I am attempting to buy a H26 long distance. The finance company is requiring a survey of the boat. Can anyone tell me what an appropriate cost for a survey of a boat that size would be?
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Ron Dague
Survey Prices vary by Region and Surveyor
Depending on where you live, the price can vary alot. In Florida, I've heard that a survey is a low as $8.00 a foot, to up to $15 a foot, near Miami or Ft. Lauderdale. In the midwest, I'd expect about $150 or less on your boat. So, update and let us know where the boat is, and maybe someone can give you a better idea. Also, make sure the surveyor you pick will be acceptable to both the finance company, and your intended insurance company. Try asking the finance company for a list.
Depending on where you live, the price can vary alot. In Florida, I've heard that a survey is a low as $8.00 a foot, to up to $15 a foot, near Miami or Ft. Lauderdale. In the midwest, I'd expect about $150 or less on your boat. So, update and let us know where the boat is, and maybe someone can give you a better idea. Also, make sure the surveyor you pick will be acceptable to both the finance company, and your intended insurance company. Try asking the finance company for a list.
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Peggie Hall/Head Mistress
Also depends upon whether...
...it's a full pre-purchase survey--which I STRONGLY recommend--or just a "condition & value" survey to satisfy the lender that it's worth what he's lending you on it and the insurance company that it isn't likely to sink. Since you're gonna own the boat, I'd think you'd want to know as much about everything on it as you can before you commit irrevocably to buying it..and you'd be well advised to make your offer "subject to survey and sea trial" so that if the survey turns up any problems (and there are potentially plenty of 'em that wouldn't necessarily change the loan value or insurable value), you have the option of walking away, negotiating a better price, or requiring the seller to fix 'em. Price per foot can vary depending upon the size of the boat. A 36' boat will have more systems and "bells & whistles" than a 26' boat...so more for the surveyor to do. Find the best surveyor you can..don't take the brokers recommendation for one...'cuz his ONLY interest is in getting rid of the boat so he can get paid..the only thing he and seller will be "stuck" with is your money...you're gonna be the one "stuck" with the boat...so you want to be sure that the surveyor is working for you, not him.
...it's a full pre-purchase survey--which I STRONGLY recommend--or just a "condition & value" survey to satisfy the lender that it's worth what he's lending you on it and the insurance company that it isn't likely to sink. Since you're gonna own the boat, I'd think you'd want to know as much about everything on it as you can before you commit irrevocably to buying it..and you'd be well advised to make your offer "subject to survey and sea trial" so that if the survey turns up any problems (and there are potentially plenty of 'em that wouldn't necessarily change the loan value or insurable value), you have the option of walking away, negotiating a better price, or requiring the seller to fix 'em. Price per foot can vary depending upon the size of the boat. A 36' boat will have more systems and "bells & whistles" than a 26' boat...so more for the surveyor to do. Find the best surveyor you can..don't take the brokers recommendation for one...'cuz his ONLY interest is in getting rid of the boat so he can get paid..the only thing he and seller will be "stuck" with is your money...you're gonna be the one "stuck" with the boat...so you want to be sure that the surveyor is working for you, not him.
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Steve Donahue steve@tainos.ai
$10/FOOT IN MARYLAND AND...
just had one done on my 34 Hunter. They did a GREAT job - photos and 3 full pages of recommendations - lot's of small stuff I never noticed.
just had one done on my 34 Hunter. They did a GREAT job - photos and 3 full pages of recommendations - lot's of small stuff I never noticed.
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Calvin Smith
Thanks
The boat is in Annapolis MD. $10 per foot means another $260.00 in unanticipated costs. The lament of the boat owner 'I could of have that money to...'
The boat is in Annapolis MD. $10 per foot means another $260.00 in unanticipated costs. The lament of the boat owner 'I could of have that money to...'
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Paul Akers
Worth it!
Calvin, you will find that it's worth the cost, just for the ease of mind. Also, try to be there when the surveyor does the job. It's amazing what you'll learn about the boat as you talk to the surveyor. And if anything needs to be corrected, he can explain it in detail.
Calvin, you will find that it's worth the cost, just for the ease of mind. Also, try to be there when the surveyor does the job. It's amazing what you'll learn about the boat as you talk to the surveyor. And if anything needs to be corrected, he can explain it in detail.
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Peggie Hall/Head Mistress
Cal, there's a reason why B.O.A.T. stands for
Break Out Another Thousand. That's what you need to keep handy for "unanticipated costs"...'cuz there will ALWAYS be something you either didn't expect to replace or didn't know you need to add. $260 for a survey will prob'ly save you more than that...'cuz there are very few used boats that don't have at least a few problems which need correcting. And when you make your offer "subject to survey," those problems become bargaining chips. You can require that the seller either pay for it--to your surveyor's satisfaction, or come off the price for the amount of the repairs if he wants to close the sale. I recommend making the seller pay for the repairs--and I stress "to your surveyor's satisfaction," because it's not uncommon to find that there's more to it after they start taking whatever it is apart than was immediately apparent, and that always adds to the cost if the repair is to be done right. And with your surveyor bird-dogging any repairs, you know they will be done right.
Break Out Another Thousand. That's what you need to keep handy for "unanticipated costs"...'cuz there will ALWAYS be something you either didn't expect to replace or didn't know you need to add. $260 for a survey will prob'ly save you more than that...'cuz there are very few used boats that don't have at least a few problems which need correcting. And when you make your offer "subject to survey," those problems become bargaining chips. You can require that the seller either pay for it--to your surveyor's satisfaction, or come off the price for the amount of the repairs if he wants to close the sale. I recommend making the seller pay for the repairs--and I stress "to your surveyor's satisfaction," because it's not uncommon to find that there's more to it after they start taking whatever it is apart than was immediately apparent, and that always adds to the cost if the repair is to be done right. And with your surveyor bird-dogging any repairs, you know they will be done right.
