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Old 26-07-2014, 08:24   #16
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Re: Buyers administration fee

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Originally Posted by smj View Post
My mistake, sorry. I thought your broker was doing the documentation process for you and not going through a documentation company. At $300 that was a good deal.


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What documentation company? This is not a real estate deal. If your titling your boat in Florida, it is a very simple matter of going to the local county office, pay your sales tax due, and that is it.

These are additional add on fees which car dealers have made ubiquitous to the point of preprinting them on their bills of sales as if they are required.

They are ONLY extra profit.

As the saying goes, "No." is a complete sentence and should be used well and often for those that attempt to obtain that extra profit in this way.
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Old 26-07-2014, 08:37   #17
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Re: Buyers administration fee

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Originally Posted by avb3 View Post
What documentation company? This is not a real estate deal. If your titling your boat in Florida, it is a very simple matter of going to the local county office, pay your sales tax due, and that is it.



These are additional add on fees which car dealers have made ubiquitous to the point of preprinting them on their bills of sales as if they are required.



They are ONLY extra profit.



As the saying goes, "No." is a complete sentence and should be used well and often for those that attempt to obtain that extra profit in this way.

OP has not stated the size and price. If I am spending 10's to 100's of thousands, I am going to make durn sure the title is clear. Also, if you are documenting a larger boat with the USCG, it can be done by an agent.

I am just suggesting that the OP investigate whether this is a broker's administrative fee or just one of the normal closing costs which a conscientious broker will list out.


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Old 26-07-2014, 08:50   #18
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Re: Buyers administration fee

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OP has not stated the size and price. If I am spending 10's to 100's of thousands, I am going to make durn sure the title is clear. Also, if you are documenting a larger boat with the USCG, it can be done by an agent.

I am just suggesting that the OP investigate whether this is a broker's administrative fee or just one of the normal closing costs which a conscientious broker will list out.


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I could understand if this was a $20,000 dollar boat and a $2,000 commission but it isn't. We have bought and sold 8 cruising boats over the last 23 years and have never come across this fee. Maybe times are tough in boat sales and they have to make up the difference?
We normally do our own abstract of title with the Coast Guard to check ownership and if they own 100% of the boat. We also do our own documenting with the Coast Guard, tends to usually save $400-$500.


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Old 26-07-2014, 08:53   #19
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Re: Buyers administration fee

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Originally Posted by avb3 View Post
What documentation company? This is not a real estate deal. If your titling your boat in Florida, it is a very simple matter of going to the local county office, pay your sales tax due, and that is it.



These are additional add on fees which car dealers have made ubiquitous to the point of preprinting them on their bills of sales as if they are required.



They are ONLY extra profit.



As the saying goes, "No." is a complete sentence and should be used well and often for those that attempt to obtain that extra profit in this way.

You can hire a documentation company to do a search of the documentation and also take care of the documentation process with the Coast Guard, something we usually do ourselves. Titling a boat and documenting are two different things, but you are right, both can be done by the buyer.


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Old 26-07-2014, 08:55   #20
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Re: Buyers administration fee

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Originally Posted by smj View Post
noticed now the broker wants to charge a $300 buyers administration fee. Some brokers want the $300 from both the buyers and sellers.
Let's not misunderstand what was said here - quoted above for clarity --- nothing to do with documentation fees nor does it imply anything other than what he clearly states.

It's amazing how quickly words get confused here and folks go off on some tangent based only on their perceptions.

As written, this is nothing more than some brokers trying to emulate used car salesmen with $$$ which is in excess of that they must share with their parent company.

Find a reputable broker and walk to him with your feet/wallet.
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Old 26-07-2014, 08:59   #21
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Re: Buyers administration fee

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Originally Posted by Greenhand View Post
OP has not stated the size and price. If I am spending 10's to 100's of thousands, I am going to make durn sure the title is clear. Also, if you are documenting a larger boat with the USCG, it can be done by an agent.

I am just suggesting that the OP investigate whether this is a broker's administrative fee or just one of the normal closing costs which a conscientious broker will list out.


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We bought a boat in NY last fall, there was an additional charge by the broker to cover the NY State registration, wire transfer fees, overnight delivery charges and so forth. I don't remember exactly, but it was in the neighborhood of $200, about $100 of it was due to NY to register the boat. The broker collected the sales tax and registration fee and went to the DMV to pay the tax and register the boat. Same as buying a car through a dealer.

The bank required the boat to have a USCG documentation and they required us to use a documentation service. The fee was rolled into the loan amount, which included the USCG fees and insuring that the documentation was done correctly.

If you are buying a boat privately you can probably avoid paying someone to complete forms and send them to agencies involved and save few bucks, but you will still be responsible for registration fees and USCG fees. I don't see how the broker would be responsible for those fees.

And if a bank is involved, they will want to be certain that the title/documentation is clear and lien free and that the seller actually owns the boat. The buyer gets to pay for that, just like when buying a house.
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