Documentation Question

[charlesretired]

I am currently trying to sell my 92 252 GT, I have a guy who wants to buy but his lender thinks that the boat should be documented, is this the usual ? Can a 25 ft boat be documented ?? Has anyone gone thru this process ??? or does anyone have 1st hand experience with a lender who would not require the boat to be documented,that I can direct the potential buyer to ???? :hmm

Thanks charlesretired

 

[Bob Coco]

I bought my boat last year and it was a private sale. It was documented and I thought it was going to be a lot of trouble trying to buy and register it so I used a boat broker. He handled everything from satisfying the previous owners note to filing all paperwork to getting me my loan to filing new documentation papers for my boat. And it was super fast. I think the whole transaction took 3 or 4 days. The company was Trade Winds in Conn. I did everything by phone and they overnighted all paperwork. I think I payed 500.00 for their services. I'm sure it would be less if he's got financing already. It was also an out of state transaction. I'm in Long Island, NY and the boat was in Conn.

Good Luck, Bob

 

[boatino]

I purchased a boat last year from Boston, Mass. The boat was documented and when I financed through Boat US I had to re-document the boat for approx $500. Then NYS made me register the boat also. So I was double dipped on. The DMV didn't really know what to do because I guess there isn't a lot of boat documented on Lake Ontario. It stinks either way, but a 25 footer shouldn't need documentation unless the new owner really wants it.

John

 

[Gman25]

I purchased a boat last year from Boston, Mass. The boat was documented and when I financed through Boat US I had to re-document the boat for approx $500. Then NYS made me register the boat also. So I was double dipped on. The DMV didn't really know what to do because I guess there isn't a lot of boat documented on Lake Ontario. It stinks either way, but a 25 footer shouldn't need documentation unless the new owner really wants it.

John

You register with the state but you dont display NYS numbers on the hull. The "registration" numbers are your documentation #'s that has to be placed somewhere in the boat that would leave a scar if removed. The name on the boat is the official ID. Also some lending institutions require Documentation to protect their interest. It becomes an issue of jurisdiction if the boat has to be re-claimed.

'05 300 Marlin F250's

 

[Legend]

Documetation takes 6-8 weeks initially. I was stopped by the CG while waiting fir the documentation process to be completed. They jsut asked to see the appication for documentaion /once the boat is documented the yearly renewal is easy. You get a renewal form in the mail 8 weeks before it expires - sign it and return and the new documentation comes in about a week. It is free - some states still require you to registe, Massachusetts does not.
I believe the documention requirement is the vessels tonnage (displacemnt)

 

[max366]

Here's a link to the USCG documentation site. http://www.uscg.mil/hq/cg5/nvdc/nvdcfee.asp

If you look, there's link to the form one would fill out to document a boat and it includes the calcuation methodologyo to determine the hull displacement, which has to be > 5 tons to qualify. Fill in the data requested and out pops a displacement. Good luck

 

[bayrat]

" I am currently trying to sell my 92 252 GT, I have a guy who wants to buy but his lender thinks that the boat should be documented"

Just curious.. why would YOU have to document it as opposed to the new owner getting it documented..he's the person that wants the loan? In any event , I would definitely pass the cost of documenting it along to the new buyer. As another poster wrote on here, he bought a documented boat and had to get it re documented ..so that would cost the new owner another fee. It doesn't seem to make sense to me but admittedly I have no working knowledge in this area. I did have a documented boat years ago but think I did that to claim it as a second home/ mortgage at the time.

 

[bayrat]

Whoops ..just re read your post and I see where you are asking for the buyer and he IS the one that needs the documentation. Re my previous post....."never mind"...hah

 

[Legend]

From a purchaser point of view - i think the documentaiton act as in the way a title does- I believe it ensures the purchaser a clear title and that there are no liens against the boat. Other than that I believe there are some international benefits if you are by a border.

 

[boatino]

Sorry guys, I jumped in 2 weeks ago and didn't follow up. On my Marlin the documentation numbers are affixed to the hull inside the cabin under the v-berth. I also had to put reg numbers on both sides of the bow per DMV's request. The Coast Guard couldn't even answer the question as to whether documented boats needed to be registered in NYS. So I registered it and put the numbers on because I figured the CG and Sheriff would pull me over every time they saw my boat go by with no numbers on it.

Good Fishing.

John

 

[Hoghunter]

I have a 305 Express that I had to document when I purchased it new. This was required by the lender. As stated it's much like a title on a house. Usually lenders don't require documentation until purchase price starts to go over $100,000 at least.

Here in Washington we have to register the boat as well and get whacked big time on excise tax. I put my documentation number on the hull in the same spot mentioned by Boatino. You don't have to display registration numbers if you're a documented vessel. But you do have to display your homeport and boat name on the transom in plain sight.