Are you in the process of buying a pre-owned boat? Do you want to know how much your boat is worth? Do you need a survey done to help with boat insurance or to get financing? If you answered yes to any of these questions, you definitely need a Baltimore marine survey. Marine survey services are offered by many people all over the state of Maryland. The problem is not every surveyor you hire will offer the quality services you need. That is why you have to be careful before choosing a surveyor. But is a marine survey worth it? This is the question this post is here to answer. We will be doing so by taking a look at the importance of various types of boat surveys.
Condition and value survey
This type of survey is requested mostly when buying a boat. It is the most comprehensive type of boat inspection. It is meant to offer a client an informed and professional opinion on the condition of a vessel as well as its fair market value.
This type of marine survey includes an in-depth visual inspection of the vessel’s structural integrity, safety equipment as well as all miscellaneous onboard systems including sanitation, propulsion, electrical, and navigation equipment. In many cases, the survey will also include an out-of-water hull inspection as well as a sea trial.
With that being said, is a marine survey worth it? The answer is a resounding yes. At the end of the survey, you will be provided with a detailed survey report. As a buyer, you can use the information in the survey report to determine if the boat you are after is in good condition. The survey report will also inform you of the fair market value of the vessel. You can use this information during negotiations. For boat owners, the survey report helps them know if there is an issue with the boat and also helps them get financing or get approved for boat insurance.
Do you want to know how much your boat is worth? If you do, the input of a marine surveyor will come in handy. Part of a boat inspection is to determine the fair market value of a boat. An appraisal may also be needed for estate settlements, financing, legal cases, and donations. An appraisal is less in-depth. The main purpose is to determine the fair market value of the boat.
Were you involved in an accident? A marine survey will help determine the extent of damage your boat incurred. The survey report will also include recommended repairs, estimated cost of repairs, and the probable cause of the accident.
There are many types of boat surveys. The type of survey you get will depend on what you need a survey for. All you have to do is find a dependable marine surveyor to work with.