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Andy
Survey
http://www.marinesurvey.org will connect you with the Society of Surveyors and give you a list state by state. We bought our first boat earlier this month and although a survey was not required for the loan or insurance we did it for piece of mind or perhaps we just paid for our ignorance about the details of boats. It was 10 bucks/foot here in Ohio although some have a minimum. Get quotes and ask exactly what they will do for the money. As others have said, be there when the survey is done and learn from those who know. Andy
http://www.marinesurvey.org will connect you with the Society of Surveyors and give you a list state by state. We bought our first boat earlier this month and although a survey was not required for the loan or insurance we did it for piece of mind or perhaps we just paid for our ignorance about the details of boats. It was 10 bucks/foot here in Ohio although some have a minimum. Get quotes and ask exactly what they will do for the money. As others have said, be there when the survey is done and learn from those who know. Andy
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Fred
Worth it!
Just paid $12 for survey on a 94 30T. Surveyer picked up a lot of small items and looked at others that you might overlook.
Just paid $12 for survey on a 94 30T. Surveyer picked up a lot of small items and looked at others that you might overlook.
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Dave Kelton
Survey Says
As a surveyor, in Burlington I will charge $10 per foot for vessels with inboard engines, $7 per foot with outboards. I always tell people right up front, I work for you not the broker. I have found that in most cases, the problems I have found reduce the price of the boat more than the survey cost, so at all costs get a survey. Don't forget, YOU own the survey not the broker, surveyor or seller. If you back out of the sale, you can sell the survey to the next prospective buyer. This does happen, probably about 20% of the time, when the survey reveals some "hidden", "hey, I never knew that!" kind of damage. (If I had a dollar for everytime the broker told me the 1978 Pearson was perfect, looks like new!, I'd be a millionaire). Make sure you quiz as to what type of report you will recieve. It should be typed, no checklists. I would like to respectfully disagree with the comment of not taking the brokers suggestions on a surveyor, most surveyors are recommended by the brokers. Although I don't always see eye to eye with the brokers, I like to think that they recommend me because I am fair in my inspections. The last thing I would do is push a boat on a person to help a broker make a sale, there's just no future in that type of business, and don't forget, the sureyor is paid regardless or not if the boat is sold or not sold , so there is no incentive to sell it. I would agree that you should try to be there for at least the end of the survey, so that all discrepencies and suggested repairs can be discussed . A good survey on a 26 footer would take me about 4-5 hours at the boat, another 3-4 assembling the report. That does not include sea trials, and return trips after the report has been read by the buyer. The message there is that I find about half the people that attend the full survey end up trying to move it along to save time. So usually I suggest attendance for the last hour or so, and another hour past that to look at items. I tried to perform "condition and value" surveys, but decided that it favored the broker too much. In the end I stopped doing them entirely, as I feel that even if you have owned the boat for a considerable amount of time, there just seems to be too many problems that the owners don't know about. Where that becomes an issue is during subsequent insurance claims. In order to correctly assign value to the vessel, you have to look at all of it anyways, so you're right back to a full survey. Hope this gives you a little insight. ( I'm also a proud Hunter 34 owner, no advertising pitches here ).
As a surveyor, in Burlington I will charge $10 per foot for vessels with inboard engines, $7 per foot with outboards. I always tell people right up front, I work for you not the broker. I have found that in most cases, the problems I have found reduce the price of the boat more than the survey cost, so at all costs get a survey. Don't forget, YOU own the survey not the broker, surveyor or seller. If you back out of the sale, you can sell the survey to the next prospective buyer. This does happen, probably about 20% of the time, when the survey reveals some "hidden", "hey, I never knew that!" kind of damage. (If I had a dollar for everytime the broker told me the 1978 Pearson was perfect, looks like new!, I'd be a millionaire). Make sure you quiz as to what type of report you will recieve. It should be typed, no checklists. I would like to respectfully disagree with the comment of not taking the brokers suggestions on a surveyor, most surveyors are recommended by the brokers. Although I don't always see eye to eye with the brokers, I like to think that they recommend me because I am fair in my inspections. The last thing I would do is push a boat on a person to help a broker make a sale, there's just no future in that type of business, and don't forget, the sureyor is paid regardless or not if the boat is sold or not sold , so there is no incentive to sell it. I would agree that you should try to be there for at least the end of the survey, so that all discrepencies and suggested repairs can be discussed . A good survey on a 26 footer would take me about 4-5 hours at the boat, another 3-4 assembling the report. That does not include sea trials, and return trips after the report has been read by the buyer. The message there is that I find about half the people that attend the full survey end up trying to move it along to save time. So usually I suggest attendance for the last hour or so, and another hour past that to look at items. I tried to perform "condition and value" surveys, but decided that it favored the broker too much. In the end I stopped doing them entirely, as I feel that even if you have owned the boat for a considerable amount of time, there just seems to be too many problems that the owners don't know about. Where that becomes an issue is during subsequent insurance claims. In order to correctly assign value to the vessel, you have to look at all of it anyways, so you're right back to a full survey. Hope this gives you a little insight. ( I'm also a proud Hunter 34 owner, no advertising pitches here ).
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