Why are so many surveys just an inventory?

[Stephen Ord]

I have been looking at a large number of vessels recently and in turn have seen a lot of surveys. So many surveyors feel that a list of features constitutes a survey. I can see that the vessel has a GPS or Radar or some other feature and if I purchase my bill of sale should include a list of these. What I want is an opinion of what needs work and I want a surveyor to protect me from buying a vessel with non-repairable damage or failings. Since a surveyor will probably be from an area geographically far from my home how do I ensure that I pay for and get what I want? Can I make claim against a useless surveyor if I buy based on his/her survey?

 

[Don]

not all are the same

Sounds like you are looking at what is laughingly called an " insurance survey" which, is typically a very cursory survey and costs less than a good one. Any quality surveyor will certainly inventory the boat but will also include a thorough description of the hull, mechanical, electrical and rigging equipment, however, you won't likely see any of these from a seller or broker. Best to narrow down your search and get your own surevey done by someone you select.Don

 

[Gord May]

types of survey

There are a number of different types of survey you might commission. In descending order of completeness & cost, some examples are:1. Pre-PurchaseThis is the most comprehensive and in-depth type of inspection, and is highly recommended when purchasing a new or used yacht. This type of yacht survey assesses the structural and cosmetic condition of the yacht for a prospective buyer using non-invasive technology. This same report can be used for lending or insurance agencies. The purpose of the survey is to provide an overview of the yacht's condition , value, and suitability for the intended use. Emphasis is placed with regard to structural features; determining the seriousness of existing problems and suggested repairs. A moisture meter is used to determine if there is excessive moisture in fiberglass hulls or rot present in wooden hulls. The engine is assessed based on external visible inspection. If necessary, a more detailed assessment should be provided by a qualified engine surveyor. A sea trial and in water inspection is also highly recommended.2. Insurance SurveyUsed to determine the insurability of a yacht as required by your insurance company . This survey will provide insurance underwriters and other agencies evidence by which they can determine the yacht's structural integrity, its suitability for its intended use, value, and compliance with USCG regulations, ABYC or NFPA standards. The interior of the hull is observed, where accessible, and remarks are noted. Bottom inspections and sea trials are not performed unless required. This survey is not as thorough as the pre-purchase survey.3. Damage InspectionThis survey is performed to assess the extent of damage to yachts. Recommended repairs and estimated repair costs are provided.4. Appraisal InspectionThis survey is required for boat owners who are refinancing or applying for a second mortgage, determining a selling price, or donating a boat for a tax write-off. It is used to establish a yacht's value by setting a fair market value and by estimating the yacht's increased value by projecting a rebuild or refit.5. Preliminary Inspection:A brief inspection is carried out on the vessel, as lying without any preparatory work or dismantling. The observations obtained should indicate whether a full survey is justified.

 

[Charlie Gruetzner - BeneteauOwners.net]

Survey

Stephen, when I do a survey for someone, whether it is a prepurchase or a condition and valuation ( insuranc). I always list the equipment on board including a serial number if I can. Mainly becasue it helps the buyer and the isnusrance company interms of the true value of the boat. BUT I always have a tables in which I list my observations and my recommendations. These might be maintenance issues, non-compliance issues, or problems with areas of the boat such as a wet area, navigation lights not working, poor grounds in the electrical systems etc etc.You need to be careful of the surveyor you choose and remeber they work for youCharlie