The best thing you can do before buying a used boat is to get the advice of an experienced boat inspector Fort Lauderdale trusts. The surveyor will help you understand the exact condition of the boat and its fair market value. This information is crucial in making a sound investment. However, before you can proceed with the hiring of a boat surveyor, it is important to understand the following facts.
The person who hires the surveyor pays them
The first point you must keep in mind is that the boat inspector Fort Lauderdale trusts, is paid by the person who hires them. If you need a survey done before buying a boat, you will be the one paying the surveyor. If an insurance company sends their own surveyor to assess your boat, the insurance company will be paying the surveyor. In most cases, the buyer is the one responsible for paying for a boat survey. Be wary of sellers who are offering to pay for a marine survey. Chances are they will use their own surveyor who might be biased.
There are many types of marine surveys
The work of the boat inspector is not just to determine the value of a boat and document its flaws. There is a lot that a surveyor does. Here are some of the most common types of marine surveys:
- Insurance survey. This is the most basic type of boat survey. It is meant to give the insurance company a general overview of the boat’s condition. It helps the insurer know how much to cover your boat.
- Finance survey. This will be requested by marine mortgage lenders or financial institutions. Lenders will require this survey to be done before they can approve a loan. The goal is to determine if the boat is a good asset.
- Pre- or post-transport survey. This type of survey assesses the condition of a vessel before or after it has been transported. The survey is used mainly for insurance purposes.
- Full condition survey. Also known as a pre-purchase survey, this is the most comprehensive type of survey. It delves deeper into the condition of the boat. The surveyor will check everything on the boat and even insist on a sea trial.
It is advised to be present during the survey
While you don’t need to be present during the survey, it is highly recommended to be present. Being present helps you learn a lot about the boat and also gives you a chance to ask any question you may have. A marine surveyor will be happy to show you things as they discover them. This will give you a better understanding of the condition of the boat.
Boat Inspector Fort Lauderdale