I believe that I have my boat sold, and I was hoping someone could give me some insight into selling a boat that the bank has a lien on. I have sold boats and motors in the past, but none that I didn’t own outright.
I think what I need to do is go to my bank with the buyer and hand them the check to satisfy the note.
Then for the buyer and myself, I think he needs a DNR true bill of sale and I need a Lien satisfaction form signed by my bank. Afterwards I have to inform DNR of the sale within 30 days.
Is this the total process, or am I missing something?
i know you have to notify dnr of sale in writing w/ in 15 days. The fax number is 8439539028, note the boat and motor registration numbers. Dnr has the bill of sale they want you to use on their website : http://dnr.sc.gov/boating/boatingforms.html?calendar_id=2&approved=1&dropdown=1
Put your bank and the buyers bank in touch with each other because, buyers bank will want title info, etc. before issuing check unless he uses cash then do what you said. He will need copy of DNR bill of sale to operate boat (up to 60 days). I just sent a title tranfer in last Friday and recieved new titles yesterday so they are fast right now. If he is just transfering, it will cost him $26.
hope this helps
correct. take the buyer to the bank that has the lien. if they are financing it, their lender will likely require it anyway. it protects you and the buyer… the bank will send the title directly to the buyer (or lender).
