Does this sound like there are hidden taxes or fees of some sort they are convemiently not mentioning? Anyone familiar with purchasing a boat in Mexico then bringing it here?
This is the basic procedure that we use here in Mexico to transfer ownership of Vessels. Please let me know if you have any questions.
First an offer has to be made to purchase the boat. This offer can be made sight unseen pending personal inspection of the boat. Also it is usually written in subject to Sea Trial and Survey. The Seller has to accept the offer or give a counter offer. Once basic acceptance of price and terms is made between the two parties then the Visual Inspection, Sea Trial and Survey can proceed. The Sea Trial usually is first before the survey if the vessel is in the water. If the vessel is stored on the hard the buyer has the option of doing the survey first.
When those are completed then the deal is either accepted or renegotiated if a problem is found or you can withdrawal your offer. Normally before the Survey and Sea Trial a Deposit is made of at least 10% and wired to an escrow company. This is refundable if the deal does not proceed. After the Survey and Sea Trial and the final acceptance is signed then we transfer the rest of the paperwork to an escrow Company to protect all parties. The money is held in trust till the legal paperwork is completed by both parties. The buyer then wires the balance to the title and escrow company. Once all legal paperwork is completed then the title or Documentation is transferred, a Bill of Sale is given and the Money is deposited in the sellers account by the escrow company.
The Seller is responsible for the commission to the brokerage and the slip rent or storage till time of close. A full accounting by the escrow company is given and agreed upon by both parties before the close of escrow. The buyer is responsible for the Haul out if needed, survey and closing costs. The slip rent or storage to the buyer starts the day the deal closes.
After you receive your New Documentation or Registration then the old paperwork from Mexico with the previous owners must be turned in and you must apply for a new Temporary Import Permit for the boat in your name in Mexico. This is done as an offshore delivery which we will explain in depth at a later date. It must be an offshore delivery as it is technically illegal to Buy and Sell a foreign registered boat in Mexico so transfer must be made offshore and no money changes hands in Mexico.