selling process question

Slip Away

Lieutenant
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May 11, 2010
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1,431
In this case, It means it has a registration number issued by the state for the boat when it was first registered. We have them on the side and they are assigned for the life of the boat. If it is a new boat or is coming from out of state there is a different set of rules.

That is not a USCG definition of a documented vessel. It's just registration numbers, and those stay with the boat throughout it's life here in Michigan as well. Need title to "own" the boat in Michigan. I suspect it is same in Connecticut. {EDITED: Please remember to run your impending posts thru a FAMILY friendly filter: Rule #1 of the forum rules you agreed to when you joined. Thanks
 
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Taxus812

Petty Officer 2nd Class
Joined
Aug 5, 2013
Messages
173
That is not a USCG definition of a documented vessel. It's just registration numbers, and those stay with the boat throughout it's life here in Michigan as well. Need title to "own" the boat in Michigan. I suspect it is same in CT.

LOL CT
{EDITED: Please remember to run your impending posts thru a FAMILY friendly filter: Rule #1 of the forum rules you agreed to when you joined. Thanks
No title here, had lot of help in this thread on that one. Its all electronic and stupid simple.
 
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Taxus812

Petty Officer 2nd Class
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Aug 5, 2013
Messages
173
Ooops Taxus812 is doing the walk-of-shame :tape: <Picture hands in pockets, looking at ground, swiping pebbles with one foot>

Glad Im not from Ma :)
 
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Taxus812

Petty Officer 2nd Class
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Aug 5, 2013
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173
Wanted to say thanks for all your help. I sold the boat in just three days and I had to schedule people that wanted to see it. I am still getting inquiries if it sold. (I must have priced it to low but it was ok I preferred it to go fast)

Things that helped me
1) Understanding the sale\registration process in my state
2) Disclosing the lien and that when the bank check clears the bank would issue a release of lien and send him a copy electronically.
3) Expecting a water trial (and having the boat ready to go.)
4) Put as-is on the bill of sale

We had a few hiccups regardless of the best plan

1)The second person came to look at the boat, it was raining far to hard to take a water trial. He wanted the boat but wanted to take a water trial. I wanted him to take a water trial but I had people scheduled to look at the boat every day that week. What we did was: He put a deposit down I wrote a recite for the deposit with a statement of the agreed price and the condition that the water trial be completed in the next three days. I also emailed the other potential buyers that it was under deposit and asked if it fell through if they would like to be notified.

2) For reference a bank check above $5000 will have an automatic 7 business day hold. I checked out the person buying the boat, the check was from a local bank, I checked that funds were available with the bank (check was good) . I elected to let him take the boat. I kept the insurance on the boat until the check officially cleared.

He is happy I am happy. I feel bad for the first family that was interested they wanted to take it to a mechanic since it was their first boat. I had no issue but stated
all related costs would be at their expense and outside of the sale. I also stated that it needed to be local and that I reserve the right to sell it before their inspection.
However they didn't put a deposit down so it sold to the next person who looked at it.

I was surprised on how much interest I had and how fast it sold. It is an OB and they are not popular here. The NADA had it at $1000 higher than my asking price if you put in the trailer but there is an asterisk stating the price is with trailer. If you didn't put in the trailer it was about the same as my asking price. It was in fantastic shape I suppose that had a lot to do with it.

anyway thanks.
 

tpenfield

Moderator
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Messages
17,621
Nice to hear of your happy ending, you done good. I have always thought and said that "the boat in the best condition at the lowest price is the one(s) that sell" . . . your experience is a good example of selling a boat in short order and being able to move on.
 

64osby

Admiral
Joined
Jul 28, 2009
Messages
6,799
Congrats on selling.

Money talks. The first to look at it should have put money down. There is no reason to feel bad. If there is something I see and want but need to get more cash or have it looked at, a deposit almost always works. I have held large ticket items with a $20.00 deposit and a bill of sale stating the deposit and additional money owed.

Hope all goes well and the COL in Florida is within the budget.
 
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