Closing Costs? - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > General Interest > General Discussion (sailing related)
 Not a Member? 


Reply
 
LinkBack Thread Tools
  #1  
Old 11-06-2010
Senior Member
 
Join Date: Aug 2010
Location: FL
Posts: 182
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
trisstan87 is on a distinguished road
Closing Costs?

Just a quick question regarding the purchase of a boat. What sort of additional costs are often associated with buying a sailboat? I live in FL so information pertinent to that state is most sought after but all is appreciated.
Basically I am wondering if there are any sort of registration costs or transferring of ownership or anything else that you could overlook in planning (besides a survey) to buy a boat.
Also, Do most of the marinas in FL require you to have some sort of insurance to stay at/in their docks/marinas?
Anything that could offset the closing costs is what I am after. I am trying to make sure I do not have any unforeseen surprises so if I am missing something please enlighten me.
Reply With Quote Quick reply to this message Share with Facebook
  #2  
Old 11-06-2010
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 9,307
Thanks: 10
Thanked 150 Times in 136 Posts
Rep Power: 6
Minnewaska will become famous soon enough Minnewaska will become famous soon enough
You mentioned the survey. Yes, FL has annual registration fees, approx $100 depending on length of boat. Insurance has always been required where I've been, but may not be everywhere. Delivery charges to get the boat home. Maintenance is almost always deferred to some level on a boat being sold, bottom paint, etc. Marina charges, slip or mooring. Then I've always had the experience of fixing tons of stuff that shows up the first season. After I get all caught up, it seems to settle down.
Reply With Quote Quick reply to this message Share with Facebook
  #3  
Old 11-06-2010
Senior Member
 
Join Date: Aug 2010
Location: FL
Posts: 182
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 5
trisstan87 is on a distinguished road
Thanks a lot. Im really close to closing on a deal and I just wanted to make sure I wouldn't get bit by any unforeseen costs due to bureaucratic type fees.
Reply With Quote Quick reply to this message Share with Facebook
  #4  
Old 11-06-2010
sailpower's Avatar
Senior Member
 
Join Date: Jun 2008
Location: Fort Lauderdale
Posts: 266
Thanks: 1
Thanked 8 Times in 8 Posts
Rep Power: 7
sailpower is on a distinguished road
Is the boat going to be CG documented? A marine lender will usually require it if you are financing through one. They will also probably require you to use a documentation service for the documentation and the First Preferred Ship’s Mortgage.

That can all add up to $400 - $700 depending on who you use.

Then there is the 6% FL sales tax.
Reply With Quote Quick reply to this message Share with Facebook
  #5  
Old 11-06-2010
PorFin's Avatar
Señor Member
 
Join Date: Sep 2007
Posts: 1,340
Thanks: 1
Thanked 8 Times in 8 Posts
Rep Power: 8
PorFin is on a distinguished road
Trisstan,

Quick list:

a. Survey (paid to surveyor)
b. Quick haul for survey haul out (paid to marina).
c. Engine and/or rigging survey -- something to consider if vessel is a little long in the tooth.
d. State sales tax.
e. State registration.
f. USCG documentation (if required by lender or you elect to have it documented.)
g. FCC Ship's Station License (if vessel is equipped with an SSB.)
h. Insurance.

Can anyone think of anything else I've missed?
Reply With Quote Quick reply to this message Share with Facebook
  #6  
Old 11-06-2010
Faster's Avatar
Just another Moderator
 
Join Date: Sep 2005
Location: New Westminster, BC
Posts: 15,149
Thanks: 83
Thanked 234 Times in 226 Posts
Rep Power: 10
Faster has a spectacular aura about Faster has a spectacular aura about Faster has a spectacular aura about
If you're fortunate to be able to arrange moorage, it's often payable a year in advance (often a better rate that way too)... depending where you are and size of boat this could be another several $K dip into the piggybank...
__________________
Ron

1984 Fast/Nicholson 345 "FastForward"

".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)
Reply With Quote Quick reply to this message Share with Facebook
  #7  
Old 11-06-2010
Member
 
Join Date: Mar 2010
Location: SF - South Bay
Posts: 535
Thanks: 1
Thanked 10 Times in 10 Posts
Rep Power: 5
paul323 is on a distinguished road
I also paid for a marine title company to complete a title search (confirming the boat was free of any leins), transfer the ownership of the boat, and complete USCG documentation. It cost about $200.
Reply With Quote Quick reply to this message Share with Facebook
  #8  
Old 11-06-2010
CalebD's Avatar
Tartan 27' owner
 
Join Date: Jan 2008
Location: NYC
Posts: 4,606
Thanks: 4
Thanked 92 Times in 85 Posts
Rep Power: 7
CalebD will become famous soon enough
I was going to add that a mechanic, rigger or even a boat yard could have a lien placed on the boats title but paul323 covered that.
__________________
"The cure for anything is salt water~ sweat, tears, or the sea." ~Isak Denesen

Everybody has one:

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
  #9  
Old 11-06-2010
Senior Member
 
Join Date: Jul 2006
Posts: 1,370
Thanks: 0
Thanked 2 Times in 2 Posts
Rep Power: 9
puddinlegs is on a distinguished road
Quote:
Originally Posted by paul323 View Post
I also paid for a marine title company to complete a title search (confirming the boat was free of any leins), transfer the ownership of the boat, and complete USCG documentation. It cost about $200.
Yup... that's the important one.
Reply With Quote Quick reply to this message Share with Facebook
  #10  
Old 11-06-2010
美国华人, 帆船 教授及输送
 
Join Date: Sep 2006
Location: MD
Posts: 2,499
Thanks: 23
Thanked 23 Times in 15 Posts
Rep Power: 9
rockDAWG is on a distinguished road
The amount if sales tax for a car is not so bad. Not for a boat, it will be costly if you get a 400k boat. You need a mortgage to pay for it. Time to think about move to states that have no sales tax. NH and DE come to mind.
__________________

Fine Print:
I am old school. Integrity is to do the right thing even when no one is watching.
Reply With Quote Quick reply to this message Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Closing up holes in the cockpit jarcher Gear & Maintenance 17 06-25-2009 03:16 PM
Boat companies closing Omatako General Discussion (sailing related) 12 02-19-2009 01:49 PM
Closing on the gate @ $$$ The Daily Sail $$$ NewsReader News Feeds 0 04-07-2006 11:15 AM
Closing Seacocks Tom Wood Gear and Maintenance Articles 0 12-20-2000 08:00 PM


All times are GMT -4. The time now is 11:37 AM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.