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Old 09-01-2001
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cost of buying a boat

Perhaps I can shed a little light here based on my recent experience. The boat that I just purchased was constructed in South Africa. The bank required that the boat be documented. It helped that the boat had been documented previously. Documentation cost a bit over $500.00. As I was told, a boat built outside of the US can only be documented in the US if there is a continuous record of the owners and vessel built overseas can only be documented as a private pleasure craft.

The point about additional expenses in very important. The boat was in Maine and I also had considered a boat in North Carolina. Before I have my boat in Maryland and ready to sail I will have over 20% of the purchase price of the boat in airfare, hotel room and car rentals and fuel going to see the boat, as well as, surveys, taxes, shipping, commissioning, and correcting items recommended by the surveyor as required in order to obtain insurance.

Regards
Jeff
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