Selling to a USCG and Texas registered boat to someone living in Mexico

[MikeHoncho]

This is a USCG documented boat? If so the title transfer is really weird but for the buyer. When I bought mine I had issues (personal) with doing the process and not getting a title and waiting months for anything from USCG regarding the new documents. The whole time you don’t have anything saying you own the boat other than the purchase paperwork and a BOS.

 

[Tally Ho]

The buyer used to live aboard a trimaran in Kemah and that is where his credit union is, he is a retired American citizen living near Cancun. So I am going to take him sailing next Tuesday. If all goes well I will deposit the check into my bank on Tuesday. My bank says it will call his credit union to verify funds before clearing it (1-2 days). Once cleared we will go to my bank to notarize bill of sale and registration. So, we'll see how it goes.

The sad thing is, I am only selling because i have mobility issues and cannot really enjoy sailing while in pain. That boat was my last boat and was supposed to be around another 20 years.

Make him cash the check at his credit union, then pay you in cash.

I bought a boat once that the seller had a lien on…the bank wouldn’t give me title because my check had to clear first, and I was unwilling to give the check without getting the title (the seller was supposed to pay off the lien before I came to purchase the boat)….we ended up cashing my check at my bank, took a sack (brown paper bag literally) of cash to his bank, paid the loan off, seller kept the rest of the cash, and walked out with the title. A happy ending, but a little unorthodox.

You have to be careful…some offered me a check for a boat I had for sale, paid more than asking price “so I could arrange to ship it”. I called the person whose name appeared on the check, and she said…”that account was closed a year earlier for fraud”…she was just thankful someone wasn’t using her new account.

Get cash!

Greg

 

[Ralph Johnstone]

If you shake hands with him, be sure to count your fingers afterwards .

 

[Crusty Ol Salt]

I bought a boat once that the seller had a lien on…the bank wouldn’t give me title because my check had to clear first, and I was unwilling to give the check without getting the title (the seller was supposed to pay off the lien before I came to purchase the boat)….we ended up cashing my check at my bank, took a sack (brown paper bag literally) of cash to his bank, paid the loan off, seller kept the rest of the cash, and walked out with the title. A happy ending, but a little unorthodox.

Greg

When I bought Prometheus, The title was held by USAA. They have one ATM in the area and no branches. Freaking online banks. He wanted me to give him the money. He would payoff the loan. Then in a couple of weeks, he would give me the title. No way that was happening. So the seller took a loan against his 401k. Handed me a clean title and I paid him cash.

Worked for me.

 

[Scott T-Bird]

Update: the buyer has bought a one way ticket, hotel and rental car reservations in Corpus. I believe he is coming up to buy a boat! I'm gonna ride this out and see what happens. I would certainly not commit so hard on a boat i had not seen in person, but to each his own.

She's a beautiful boat! I feel bad ... you're going to miss her. My uncle introduced me to sailing on Lake Michigan on a Newport 30. It had to be among the first built, as it was in the late 60's when they bought the boat new. They had the boat for more than 40 years in Monroe Harbor all that time. I loved that boat, too! My aunt and uncle are in their 90's now, so sailing kept them young I think!