If you are in the market for a used boat, you will have to enlist the services of an experienced and reliable boat surveyor Fort Lauderdale. The surveyor will serve as your consultant. He will help you understand precisely what type of investment you are about to make. Surveyors do this by giving unbiased insight into the vessel. Away from that, let’s take a look at some of the most important questions you must answer when buying a secondhand boat.
How much is it worth now?
You don’t want to sign the final paperwork only to learn that you overpaid for a boat, do you? This is why the first thing you should do is understand the fair market value of the boat you are about to buy. You will need a boat surveyor Fort Lauderdale for this. Part of a surveyor’s boat inspection is determining its market value. This is achieved by looking at other comparable vessels and determining the amount of work that will be needed to get the boat in good running condition. To get the most accurate estimate, make sure you work with an experienced marine surveyor. Keep in mind that an accurate fair market value will help with negotiations and keep you from making a bad investment.
Does it require major repairs?
Just because a vessel has been priced fairly does not mean you go ahead and buy it. You should also not buy a boat simply because it appears to be in good condition. The most devastating problems are the ones you can’t see. This is why before you get started on the paperwork to buy a vessel you must involve a boat inspector to comb through every inch of the vessel. The survey report will include a list of major issues that the vessel has and how much it will cost to repair. Keep in mind some repairs are harder to tackle than others. Make sure you understand precisely what needs to be done to get the boat in working condition before offering to buy it.
Does it have all the essential equipment?
Away from repairs, it is common for used boats to lack vital equipment. For example, the navigation system might be damaged or missing altogether. You have to make a list of all the missing pieces of equipment. Doing so will help with negotiations and keep you from making a bad investment.
How much insurance should you get?
Last but not least, you need to think about the amount of insurance you will need for the boat. Keep in mind that with older boats you will have to pay higher premiums. Your boat surveyor will give an estimate on how much you will have to pay for insurance.