Lessons Learned: Free is Not Free
September 18, 2024
Provide the fuWith the current glut of used, abandoned, salvaged and “free” boats that litter our Bay, here’s some little known information to help you avoid two common buying and selling pitfalls. Sad but true, here are some lessons learned. Recently the Department of Natural Resources contacted a life-long boater who in 2004 had donated her 28’ sailboat to a non-profit group. The boat, still registered in her name, was found stripped of valuables and sunk in the Magothy River. Whoever had taken the “free” boat had never re-registered the vessel, and according to Maryland State law, the last known registered owner is responsible for salvage and disposal of the abandoned vessel. It was thousands of dollars out of pocket for this unsuspecting former owner. Avoid this headache by following the DNR notification process when selling your vessel. If you plan to sell, donate or destroy a vessel, notify the Department of Natural Resources within fifteen days. Include date of the sale, purchaser’s name, address, and sale amount. Also be sure to inform the Licensing and Registration Service Center either in person (by appointment only), by fax, by mail or by emailing customerservice.dnr@maryland.gov. Never assume that the new owner will re-register the vessel.
At TowBoatUS, we get calls from customers that want to know the cost to tow a boat from one marina to another that is being offered to them for “free.” We always advise boaters to walk away from these too good-to-be-true deals. There is no such thing as a “free” boat, especially one that does not run. The engine is the most important and the most valuable part of a boat. Most marinas won’t allow a vessel to be towed into a slip for the first time. This protects the marina from being stuck with a derelict boat that can’t leave under its own power. Getting marine insurance will also be an insurmountable hurdle. And, if your dream boat project never becomes a reality, then what? Ask the guy who called our office last week for demolition services on a “Free” boat he took on four years ago. Be patient and the right boat will become available for the right price. If you must cut corners, find one that is well-maintained but may require cosmetic repair. Contact a local broker for advice on buying or selling. Marine professionals like surveyors and mechanics can also help. And, of course, we recommend that you become a member of TowBoatUS to take care of the problems that will occur out on the water. As always, happy to help.