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Howdy MH!
Until someone with actual experience chimes in, I'll throw in my dos centavos...
I have to assume that you're talking about purchasing a boat in Mexico that is not Mexican-flagged. And in that case, I would think that "technically" you're not going to purchase the boat in Mexico. Rather, you're going to purchase the boat in the boat's home country while the boat itself happens to be in Mexico. You're most likely going to purchase the boat via some title company based in the boat's home country.
It wouldn't surprise me at all to find some regulation stipulating that boat transfer cannot take place in Mexico itself and that boats are taken into international waters to get around that issue.
What I'm quite sure of, however, is that there is some way of purchasing a boat while it is in Mexico that does not lead to the loss of money or boat. There are simply too many yacht brokers in Mexico with US-flagged boats listed for sale. If selling those boats was in any way a gamble, the yacht brokers would be out of business muy pronto.
Now, hopefully someone who has purchased a boat while the boat was in Mexico will give us the real scoop.
Cheers!
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