I'm buying a boat in acouple of weeks and the broker is sending me to a documentation company. Apparently they charge from $600 to $750 to handle the paperwork. My last boat was purchased directly from the owner without any outside help. The paper we did was:
1. Coast guard bill of sale form 1340
2. I filled out the CG-1258 application for documentation and mailed it in
3. I had him get a SATISFACTION/RELEASE OF MORTGAGE OR CLAIM OF LIEN
from his bank saying that the loan is paid off. Form from coast guard site
4. He signed over the boat title on the back
Is there more that I missed? Is this worth the money?
I appreciate any guidance.
Tom
1. Coast guard bill of sale form 1340
2. I filled out the CG-1258 application for documentation and mailed it in
3. I had him get a SATISFACTION/RELEASE OF MORTGAGE OR CLAIM OF LIEN
from his bank saying that the loan is paid off. Form from coast guard site
4. He signed over the boat title on the back
Is there more that I missed? Is this worth the money?
I appreciate any guidance.
Tom