Thread: Documentation
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Old 09-07-2016, 03:05 PM   #1
holty
Veteran Member
 
City: Huntington NY
Vessel Model: 2003 30' Pilot II 6LPA
Join Date: Aug 2016
Posts: 79
Documentation

So we found a nice 30 Pilot II in Maryland and made a deal. 20% down and financing the balance over 15 years. Used a reputable boat broker for the financing and closed the deal today. At the closing the broker asked for $595- to have the documentation done. Not expecting this and not having anymore checks with me he said I could mail it to him. So me being the wondering type I started wondering why the fee was so high. At home I jumped on the lap top for the number to the National Marine Documentation center. Called them and they said the fee was $84--??? I questioned the broker and was told the documentation must be done by a company with"errors and omission insurance". After numerous calls to the lending bank with no good answers I called an independent Marine documentation company. I was told the $595 fee was fair and this process was similar to using a title company when securing a mortgage. Who else has had to go through this? I thought I had all my ducks in order. Thanks

regards Holty
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