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buying a repossessed boat question

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Old 02-17-2011, 04:30 PM
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Default 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?

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Old 02-17-2011, 05:51 PM
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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.
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Old 02-17-2011, 05:56 PM
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Cool avitar dolla!
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Old 02-17-2011, 06:07 PM
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thanks bro LOL. Pretty much sums up my life I think
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Old 02-17-2011, 07:17 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.
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Old 02-17-2011, 07:21 PM
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Originally Posted by rlj676 View Post
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.
what he said
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Old 02-17-2011, 08:13 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

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Old 02-17-2011, 09:18 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
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
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Old 02-17-2011, 11:52 PM
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Originally Posted by ShadBurke View Post
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
I have used her two times as well, once on a repo that I bought from a broker. The $400 or what ever she charged was well worth the money.
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Old 02-18-2011, 06:56 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
A marshall, oh crap, I'd for sure take the advice of these guys and spend a little money for this company to help! I learned way too much about the process and our secretary of state getting mine done a few years ago.


Good luck.
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