You have taken the time to find the yacht or vessel that you have always wanted to buy, and you can get it for a good price from the previous owner or a broker. The excitement is building as you get closer and closer to finalizing the deal, but there is going to be a lot of paperwork that you need to sort out, particularly if the boat is already documented with the U.S. Coast Guard (USCG) or you are planning to get documentation for the vessel yourself from the USCG. To get everything in order and make sure that there are no outstanding mortgages and liens on the boat before you get it, you are going to need to go ahead and file a USCG satisfaction of mortgage form with the Coast Guard.
Paperwork is Crucial in a Boat Sale
Getting all the right paperwork is crucial when you are buying a boat, and a great deal of the transactions can be dependent upon having all the proper documents in order and filed with the Coast Guard. Many lenders will not give you a loan for a boat purchase unless they can see that previous mortgages and liens on the boat from other sellers have been satisfied. This documentation can come from the Coast Guard if the boat has been documented; however, if the proper paperwork has never been submitted to the Coast Guard in the first place, it can cause all kinds of headaches for you with your transaction.
Getting the Filing Done
Filing a USCG satisfaction of mortgage can be a little confusing because there is no government form that is used for this process. Even though there is no standard form, the Coast Guard requires certain information on the filing in order for it to be recognized. So how are you to know what information to include and how you should move forward? At this point, this is where we can help you at U.S. Vessel Documentation.
Get the Process Done Right
If you are in need of help filing a USCG satisfaction of mortgage form, at U.S. Vessel Documentation, we are here for you. We file paperwork on behalf of clients with the Coast Guard, including satisfaction of mortgage forms and have our form that provides all the important information needed. You can easily apply online or contact us at 866-981-8783. and let us take it from there so we can make sure the paperwork is done right, received and you can move forward with your purchase without a hassle.