Getting Closer to Ownership

Friday morning was a flurry of focused activity as we prepared for a 9 hour “speed run” to Georgia to drop off the last few items we needed to return to family or store for us for a few years.  There wasn’t much to bring down, other than a bed, some cast iron skillets, and a couple of Persian rugs Peter picked up while deployed overseas a few years ago, but this would be an excellent excuse to get out of town and visit with his family for the weekend.

While he packed an overnight bag with basic essentials, I was on the internet and the phone, trying to put together the final packet of information needed by Essex Credit for our loan.  We needed to send the following: copies of our drivers licenses, proof of boat insurance, proof of where the boat will be kept, the boat title and registration, a signed survey from an accredited surveyor, and the copy of the bill of sale.

I called our BoatUS rep and activated the insurance policy on the boat we don’t own yet.  Isn’t this a funny thing to do?  But it was on the list of required things, and Sleeping With Oars mentioned in a blog post that he had to do it too, so I guess this is just one of those things that happen.  I also contacted the Broker and requested copies of the title, which he scanned and emailed to us.  We had the survey already, along with the original sale agreement papers and our conditional agreement to purchase the vessel.  Oh, according to the surveyor, the owner had proved the items on our conditional agreement work,  but the surveyor would not be updating our survey report to reflect the changes. I put together the rest of the packet, attached all scanned documents into the email to our loan rep, and managed to press the send button just as Peter jangled the car keys to indicate it’s time to go.

Four hours later, while traveling down I-95, I called our loan rep to ensure she received our documents. She confirmed everything looked good and she’s sending the package to the underwriters.  We should be getting the loan within 7-10 business days.  All that remains financially on our side is to provide the rest of our down payment.  We will wire that money from our bank on Wednesday.

We’re almost boat owners!

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