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Precautions when buying a boat

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Precautions when buying a boat

Postby cheechakoe » Mon Mar 24, 2014 2:44 am

Kind'va newbie at this, so not even sure if I'm asking the right questions, but here's an over-the-transom stab at it:

Was wondering if there is a source for determining whether a vessel has a clean title (like a title search when buying a house), specifically to determine if there are any liens against the vessel or if ownership is disputed or if there have ever been any insurance claims made against it? Trying to determine if I can assure a clean sale and also determine the vessel's history, and not so much whether it's fishy or not (generally easy enough to determine just from talking with folks who're familiar w/it and fished around it), but whether the vessel (fiberglass in this case) has had structural damage (hit a rock, e.g.) and repairs have been artfully concealed.

Also, is there a standard bill-of-sale contract you can use?

And cuz I don't even know what I don't know, I should add that any comments addressing concerns I'm too ignorant to've thought of yet in the buying process would be greatly appreciated from alla you that've been thru the looking and winnowing and buying.

Tx. for any comments and insights.
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Re: Precautions when buying a boat

Postby akfish1 » Mon Mar 24, 2014 5:28 am

Well in Alaska you dont even need a fancy bill of sale. Boats can be sold on a bar napkin. Liens I am not sure about though. I know than you can call the state and find if a lien has been filled against yourself. I would bet a call to the DMV would get you all answers needed.
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Re: Precautions when buying a boat

Postby Kelper » Mon Mar 24, 2014 5:51 am

It depends on if the boat has AK numbers or is documented with the feds. Not titles in AK on boats, which makes it tricky for banks to lend on them. Banks really like documented vessels. My boat was documented, and I used Kim Marine to handle the transfer of the document. I'm pretty sure they did a title search as part of the process. It'll cost you though.

Most trollers are pretty known here in AK too, and you can find out about most major things by asking the right people. Don't rely on a surveyor to show you all the problems, and don't count on the old owner to disclose what issues or differed maintenance the boat has. You have to find out these things yourself. As far as boats go, buyer beware.
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Re: Precautions when buying a boat

Postby Salty » Mon Mar 24, 2014 11:25 am

I wish there were likes on this forum. Like the responses here.
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Re: Precautions when buying a boat

Postby tkbluefin » Mon Mar 24, 2014 8:14 pm

I have used Kim Marine 3 times....2 buys and 1 sell. I highly recommend them. One of the best ways to find out about a specific
boat is to ask other boat owners in the harbor. It's amazing what you can learn.
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Re: Precautions when buying a boat

Postby entropy1 » Wed Mar 26, 2014 10:17 pm

The ONLY way to buy a boat and know it has a clean title is through a US Marshal sale. Besides there being no single place to look for liens there can be un-filed liens in EVERY other case. I know it sounds crazy, because we have all bought and sold boats, but this is a fact. Sorry, I know it's not what you wanted to hear.
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Re: Precautions when buying a boat

Postby lone eagle » Thu Mar 27, 2014 6:52 pm

bill of sale 1340 downloaded off the coastguard website. the folks in Falling Waters West Virginia are very helpful..
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Re: Precautions when buying a boat

Postby Siskiyous » Thu Jul 03, 2014 6:46 am

I too used Kim Marine and will do so again.
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