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Purchasing boat from broker

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Old 05-11-2011, 07:00 PM
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Default Purchasing boat from broker

A friend of mine is picking up a 2007 26 Baja and the boat is located in Florida. He is from Wisconsin and is leaving Thursday morning to test the boat Friday and take it home. He's already aware that he probably should survey the boat. He's concerned that it might not have a clear title by purchasing it from a broker or somebody might put a lien on it after he purchases it. Any help would be greatly appreciated.

Bryan
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Old 05-11-2011, 07:21 PM
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A friend of mine is picking up a 2007 26 Baja and the boat is located in Florida. He is from Wisconsin and is leaving Thursday morning to test the boat Friday and take it home. He's already aware that he probably should survey the boat. He's concerned that it might not have a clear title by purchasing it from a broker or somebody might put a lien on it after he purchases it. Any help would be greatly appreciated.

Bryan
If he is paying cash then he should get title on spot. if he is financing than the broker will have to handle pay off etc. In Fl brokers are lisc. so there is a trace to him plus the bank will not release funds until title is recieved. If they gave him a check its a "hold check" meaning its held til title recieved. If he is taking a personal loan is out for boat make the same agreement with broker. No payment on check until title in hand. On the memo line write hold and get with bank they will know what I am talking about.
They can try and put a lien on it but if you have clear title with no lien its too bad.
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Old 05-11-2011, 08:01 PM
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I bought a boat from a broker in March and I paid in cash and received the papers on the spot.
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Old 05-11-2011, 08:25 PM
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Is the boat titled or documented?
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Old 05-11-2011, 08:35 PM
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Do your homework...


Every time I ever got screwed in life it's because I did not do my homework, never mind the azzhole that screwed me it was my fault.
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Old 05-11-2011, 08:49 PM
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what would be the difference if the boat is documented doing a deal
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Old 05-11-2011, 08:55 PM
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I live here in florida, who is the broker? And a coast guard documented title is a royal pain in the azz. No benefit at all to the owner and takes several months to get new paper work. I think only retards and ***s go this route..
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Old 05-11-2011, 09:12 PM
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Is the boat titled or documented?
This is what my friend said

"yes, titled in florida. will have to wait for title to be cleared of current owners financing lien on the boat upon completing this transaction, title will then be re issued by state of florida, clear of liens, to the dealer, and sent to me. was told this will take several days and title will then be sent to me once done. since i dont have the oppurtunity to see the boat, then pick it up a week or two later, since im 1000 mi away from the boat, these things cant happen during a typical closing period."

and

"
there will be a sales contract though at the time of transaction, but will have to wait for processing of clear title by state of florida."

The boat is being sold from Captain's Choice Boats Fort Walton Beach, FL.

Thanks for all the great info!!!
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Old 05-11-2011, 09:58 PM
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Of the 9 boats that I have bought over the years, I always left with the title in my hands whether it was a dealer or personal sale ... except once. I paid by bank check from my bank, had a notarized "marine contract" bill of sale signed by the dealership owner. Per the dealer "the bank" had the title and it was going to take up to 30 days for me to receive the title, signed over to me, as I was told. I was familiar with that from purchasing new vehicles, and since I had a signed "legally binding" notarized contract and bill of sale, I though I was safe. To make a long story short, the dealership owner never paid the bank; I found "the bank" that had "my title", but wanted "their" boat back, since it was never paid for by the dealer. Dealer kept making excuses, and finally had to get an attorney involved. Some states (I believe Florida is/was one of them) don't consider boats within the DMV - they are governed by Dept of Fish and Wildlife, and you have to file civil suit, which is what I was faced with. 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!

Last edited by bob_t; 05-11-2011 at 10:24 PM.
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Old 05-11-2011, 10:26 PM
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What about making the check payable to the bankfor the balance on the loan if there is one. That will ensure payoff and release of the title. I know somebody was bad rapping USCG documentation but the documenting service will make sure what liens if any are on the watercraft.
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