This isn't about the boat being documented -- it's about the arrangement the seller has with the broker. Think of it as the actual price
is $500 more than you thought. If that's OK, then it's probably fine.
The paperwork for transfer of a documented boat isn't that complicated. It will take about 10 minutes to fill out, and the amount of time it will take you to get the bill of sale
notarized. The fees
are $85 plus $8 per page of bill of sale
. There is currently about a three month backlog for documented boats. You'll still need to register it in your state, but you likely won't be able to do that until you get the documentation
back from the Coast Guard.
So if I'm understanding it correctly, you're paying $500 for about $100 of documentation
, to get someone to notarize the bill of sale, and to complete a title search. Shouldn't the title search be part of the broker fees?
This seems like a negotiable item to me, and I wouldn't be afraid of doing the documentation myself, after the sale. For me, it sort of depends on how large a transaction this is to begin with. If it's a $60K boat that you're getting an OK deal on, it's not worth a debate. If it's a $2K boat, it's a negotiable item.