ANNAPOLIS, Md. - TelAve -- ClosemyBoat.com today launched a nationwide escrow and closing service built for private-party boat sales, giving buyers and sellers who meet through online listings, marinas and word of mouth the same protections that dealer and broker transactions have long provided.

Boats change hands between private parties every day in every part of the country, yet those deals have traditionally closed with little more than a handshake, a bill of sale and a payment sent on trust. ClosemyBoat.com replaces that uncertainty with a structured closing process:

• Escrow: The buyer's funds are held and released to the seller only after the title is confirmed clean and the deal's conditions are met.
• Title and lien checks: Ownership and any outstanding liens are verified before money moves.
• State-specific closing packets: Each transaction receives the paperwork required by the states involved, so out-of-state deals close as cleanly as local ones.

"We are changing the industry. Private boat sales are plentiful all over the country, but dealer and broker deals have always had escrow and formal closings while private sales have had none. ClosemyBoat.com brings that protection to every buyer and seller, wherever they are," said Donald Morrell, founder of ClosemyBoat.com.

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The need for safeguards in person-to-person transactions is growing. The FBI's Internet Crime Complaint Center (IC3) received 56,478 non-payment and non-delivery complaints in 2025, up about 14% from 49,572 in 2024, according to its 2025 Internet Crime Report. Those figures span online transactions of all kinds rather than boats alone, but they underscore the risk of sending money to, or accepting payment from, a stranger without a neutral party in the middle.

Cross-state sales add another layer of complexity. Registration, titling and documentation rules differ from state to state, and a mistake can leave a buyer unable to register a boat or a seller still on the hook for it. ClosemyBoat.com's state-specific closing packets are designed to remove that guesswork.

Pricing is a flat 1.5% of the sale price, with a $300 minimum and a $3,000 cap. On a $40,000 boat, for example, the fee is $600.

Buyers and sellers can start a closing at ClosemyBoat.com.

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About ClosemyBoat.com

ClosemyBoat.com is a Maryland-based company providing escrow and closing services for private-party boat sales nationwide, including transactions across state lines. Its services include escrow of buyer funds until title is confirmed clean, title and lien checks, and state-specific closing packets. Learn more at https://closemyboat.com.