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You are getting ripped off on the USCG documentation IMHO... Yes, most lenders will require it, as it allows them to put a lien on the vessel more easily and makes their loan a bit more secure. That kind of loan is actually called a Marine Mortgage, since it is a secured loan.
I doubt your insurance is going to be only $840 a year, but I could be wrong—this is especially true if you want to go bluewater cruising in the boat. Given that you're looking at an IP32, rather than a Benehuntalina...you're probably not looking to stick to the coast.
Also, your slip fees sound low, since they're less than $3,000 per year. The repair and upgrade numbers are very low... since they're less than $3,500 annually, and this is a 17-year old boat we're talking about. You should figure on closer to $10,000 per year, at least initially....especially if you're planning on outfitting the boat for bluewater cruising.
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Sailingdog
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Telstar 28
New England
You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.
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