Boats have to be registered with the state, so transferring ownership is more complicated than selling a couch or old computer. When selling a boat in Florida, buyers, sellers, and brokers all have different responsibilities and roles to play. Below is a brief overview of how to navigate the legal aspects of this exchange.

How to Sell a Boat in Florida

1. Releasing the Title

For sellers, selling a boat can be relatively simple. Once your broker has negotiated a transaction, all you have to do is release the title to the buyer. You don’t need to go to the county clerk or tax assessor’s office; simply fill out the “transfer of title by seller” section on the boat’s title, which asks for the buyer’s contact information, the price, and signatures of both parties.

2. Applying for a Title

Before taking their new boat for a cruise, the buyer will need to apply for a new title at their local tax collector’s office. In Florida, buyers have to submit their title application within 30 days of the sale date.

3. Paying Taxes

If you’re using a broker to sell a boat, they’ll be responsible for collecting and submitting sales tax from the buyer. Florida’s state sales tax is 6% of the purchase price, although some counties may tack on an additional surcharge of up to 1.5% on up to $5,000 of the purchase price.
 

If you’re planning to sell a boat in Florida, World Class Yacht Sales, Inc. in New Port Richey has the tools and marketing expertise to get you a fast sale at a fair price. They’ve represented boat owners throughout the state since 1999, generating high revenues for their clients. Visit their website or call (727) 945-7500 to talk to an expert about selling your boat.