Originally Posted by Greenhand
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.
Sent from my iPad using Cruisers Sailing Forum
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.