^ I think what James is saying, is if the boat is worth, say $20k but the seller will let you have it for $7k.... be careful, usually a deal that is 'too good to be true' is just that! You might be buying a cheap boat that has a lein on it for, say, $20k..... so along with the boat, you also buy the outstanding debt, so you will end up paying $27k all up for the boat :shock:
I am sure some unscrupulous buyers of suss boats would get them to their home state and toss the trailer plates, remove any id numbers and register it as an unknown built trailer..... then remove the HID and engine numbers, thus making the boat un identifiable to lein holders, then register it as an unknown built boat in their own state....... But this is obviously illegal in some way, even tho the buyer has bought and paid for the boat in good faith......
I, of course, am not suggesting for an instant that you do anything illegal to protect your purchase from possible attached debt, No sir/ma'm, I would never suggest you do anything illegal, that would be wrong of me.... I am just pointing out to you what I have heard does go on :roll: :wink:
I would suggest tho, that you check what numbers are on the boat/trailer & check with the sellers local sheriff to see it is NOT STOLEN..... big companies are geared to loose some cash, but it honestly would be terrible to buy a boat in good faith, then finding someone on here has reported their boat stolen.... & it sounds just like the boat you bought :shock:
On the bill of sale, make sure you get proper id of the seller (dont meet and do the deal at a gas station etc) if you do the deal at a private home, make sure the address is the same as the sellers id, write down car/truck tags of vehicles in the driveway, or the seller steps out of.
Also, have the seller write on the bill of sale "this boat (description/numbers) is FREE OF ALL DEPTS & ENCUMBERANCES" ..... in other words, no other party has any interest, financial or otherwise, in the boat. Then get them to sign that bit as well as the whole doccument.
If it were me, I would look at the boat, see it run, best to water test it (to see if it floats) run it normally for at least an hour (to see if it overheats/explodes) If it passes those tests and you want to buy it, suggest the seller brings the boat to the local sheriffs office to get it checked for being stolen or not, once this is verified, get the sheriff or a deputy to witness the seller sighning the BoS & the bit where it says "free of all encumberances", then pay the cash.
If the seller REFUSES to accompany you to the sheriffs office, especially with the boat.... the deal is SUSPICIOUS, to say the least... then the choice is yours how you proceed & what steps you take when you get the boat to your home state.... again, I say, I do NOT reccommend you do anything against the law, in any way. :mrgreen: