mvoellinger
Member
Hey everyone, didn't want to jinx it but my boat is under contract. The new guy is approved for it but his lender wants a FL title. My boat is documented. So it looks like we will have to do a deletion from documentation.
heres the problem - I don't owe a ton on it, but my company is shakey right now and I don't want to tie up any liquid assets into the deal if it falls through. So this is my understanding, and the problem comes with time frames:
1) pay off loan using his money from his lender, get mortgage release
2) submit deletion of documentation to CG with mortgage satisfaction document
3) request FL title once undocumented
is this right? Some questions here - how long do banks take to release a mortgage? Can they just fax to the coast guard the same day? I show the CG is showing 6 days behind right now on deletions with fees. Once the CG undocumentes do I then request a title from FL or does CG issue or what? How long do lenders generally give for leniency between issuing the check and when they expect a clear title?
thanks everyone....sorry for the rambling, just got off a 9 hour London to Miami flight.
heres the problem - I don't owe a ton on it, but my company is shakey right now and I don't want to tie up any liquid assets into the deal if it falls through. So this is my understanding, and the problem comes with time frames:
1) pay off loan using his money from his lender, get mortgage release
2) submit deletion of documentation to CG with mortgage satisfaction document
3) request FL title once undocumented
is this right? Some questions here - how long do banks take to release a mortgage? Can they just fax to the coast guard the same day? I show the CG is showing 6 days behind right now on deletions with fees. Once the CG undocumentes do I then request a title from FL or does CG issue or what? How long do lenders generally give for leniency between issuing the check and when they expect a clear title?
thanks everyone....sorry for the rambling, just got off a 9 hour London to Miami flight.