Purchaser Services

---

 There is no substitute for experience. Our staff has more than 35 years of experience federally registering vessels and perfecting lenders' security interests through a Preferred Ship's Mortgage.

 A third party insures that floor plans and existing liens are promptly paid off. No delays will occur due to inexperience or work backlogs in dealer staff. Any disputes between dealers and purchasers will not affect lender security.  

 The validity of the lender's First Preferred Ship's Mortgage is protected by Errors and Omission insurance for up to $1,000,000.00 per incident. 

 Individuals purchasing boats frequently call our office seeking information concerning marine financing. Depending on the type of yacht, we can recommend lenders that can best serve them. 

 As a service to the Dealer or Broker, we prepare any applicable documentation for the purchaser. Including the Coast Guard Bill of Sale, Satisfaction of Mortgage, and Bill of Sale, as well as documents for vessels being traded in. 

 Marine Documentations provides a Letter of Instruction with the closing package to the lending officer. This letter provides detailed assistance to the lender in order to ensure all documents are properly executed.

After closing and receiving all necessary paper (i.e. Builders Certificate, Satisfaction of Mortgage), transactions are filed promptly with the United States Coast Guard. In instances where the vessel is to be re-documented, the mortgage is filed with the initial application. 

 In the event the customer wishes to refinance his note for more favorable terms, our Ship's Mortgage remains in full force and effect to secure all future advances, renewals or extensions of the secured note. This allows for refinancing without expense to the customer. Because the original mortgage does not need to be satisfied and re-filed, the lenders' security position is not jeopardized by the possibility of intervening mechanics liens since the previous Mortgage was filed.