If you have been researching the processes to follow when buying a marine vessel, you have probably come across the term marine survey. This survey is an objective statement of opinion from a professional surveyor on the condition of a boat.
Usually, the surveyor assesses the entire vessel and determines whether it meets the standards set by relevant bodies. Therefore, you should have these four types of surveys carried out by the surveyor before buying a yacht.
The Pre-Purchase Survey
Many people go for a pre-purchase survey when buying a marine vessel. This survey is the most detailed one among the other alternatives. Ask for this option if you are a first-time buyer with little experience with purchasing vessels.
A professional surveyor will ensure that you understand the crucial elements that make an excellent vessel during the pre-purchase survey. More importantly, they will draft a report after the assessment, which you may need in order to get an insurance cover or a loan for the yacht.
Survey for Damage
You will need this survey if the vessel has suffered any form of damage. The survey mostly involves checking and ascertaining the extent of the damage. In this case, you will ask the surveyor to offer their expert opinion on the cause of the damage. Then, they will assess the vessel and give their professional report backed with the facts gathered from the boat.
Besides that, the surveyor also gathers evidence to substantiate any claim that they make in the assessment. You can use this type of report for litigation and other legal processes. You may also ask the professional to recommend the repairs that would restore the functionality of the vessel.
Condition and Value Survey
As a client, you can also request a valuation for your vessel. The valuation aims to help you handle financial matters regarding the yacht. For example, you may require this assessment for the probate process. You might also need a valuation inspection when dealing with financial institutions. In both cases, you should clearly state how far the assessment should go.
Inspecting Equipment
A vessel contains many intricate parts working together. For that reason, you should conduct a thorough inspection of the vessel to ensure that all the components are in excellent working condition. In this case, the surveyor checks the electrical systems, ancillary equipment, and other systems before making their report.
Consult a trusted and certified marine surveyor for any of the above marine surveys. They will help you make a wise purchase and offer you valuable advice about the vessel.