Hello group, Elizabeth and I are going to buy a used boat to live on between
now and the end of the year when we are retiring.  This is a big purchase
for us and I have been going over our boat buying budget to make sure we
have every thing in order before I make an offer.  This is our first big
boat and I have some questions about buying the boat.  First off I am trying
to make sure I have enough money set aside for the transaction.  I know I
will need to purchase insurance.  I have been told to expect to pay 1 to 1.5
percent of the value of the boat for insurance. Does that sound about right?
I have budgeted money and time to purchase fuel and slip rental for the trip
to Morehead City, NC where we own a slip.  Most of the boats that we are
looking at have adequate ground tackle, dock lines and safety equipment. We
may need to purchase some charts.  On a Coast Guard documented boat what
expenses are involved in transferring ownership?  The boat will most likely
be purchased either in Florida or Maryland and I will be moving the boat to
North Carolina where there is no sales tax on a used boat.  What expenses am
I missing that are related to transferring ownership and getting the boat
home?

I value the collective experience and wisdom of this group.

Still Boatless in Mt. Airy, NC

Shay and Elizabeth Glass

Shay and Elizabeth:

I believe that the USCG document transfer fee is $150. Although there are plenty of documentation companies that will do it for you for about $300 total, you can do it yourself. But first order online an abstract of title for the boat. If there is any lien, it will have to be paid off as part of the transfer process. You will need a bill of sale, I think there is a sample on the CGs site. Send the bill of sale, the form that you can get online and $150 and your title will be transfered (assuming no lien). If there is a lien I would then use the BoatUS escrow service to handle the lien payoff.

You will need to remove the boat from Md or Fl in about 90 days to avoid paying sales tax

If you are buying through a Md broker they know how to do all of this. I used to work for one.

David

-----Original Message-----
What expenses am
I missing that are related to transferring ownership and getting the boat
home?

Shay,

I just went through the boat-buying experience in June. I did the paperwork
to transfer the documentation and it was easy.  The Coast Guard fee was $121
and that included an extra endorsement.  The documentation papers came back
to me in less time than I would have expected them to get to West Virginia
and back.  I had been told that the advantage of using a documentation
service was that they would give me a temporary document that I could use in
the six months or so that the Coast Guard would take.  I was amazed when I
got it back within ten days.

Expenses to get the boat home depend on many factors that are hard for
someone else to estimate.  I spent $400 on batteries before I left Palmetto,
FL headed to Brunswick, GA in July.  We anchored 8 nights and spent one in a
marina during the trip.  Other than fuel and groceries, we didn't have any
significant expenses.  It wasn't until I got the boat to Brunswick and
started having the "little things" done to the boat that the money really
started to flow out.  But I'm 1,000 miles away from the boat and I would
rather pay to have the work done now than spend the time doing it myself
when I get down to use the boat.

Make sure the seller has his yard bill settled before you release the funds
for the purchase.  Even if the yard doesn't have a lien on the boat, you
don't want to fight over unpaid dockage or storage fees.

Also, make sure you have a tough, competent surveyor.  He won't be doing you
any favors if he gives the boat a pass on things that will cost you money
later.  I saw some unbelievably lax surveys when I was shopping.

Good luck!

Dick and Bev Allen
Bristol 42 "Sunshine Girl"

Snip:"...The boat will most likely

be purchased either in Florida or Maryland and I will be moving the boat to

North Carolina where there is no sales tax on a used boat.  What expenses am

I missing that are related to transferring ownership and getting the boat

Home..."

Good rule of thumb on insurance cost given you will not be cruising in the
hurricane zone during the restricted time.  On surveys, some insurance
companies require a survey prior to insurance so find try and locate a
surveyor who is competent and approved by most insurance companies.  Also,
know there are two types of surveys, general boat and mechanical engines).

As a side note don't restrict the search to just Florida/Maryland, I was
very impressed with the quality of boats in the Great Lakes Rivers...(all
fresh water). The boats I saw had minimal use for their age as the season
there is only 2.5 and long then many boats are hauled and put up in heated
storage.

Navigation from Maryland/Florida is simple for your trip. A laptop, with
coastal explorer(all charts needed included) hockey puck GPS can be had less
than $1000 new and serve as a good back up for whatever system comes with
the boat. Understand that in a used(new for that matter as well) boats
access to systems/subsystems for maintenance and repair is important.  The
easier the "fixit" guy can access a system, the faster(hourly rate$$) and
more accurate a job the job can be performed.  As a static live-aboard you
will put strain (use a lot) on certain critical systems in (my) order of
importance: sanitary/head, potable water, HVAC, food storage/prep systems.
Significant others get very, very cranky when these fail and are not fixed
quickly.  As a cruising live-aboard those same items apply with the
additions of systems to make the boat move, turn, and anchor.  Remember,
every system in a boat needs maintenance, repair and replacement at some
time. There is always a maintenance cycle the boat and systems go thru...no
rule of thumb as varies with the system.  But be assured you or the yellow
pages guy will be trying to access every connection pipe, plumbing
attachment, pump, motor, compressor, etc. at some point.  Some boat designs
make it impossible to access some systems/subsystems without tearing out or
removal of flooring, walls or other equipment.  IMHO mechanical pragmatism
always rules over glimmer and glitz so is a very important factor in the
boat choice decision.

Good luck with the hunt...lot's of good used boats on the market,

Joe

M/V "Carolyn Ann" GH N-37

MTOA# 3813

AGLCA# 5485 (Gold Looper)

CarolynAnn-N37.blogspot.com