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Yacht Brokers Advisor
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► YACHT BROKER SERVICES |
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LEGAL FORMS PACKAGES
BACKGROUND REPORTS
BOAT INSURANCE
BOAT LOANS
BOATING SUPPLIES
BOAT WEAR ONLINE
BOATER EXAM |
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Are boat
history reports completely reliable?
- Boat history search and report services are a valuable
tool for yacht brokers seeking background information on brokerage
boats.
However, these should never be relied upon as conclusive evidence
that any particular boat has a clear history. Although our BoatScope
database service provides an enormous amount of historical data, it
also comes with some very strong caveats. Information gathering on
boats that have been stolen, damaged, auctioned, recalled, and those
which have been involved in accidents or other incidents is not an
exact science. Governmental data sources are rife with errors or
omissions and there are simply no other resources that offer
complete or unequivocal information regarding the historical aspects
of any boat.
Do you have a Coast Guard documentation database? -
Our very own BoatScope service offers the internet's most
comprehensive Coast Guard Vessel Documentation database. It contains
ownership and vessel records for currently documented vessels and
most of those which have dropped out of documentation over the past
ten years. With nearly 500,000 documentation records, this makes it
the largest and most exclusive vessel database available to the
boating public.
Do you have a
state level boat registration database?
- Although our BoatScope database service contains records for
Coast Guard documented boats, it does not offer ownership and boat
records on the state level. This is due to very strict
anti-disclosure laws which are now in effect for most jurisdictions.
BoatScope does however provide instructions, forms, and contact
information for conducting record searches and obtaining print-outs
from every state nationwide. In fact, our service even contains such
information for most foreign countries.
Do you have an affiliate program for yacht brokers?
- Although we have a great web partners program, it does not afford
direct financial incentives for referrals to our site. Instead, we
offer yacht brokers the opportunity of gaining exposure to
prospective boat buyers from all over the world. MarineTitle.com is
now the internet's top ranked source for Coast Guard vessel
documentation and boat registration information. Our link exchange
program not only offers mutual prospecting benefits, but is a great
customer service for boat buyers who are seeking this type of
resource. We invite you to join our web partners program today by
clicking on the link shown below.
Do you
offer a
mailing list of all boat owners?
- Our BoatScope database service can easily facilitate
ownership mailing lists for vessels which are documented with the
U.S. Coast Guard. It also has an exclusive feature which includes
records of those which have dropped out of documentation over the
past ten years. Ownership listings for state registered boats are
however not generally available to the boating industry. This is due
to strict anti-disclosure laws now in effect for most jurisdictions.
As for those few states that do provide such lists, the cost is very
prohibitive and may run into thousands of dollars just or a single
subscription. BoatScope does facilitate instructions, forms, and
contact information for obtaining individual boat records from every
state. Other internet providers that offer state level boat
owner listings should be approached with caution as these are
usually incomplete, outdated, and very expensive.
How
important are valid notarizations on boat forms?
-
In today's busy environment, signature acknowledgements are often viewed
as stumbling blocks in getting through a myriad of paperwork that often
accompanies vessel transactions. This is especially evident when forms
are transmitted long distance for execution in remote areas where public
notaries are less than accessible. A valid acknowledgement is however, one of the most critical elements of any document
when it comes to protecting the interests of a vessel buyer, seller, or lender.
Should we
accommodate boat paper trades?
- Paper trades are quite workable from a boat titling and
registration perspective. Coast Guard and state boat registration
agencies are only concerned about the necessary transfer documents
to constitute a complete chain of ownership as it is portrayed on
paper. However, the respective tax collection agency may dispute a
tax reduction under such circumstances if it is not a bona fide
trade. The determining criteria is typically based on whether the
seller truly stands to gain a profit or suffer a loss from accepting
the trade-in. At best, the trade should be shown in the purchase
agreement and settlement statement of the original boat transaction.
Brokers
who operate in those states which do allow trade-in tax reductions
should accordingly take a very close look at the tax agency's
policies in this regard.
Should we
discourage Coast Guard documentation?
- The benefits and disadvantages of Coast Guard
documentation can vary significantly depending on the buyer's
circumstances. Documentation is of course a moot point if the boat
is less than approximately 25' in length or the buyer is not a U.S.
citizen. On the other hand, it would be an absolute necessity if a
qualified vessel is to be used for commercial purposes or a lender
is requiring a preferred vessel mortgage. As a general rule, it is
best to always have a previously documented boat re-documented as a
matter of title continuity. In any event, your buyer can make an
informed choice by visiting our Federal and State pages. These will
provide all of the facts and information necessary for making such a
determination.
What is our obligation for clearing titles on brokered boats?
- Although governing regulations will vary by state, a
yacht broker or salesperson should become well versed on boat
titling as a matter of professional acumen. This is especially true
where a broker will be acting as the closing, settlement, or escrow
agent. Given that boat title research and ownership methods can be
extremely complex, many brokers will rely on experienced boat title
specialists for assistance with these matters. You can also gather a
great deal of insight on this subject by spending some time on our
web site. With regard to potential liabilities, this is an issue
which should be thoroughly investigated through trade association
resources or by consulting with an attorney.
What type
of yacht broker services do you offer?
- As a web based enterprise, our services are mostly comprised
of economical self-service kits,
downloadable forms, and handbooks which can be accessed directly from our site.
Plus we offer our BoatScope service, the nation's largest searchable
online boat record database. As for full-services, we have partnered
with a very good boat title company that can provide a complete
range of vessel documentation and nationwide state level
registration services. Each service listed on our site has a
corresponding option for obtaining a full-service quotation.
Where can we find professional boat escrow services?
- You will not find the equivalent of typical real estate
escrow companies in the marine industry. As a yacht broker, this
narrows your options to boat title companies, marine lenders, or
perhaps an attorney who is willing to become involved with such
transactions. Given an increased demand for this type of service, we
now see a growing number of boat documentation companies that are
willing to accommodate these needs. However, this can be a risky
proposition for both you and your clients. These enterprises may
have the necessary expertise in handling boat titles, but there are
no governmental oversights or financial bonding requirements
whatsoever to hold them accountable. Although marine lenders and
attorneys are more closely regulated, many are unfamiliar with boat
transactions. You may therefore wish to give these issues a lot of
consideration before outsourcing any boat closing, settlement, or escrow activities. |
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