the CG and some paperwork depending on your state. To get the record of deletion you need a bunch of paperwork from the bank that repo'd it showing it was legal, and there's no other liens I think.
Luckily there's a lot of time before summer, so you can clear it all before it's ready to splash.
Just be prepared to spend a lot of time learning your secretary of state's policies (the dip****s working there won't know anything), and be prepared to deal with all the banks involved.
Basically you need a bill of sale, and then a "record of deletion" from the CG and some paperwork depending on your state. To get the record of deletion you need a bunch of paperwork from the bank that repo'd it showing it was legal, and there's no other liens I think.
Luckily there's a lot of time before summer, so you can clear it all before it's ready to splash.
02-17-2011, 06:21 PM
#6
Banned
My boat was a repo I bought through a dealer that got it at auction. It was coast guard documented. I can't remember all of the problems I had titling it.....but there were a lot!
Just be prepared to spend a lot of time learning your secretary of state's policies (the dip****s working there won't know anything), and be prepared to deal with all the banks involved.
Basically you need a bill of sale, and then a "record of deletion" from the CG and some paperwork depending on your state. To get the record of deletion you need a bunch of paperwork from the bank that repo'd it showing it was legal, and there's no other liens I think.
Luckily there's a lot of time before summer, so you can clear it all before it's ready to splash.
Just be prepared to spend a lot of time learning your secretary of state's policies (the dip****s working there won't know anything), and be prepared to deal with all the banks involved.
Basically you need a bill of sale, and then a "record of deletion" from the CG and some paperwork depending on your state. To get the record of deletion you need a bunch of paperwork from the bank that repo'd it showing it was legal, and there's no other liens I think.
Luckily there's a lot of time before summer, so you can clear it all before it's ready to splash.
02-17-2011, 07:13 PM
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Sounds like a lot of fun... 
Alright, thanks for the help, I have time, waiting for a trailer to be built for it
There was a Marshall involved, and then on hold for a while
Alright, thanks for the help, I have time, waiting for a trailer to be built for it
There was a Marshall involved, and then on hold for a while
Last edited by dank368; 02-17-2011 at 07:15 PM.
02-17-2011, 08:18 PM
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No affiliated. Just saving you some time and maybe some pain in the butt.
Shad
02-17-2011, 10:52 PM
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You need to call the Mary Conlin Company who specializes in USCG documentation vessels, they can walk you thru the pitfalls. Any buyer will want her to handle the transaction, especially a repo vessel. I have used her 5x (2x for repoed vessels) and she was/is very good. The Mary Conlin Company is located in Newport Beach and can be reached at (949) 646-5917.
No affiliated. Just saving you some time and maybe some pain in the butt.
Shad
No affiliated. Just saving you some time and maybe some pain in the butt.
Shad
02-18-2011, 05:56 PM
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Good luck.
