SailNet Community - Reply to Topic

   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 > On Board > Boat Review and Purchase Forum > transfer of documentation
 Not a Member? 


Thread: transfer of documentation Reply to Thread
Title:
  

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

Message:
Trackback:
Send Trackbacks to (Separate multiple URLs with spaces) :
Post Icons
You may choose an icon for your message from the following list:
 

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.



Click here to view the posting rules you are bound to when clicking the
'Submit Reply' button below


Additional Options
Miscellaneous Options

Click here to view the posting rules you are bound to when clicking the
'Submit Reply' button below


Topic Review (Newest First)
03-11-2008 12:00 AM
Sapperwhite Just thought of this thread when I answered another.

Abstract of Title- $25
NVDC Order Abstracts of Title Online

Exchange of Certificate of Documentation- $84

But if your lender requires you to go with the (trumpets please) Official Documentation Service, then thats the cost of doing business.
02-22-2008 11:14 AM
chucklesR If it is a used boat the document service and insurance is worth it's weight in gold, and as said often required.
If it's new, like mine was its a profit center for the loan company; and was still required unless I wanted to pay cash for the boat.
Not many folks have 160k laying around and I didn't at that moment so I paid the bribe, er fee, and went about my day.
02-22-2008 11:05 AM
hellosailor Actually I don't think xort mentioned how much has loan shark wanted, it might be more than $200. Which also leaves the question, is the loan shark providing title insurance (which can be bought) or simply charging him money because they are satisfying themselves about title and NOT providing insurance?

Too many issues being confused and ignored here, to say if the loan shark is being greedy or not. The same way you can buy a car and have the dealer take care of all the licensing and registration for you--often for a $50-100 fee, while they pay $15 to some plate service who sends a runner out every morning with a boxful of papers for two dozen customers all at once.
02-22-2008 11:05 AM
sailingfool
Quote:
Originally Posted by xort View Post
Loan shark, er loan officer wants to charge me for handling the transfer of documentation on a used boat purchase.
I went to the coast guard doc site and couldn't make sense of all the gobledegook.
Anybody care to tell me what it actually costs to transfer documentation?
I have usually paid about $300 to have a doc service handle this for me.
02-22-2008 10:50 AM
Gryzio
I never did this type of transfer.

I have never done this so it a good question for me to learn.

We have registered boats from Canada into the USA. But, it different than this.

I assumed it should be something simple if it go through some from of Government. They just make it sound complicated.

When my Ham Radio License came up for renewal, I was getting letters from everywhere to send $10-25 to get my license renewed.

So, I went to the FCC website and read. Downloaded a PDF form and fill it in. I could not find where they say how much money to send?

I called them on the phone and some pretty woman tell me; "It not cost anything to renew. People get your name and address from your 'Call Sign' and try to get you to pay them to do it for you"!

So, I learned two things that day. One, never give out my "Call Sign" on the Internet, just on the Radio as needed. Two, Government stuff is easy if we take the time to learn and ask questions. Heck, I can even keep my Books and do my own Taxes. Weeeeeee!

But, it never hurt to ask and this was a good question for myself.
02-22-2008 10:24 AM
max-on I agree with SD. Why do you say "pure greed", they are undertaking the responsiblity and liability to insure that the boat is free and clear of all liens, for a $200 fee, it is more than filing a sheet of paper.
02-22-2008 08:47 AM
SailorMitch
Quote:
Originally Posted by labatt View Post
Generally, if you are getting a significant loan to pay for the vessel, the loan company will require you to go through their people to transfer the documentation. When we were looking to buy a Hallberg-Rassy 53 recently, we talked to 8 different brokers. For the amount we were borrowing, every one of them required that we go through their people for the transfer - period. I'm generally pretty good at negotiating, and there was no bargaining here...
Yep, they are in control of the transaction as it were and really want that extra money in their pockets. Pure greed, but they can get away with it in this situation.
02-22-2008 05:00 AM
sailingdog This is often because of the lien issue. The bank has a vested interest in making sure that the boat you're putting up as collateral for the loan you're buying it with is free and clear of any liens in case of default.

Quote:
Originally Posted by labatt View Post
Generally, if you are getting a significant loan to pay for the vessel, the loan company will require you to go through their people to transfer the documentation. When we were looking to buy a Hallberg-Rassy 53 recently, we talked to 8 different brokers. For the amount we were borrowing, every one of them required that we go through their people for the transfer - period. I'm generally pretty good at negotiating, and there was no bargaining here...
02-22-2008 04:16 AM
ccam Xort-
I couldn't find Sapper, so I sheeped my way through for $200. She just asked the general, home port, new boat name, kinda like lawyer fees 15min If your in the know (sappers suggestion) and have the time go that route for sure.
02-22-2008 03:18 AM
xort lots of great info, thanks to all
This thread has more than 10 replies. Click here to review the whole thread.

 
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


All times are GMT -4. The time now is 02:39 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.