If you are buying or selling a used boat, you might want to consider getting a boat survey conducted by a certified marine surveyor before you move forward with the transaction. If you are using financing or credit through an agency or company to buy the boat, this survey might even be required before you can get the funds you need. If you've never gone through this process before, here are some tips to keep in mind.
Make Arrangements to Get the Boat Out of the Water Before the Surveyor Arrives
Whether you are the current boat owner and getting a survey to give potential buyers more confidence or you are the one buying the boat but want a survey before you complete the transaction, you will need to make sure the boat can be inspected from all angles, and that means making sure the boat is completely out of the water before the surveyor arrives. The surveyor will want to check the underside of the boat and any equipment that is normally underwater when figuring out the boat's current value. For example, a boat underside that is badly rusted or has other flaws will obviously be an issue and reduce the boat's value. Don't try and hide anything from the surveyor if you are the current boat owner and make sure the boat is out of the water for a complete inspection before the marine survey expert arrives.
If You Are the Current Boat Owner, You Should Be Available During the Inspection But Be Sure to Give the Surveyor Room to Do His or Her Job
Both the current boat owner and the potential new owner can be present during the marine survey if desired. The current boat owner can provide additional information as needed and the potential new owner may have specific questions that a surveyor can help answer. Both parties should be sure though to stay out of the way and give the surveyor room to do his or her job. This includes being able to inspect the boat from all angles as previously described. If you are the current boat owner and know the boat has a flaw or two, be upfront about this instead of hoping the surveyor doesn't notice it, being honest and upfront will give the potential new owner additional confidence in their potential purchase.
The Survey May Only Satisfy a Financing Company or Possible Buyer for a Certain Length of Time
When the survey is completed, it will typically be dated. A boat survey is a snapshot of what the boat is approximately worth on that specific day. If you are the person potentially buying a used boat, your financing company may only accept a survey conducted within the past so many days. If you are the current boat owner who is looking to sell, keep in mind your survey may only inspire confidence in a potential buyer within a certain timeframe.
For more information, contact a marine surveyor near you.
