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post #1 of 5 Old 04-07-2008 Thread Starter
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Long distance transaction no broker

Visited a Hunter 212 when on vacation in florida, all seemed fine, sea trial went well, VIN checked out fine at the DMV, title is clear, no liens. Very close to making an offer on it, but concerned about the transaction aspect of this, since no broker is implicated. Delivery would be made by transport company chosen by myself.
Does anybody have any experience in this sort of transcation? how would you proceed? i've heard of some using a broker as surveyor/negotiator/escrow, but heard some bad stories of brokers not doing their job, and this would be a small trnasaction so worried about it not being worth a broker's time. Was also thinking of using a lawyer as escrow, but if anybody has any other suggestions, they would be appreciated
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post #2 of 5 Old 04-08-2008
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Quote:
Originally Posted by zemaniak View Post
Visited a Hunter 212 when on vacation in florida, all seemed fine, sea trial went well, VIN checked out fine at the DMV, title is clear, no liens. Very close to making an offer on it, but concerned about the transaction aspect of this, since no broker is implicated. Delivery would be made by transport company chosen by myself.
Does anybody have any experience in this sort of transcation? how would you proceed? i've heard of some using a broker as surveyor/negotiator/escrow, but heard some bad stories of brokers not doing their job, and this would be a small trnasaction so worried about it not being worth a broker's time. Was also thinking of using a lawyer as escrow, but if anybody has any other suggestions, they would be appreciated
Assuming this is a person to person transaction:

If you are satisfied, (but do get a surveyor)... then you must:

Draw up a Bill of Sale
Have them sign the registration / some states require it notarized
And have them at at receiving the check - to also mail in their part of the registration to the state with you actually there so you know it goes though..

After that process the boat is yours...I did this on my Catalina


it was painless.


Seems you did due diligence... If you feel uneasy - talk to your bank about setting up a escrow account and the terms upon which it should be full filled, ie surveyor report, etc.. - most banks can do this and will for your protection - fees vary but will be cheaper than a lawyer...

Hope that helps...

-- Jody

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post #3 of 5 Old 04-08-2008
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BTW, I would highly recommend you use a canned "boat sale" purchase agreement. You can often get them on the web... I know they've been posted here on sailnet a few times. They'll have wording in them to protect you a bit better than something you might write up yourself.

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post #4 of 5 Old 04-08-2008
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Here's the canned YBAA form http://www.oceanmarinellc.com/broker...eAgreement.pdf you need to strike out the references to brokers, and other changes as may be needed.

I agree with artbyjody's comments above, as long as you go thru the same process to change the state title so you become the legal owner of record you should be OK. Collect the sails, engine and any other movable gear at the time of sale and take them home.

I would not think you need a broker on site if the boat is at a yard, or delivered to a yard - the yard manager should be happy to take responsibility for whatever you want to pay him to do, from hauling, prepping for transportation, loading on the truck and kissing it goodby, although my opinion would be its best to be there to oversee the process, or at least the preparation of the boat and mast, and collect any loose gear.
Florida rings a bell though, you should search this board for several threads that discussed the Florida sales tax and when and where it applied. The state will have a good chance to collect it if it is argueably due, a situation you want to be sure to avoid. But that's another subject.

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Last edited by sailingfool; 04-08-2008 at 10:41 AM.
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post #5 of 5 Old 04-08-2008
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"Have them sign the registration "
Perhaps more important, make sure they sign over the TITLE. I think all states now issue the title separately from the registration, and it is the TITLE that the new honme state will require before they issue a new registration and title for the boat.
Florida could care less about the sales tax, as long as the boat is going out of state WITHIN 90 DAYS. As long as that happens, the only tax concern is paying use tax, if applicable, in the new home state. Otherwise, Florida wants the tax regardless of where the boat goes, and the new home state may allow a tax credit for that payment--or not.

I'd say it is most important to physically be there to prep the boat and pack the boat and see the movers actually pick it up and load it. Too many damages can happen at this point, you want to be there to have them sign off on picking it up in actual condition, and be there again to sign on on the receipt of the boat. Anything that can chafe, tear off in highway winds (hatches), move around, probably will do so, unless it is 100% secured.
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