How to Sell a Boat With a Lien

Navigate the Process with Confidence

Don't let a lien hold you back from selling your boat. Below are some key steps to navigate the process and ensure a successful transaction.

Know What You Owe

Knowing how much you still owe on the boat is essential so you can properly price it. If you have financed the boat through a bank, you must request a 10-day payoff quote. This critical first step ensures you have accurate information to work with throughout the selling process.

Choose Your Approach

When selling a boat with a lien, you have a few options available to you:

• Pay off your lien completely before the sale
• Use the buyer's money to pay the lien during the transaction
• Have the buyer write two checks - one check made out to you, and the other directly to the lien holder

Each approach has its advantages depending on your financial situation and the buyer's preferences.

Ensure a Smooth Transfer

To protect your boat sale, ensure all necessary documents are signed and notarized. If your buyer is paying off the lien, we advise conducting the transaction in coordination with the lender. This collaborative approach helps prevent any complications and ensures all parties are protected throughout the process.

Professional Assistance Available

Selling your boat is still an option even if you owe money on it. The process may seem complex, but with the right guidance, it can be straightforward and successful. Work with Northern Boat Brokerage today for a seamless selling experience that takes the stress out of navigating liens and financing complications.