If you are currently on the hunt for a new boat, then it is worth remembering that most of the story of any vessel can’t be told just from looking at it in its current condition. You should never buy any vessel without a thorough knowledge of it and its history. Even the best-looking vessels on the dock can have problematic hidden pasts, and one of the easiest and most sensible ways to fully check out every aspect of a boat’s history is by looking at its Abstract Title.
An Abstract of Title is an extensive record of all information submitted to the United States Coast Guard for any given boat during registration and ownership changes. It contains all owner information and also flags up any kind of mortgages and liens that might be attached to the vessel.
To make sure that you do your due diligence on the matter, here is some guidance on what to do if you need to ask the question ‘How do I get an Abstract of Title?’.
Go Through A Broker
The easiest way to go about getting your hands on an Abstract of Title is to enlist the service of a company that is essentially considered to be a broker. The cost of engaging a broker will vary from company to company, so it is worth shopping around to find a price that best suits your budget. Don’t be fooled by the varying prices and levels of detail that you might receive from a more expensive offer. No matter what you pay, you will end up with exactly the same report as much of the information comes from the same resource.
How Much Will It Cost?
As we said, prices do vary for the task of retrieving an Abstract of Title, but in general, you can expect to pay somewhere in the region of $50 to any reputable company that can complete the job for you. Though the average is around $50, you will notice that the more brokers you investigate, the more prices you see. The cost can range anywhere from $50 all the way up to $80 for exactly the same service.
How Will You Receive The Report?
Once you’ve directed a broker to conduct the search, an Abstract of the Title can be delivered to you in a number of different ways. It can be returned in the form of an email, fax, or even regular mail if you prefer hard copies rather than printouts from your own records. Of course, opting for an online method such as email is always going to be the most recommended in the modern business landscape, as it provides you with immediate access to the documentation that you need.
For plenty more information about the question ‘How do I get an Abstract of Title’ and many others, a great resource for everything vessel admin related is the National Documentation Portal. Don’t hesitate to get in touch with a member of the experienced team if you have any questions that you still need an answer to. We are ready and waiting to assist you with anything boat and vessel related.