Buying a boat from out of state?

Buying a boat from out of state?

Jireh Financial works with buyers driving several hours to purchase their dream boat, even as far as Texas to New York. We know seeing the boat in person is not always an option when the boat is several hours away, so here are a couple tips that can help your purchase go a little smoother.

1. Get as many pictures and videos as you can, including VIN plate pictures for the boat, motor, and trailer.  A video chat (FaceTime, Skype, Zoom, etc) can ensure the pictures you see match reality.

2. You will need a signed Bill of Sale between you and your seller. Most states have simple forms on their websites, stating who, what and for how much. All states will check that the seller’s name on the Bill of Sale matches the name on the ownership documents before completing the transfer of titles and/or registrations.

3. Required ownership documents in your seller’s state. Ownership titles can be a complicated issue and lenders take it very seriously. Proving the proper ownership chain of all items (boat, motor and trailer) is necessary in all states, so check your state’s titling requirements and make sure your seller provides what you need to properly complete ownership requirements in your state. If any documentation is not properly completed, this can turn into a major hassle for the new buyer. A boat with proper documentation is always better than the alternative.

4. Any liens the seller has on the boat should be paid off first. Never give money to a person with a lien and expect them to pay off the lien. Any delay in paying off an existing lien leads to delays in acquiring the proper ownership documents. Most states have late fees for delays in completing a change of ownership, so it’s important the seller’s lien is paid off before taking possession of the boat.

Let us know how we can help!

Jireh Financial
517-888-0406

info@jirehfinancial.com