bob_t

I discussed what happened to me with one of my friends who owned a car dealership and he told me the exact same thing: make the check out to the person and the bank! Then (you) talk to the bank directly and tell them what you are doing. The bank will then payoff the balance owed (assuming the amount owed is less than the agreed upon selling price) release the title (and should handle assignment the title to you as the "buyer") and return the remainder of the money to the other person. Disclaimer: I have not tried that, just what I was told.

Enough 4 Play

This was my thoughts exactly. I would get a payoff letter from the lender and confirm the payoff amount and how they want to handle the transaction. The broker can get his funds from the seller.

Wildman_grafix

Depends on the state, in here in Indiana a documented boat doesn't have to pay the 7% sales tax, think about that one on the more expensive boats.

Dean Ferry

Bottom line for me, from now on, if I can't leave with the title in my hands, they can keep their boat, there will always be another one![/QUOTE]

Always the way I do business also, No title in hand, no deal!

Baja_342

You clearly don't understand why the documentation process exists. States "do their own thing" when it comes to registering boats. It takes the guess work out of paperwork questions like these. Plus there are incredible tax advantages in a lot of states.

alindquist

Captains Choice is only a few miles from my house, I have looked at a few boats over there and have talk to the owners many times.... They seem like pretty stand up guys but I haven't ever bought a boat from them. That said I do know a few people that have and they never mentioned having any problems. Good luck.