How Long Does It Take to Sell A Boat? [Process + Timelines]

July 16, 2019 3:17 pm

Yacht Selling Process + Average Timelines

Perhaps you’ve looked into selling or trading in your boat for a newer model. If so, you’ve most likely asked yourself, “But . . . how long will it take to sell my boat?”

There isn’t a one-size-fits-all answer to that question. Sometimes, newer or updated boats sell quickly, while other times an older boat is sold quickly. There’s no rhyme or reason other than who is in the market for what, and how active brokers in the area work to connect their buyer to the right boat.

When it comes to how long it takes to transfer your boat from you to the buyer, that has a more consistent timeline.

At Denison, we have closed deals in one day. The average deal, however, normally takes three weeks from the moment we receive the deposit. This gives our clients the time to survey the vessel and make the right decision. Additionally, we always try to accommodate our closings schedule to our buyers and sellers expectations.

Denison’s Display At The 2019 Palm Beach International Boat Show

Documentation takes the most time during a closing. Emma Vasquez from All Oceans Closing says, “Our job is to see if the vessel that is being sold has any liens on it. If a boat is or was Coast Guard Documented, this is referred to as an Abstract of Title and can take anywhere from 3-7 business days to return to us. If a boat is Foreign Registered, the lien search is referred to as a Transcript of Registry and can also take up to a week to come back. For boats that have never been Coast Guard Documented, the lien search with the state only takes a few minutes to receive results.”

Emma goes on to say that, “We are also responsible for reaching out to the buyer to determine how they want to own the vessel, whether that be in their individual name, joint ownership, a company, or a trust. If it will be owned by a company or a trust, we will need to see the appropriate documents reflecting who is able to sign on behalf of the entity. Once we have all the lien searches and necessary information from both the seller and the buyer, we then create the necessary documents such as Bills of Sale and Warranty of Title for the seller. Finally, we create any applications for federal or state (this depends on whether the buyer wants to Coast Guard Document or state title the vessel) for the buyer.” As you can see, this process varies.

If you are looking to sell your boat and want a more accurate estimate of how long it will take to sell, contact one of our expert brokers today.

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