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Old 20-06-2016, 22:02   #1
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Boat buying/selling escrow service?

Can anyone recommend a reputable (and affordable) boat buying/selling escrow service?

I need a service that can receive and hold a buyer's deposit until the transaction is complete, whereupon the funds are transferred to the seller.

I can find such services on the internet, but I have no idea if they are reputable.

Thank you for any help you can provide.
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Old 20-06-2016, 22:05   #2
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Re: Boat buying/selling escrow service?

I used a lady in league city texas, watercastle document service or something like that. She held the deposits and transfered monies to and from lender as well as completed all the uscg and state docs.
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Old 20-06-2016, 22:22   #3
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Re: Boat buying/selling escrow service?

https://m.facebook.com/Watercastle-D...1705095915342/
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Old 21-06-2016, 04:29   #4
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Re: Boat buying/selling escrow service?

If you have a lawyer he will most likely do it for you. They have to do this kind of menial tasking all the time.
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Old 21-06-2016, 05:43   #5
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Re: Boat buying/selling escrow service?

... Using an escrow service for a long-distance purchase makes good sense, but make sure to pick one like Escrow.com, eBay's recommended escrow provider. Be very cautious using escrow services you're not familiar with. Check the Better Business Bureau's (BBB) website to verify an internet escrow site's validity ...
Boat Buying And Selling Scams - BoatUS Magazine

https://www.escrow.com/
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Old 21-06-2016, 08:53   #6
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Re: Boat buying/selling escrow service?

Talk to your own bank. Many banks offer escrow as a regular service.

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Old 21-06-2016, 10:40   #7
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Re: Boat buying/selling escrow service?

The best advice I can give is to use YOUR lawyer.... and be sure to avoid the sharks. I bought a boat once and used a lawyer in Baltimore who just didn't know how to stop billing....and billing.... and billing.

Be sure you have a very clear engagement letter. I would draft it myself, not the incomprehensible garbage that the lawyer will try to hoist on you. Make it real clear and real concise and in plain English, three things lawyers are typically not capable of doing. Consider everything that could go wrong, and address it simply.

And, since most lawyers are completely paranoid, you will have to release them from all liability for everything except some pretty simple, well defined things that anyone with an IQ of 75 could accomplish.
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Old 21-06-2016, 10:48   #8
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Re: Boat buying/selling escrow service?

Somebody like watercastle will have flat fees. In her case its all she does and everyone i know around here uses her. She has an excellent rep and is a very nice and helpful lady. For example, my finicing fell through, she hooked me up with another lender that understood boats.
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Old 21-06-2016, 10:54   #9
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Re: Boat buying/selling escrow service?

Quote:
Originally Posted by Lantau View Post
Can anyone recommend a reputable (and affordable) boat buying/selling escrow service?

I need a service that can receive and hold a buyer's deposit until the transaction is complete, whereupon the funds are transferred to the seller.

I can find such services on the internet, but I have no idea if they are reputable.

Thank you for any help you can provide.
Lantau,

I can highly recommend Pacific Maritime Title in Seattle, WA.

Pacific Maritime Title

I bought and later sold my Pacific Seacraft Dana, held a Marine Mortgage, and, recently filed the Satisfaction of Mortgage with them. And, both of my boat purchases were handled by them without a hitch

The are one of the default Marine Title companies in Washington State and can handle transactions nation wide.

No affiliation, just a satisfied customer.
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Old 21-06-2016, 11:08   #10
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Re: Boat buying/selling escrow service?

Why loose your money on an internet escrow service when you probably can use your local bank for next to nothing? Or just go to your local real estate agent and get a name of a local escrow service.
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Old 21-06-2016, 14:59   #11
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Re: Boat buying/selling escrow service?

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Originally Posted by muttskie View Post
Lantau,

I can highly recommend Pacific Maritime Title in Seattle, WA.

Pacific Maritime Title

I bought and later sold my Pacific Seacraft Dana, held a Marine Mortgage, and, recently filed the Satisfaction of Mortgage with them. And, both of my boat purchases were handled by them without a hitch

The are one of the default Marine Title companies in Washington State and can handle transactions nation wide.

No affiliation, just a satisfied customer.
+1 on Pacific Maritime Title

Again, no affiliation, but Tanya Lage was our agent and was very efficient and friendly. (and oddly enough Bill, we bought our Pacific Seacraft 40 with her).

Ron
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Old 21-06-2016, 18:00   #12
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Re: Boat buying/selling escrow service?

Another +1 for Pacific Maritime, very happy with them for two boat purchases.

Sent from my SM-G920P using Cruisers Sailing Forum mobile app
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Old 24-06-2016, 02:57   #13
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Re: Boat buying/selling escrow service?

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Originally Posted by GordMay View Post
... Using an escrow service for a long-distance purchase makes good sense, but make sure to pick one like Escrow.com, eBay's recommended escrow provider. Be very cautious using escrow services you're not familiar with. Check the Better Business Bureau's (BBB) website to verify an internet escrow site's validity ...
Boat Buying And Selling Scams - BoatUS Magazine

https://www.escrow.com/
I nearly fainted when I saw what escrow.com charges.
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