1 / 15

This is how you do a pre-purchase boat survey

This is how you do a pre-purchase boat survey. original article appeared on https://www.boat-alert.com/blog/this-is-how-you-do-a-pre-purchase-boat-survey/

boatalert
Download Presentation

This is how you do a pre-purchase boat survey

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Carry out a pre-purchase boat survey

  2. Choosing a Marine Surveyor, • Understand the surveyors choices • Match the surveyor to the precise boat • Understand Surveys from both buyer & seller’s perspective Buying or Selling a Boat Requires a Survey

  3. Like an inspection for the car but for your boat If you have: • found the right boat • already looked up the HIN Report at boat-alert.com Or you are: • selling your boat and found a buyer at the right price What is a Boat Survey?

  4. Marine Surveyor’s Perspective • Tough for the surveyor • Surveyor works for the buyer • Broker and owner want to get paid for the used boat sale • Broker might refer clients to surveyor – potential Conflict of Interest • SAMS and NAMS have clear Codes of Ethics for members

  5. Surveyors are not supposed to: • Tell you to buy • Overemphasize minor problems • Downplay boat issues • Boat owners are rarely surprised by surveys. • Remember that a survey report goes to the Insurance company too. So it must be accurate. Process of Marine Survey

  6. Marine Survey Guidelines for Boats • Code of Federal Regulation (CFRs) or “Coast Guard regulations.” • requirements for safety equipment, navigation lights, sanitation, engine, fuel, electrical systems on gasoline-powered boats • Recommendations of American Boat and Yacht Council (ABYC) Standards • Additional standards by National Fire Protection Agency (NFPA) • The standards can’t help evaluate the importance of certain things when a surveyor is faced with a system on an older model.

  7. Scope of a Pre-Purchase Boat Survey A “normal” pre-purchase: • inspection of the boat to ascertain its condition • check its systems for basic operation and adherence to applicable regulations and standards • look for any warning signs which can recommend a follow-on inspection by a specialist • determine its overall value. Note: Some areas won’t be inspected and no guarantee that an electrical component would stop working in coming weeks.

  8. Classic Survey Routine for a Ship • Inspection on its hull and bottom cleaning within mid day • A hull inspection once the boat dries • Re-launching and a quick sea trial, followed by any more inspections needed

  9. Survey on large inboard boatswith expensive engines • Surveyor may suggest including an engine surveyor within the deal • This is common on larger powerboats • On sailboats, some surveyors travel up masts for rigging inspections, but it adds time and expenses Diesel Engine Boat Survey

  10. Report given by surveyor will contain: • Descriptions of the boat and each system onboard. • Findings and proposals, divided into levels of importance. • A statement of the boat’s overall condition. • Fair market and replacement values for the boat, supported by comparable sales or industry data. The Report

  11. Some surveyors use a flat rate depending on the length of the vessel. Others use an hourly rate. • A pre-purchase survey will cost about $22 per foot, it’ll be higher on larger and complicated boats. Cost of a Marine Survey

  12. Getting the most out of a Survey • Let the surveyor assess any red flags for you • If there’s a deal breaker for you, let the surveyor know first. • It’s common for the surveyor and client to agree on partial payment in case of an apparent defect. • Be there physically • Write down your questions

  13. Getting the most out of a Survey • Keep a log with all invoices for maintenance and repair work performed on the boat throughout its life. • As a surveyor, once you hear “the owner is extremely handy, and he’s done plenty of labor on the boat himself,” it’s a red flag. • Prior to the survey, clean the boat and remove any clutter. • Be available to answer questions and use common sense

  14. Facebook @boatalert Twitter @hindecoder YouTube Boat Alert FOLLOW US AND SUBSCRIBE

  15. Thank you for Listening! Full Article:https://www.boat-alert.com/blog/this-is-how-you-do-a-pre-purchase-boat-survey/ Website:www.Boat-alert.Com Email:Boatalert @certifiedreports.Zohodesk.ComContact Number:1-855-HIN-ALERT

More Related