Survey - What do you get????
03-14-2002, 11:32 AM
#1
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Survey - What do you get????
I am buying a boat out of state and wonder what exactly do you get with a survey?
On one boat I am looking at the owner faxed me a previous survey but it really did not tell me anything I did not know. Its 6 pages of fill in the blank type statements the majority of which do not apply. As far as hull and deck condition it just says "good". As far as anything mechanical it just says "servicable". There is a present value but it appears to be way off and probably just from the nada book or the owners statement. There is a remarks and recomendations sheet which appears to be written specifically for the boat but its filled with usless information telling me to prep and paint with antifouling bottom paint. Also it list a lot of standard equipment as extra equipment such as the built-in swim platform.
Basically it appears to be just someones opinion about a boat he is obviously not familiar with.
Are there different types of surveys?
How much does a survey cost?
Do they have any professional responsiblity if they are wrong?
Thanks,
Ron
On one boat I am looking at the owner faxed me a previous survey but it really did not tell me anything I did not know. Its 6 pages of fill in the blank type statements the majority of which do not apply. As far as hull and deck condition it just says "good". As far as anything mechanical it just says "servicable". There is a present value but it appears to be way off and probably just from the nada book or the owners statement. There is a remarks and recomendations sheet which appears to be written specifically for the boat but its filled with usless information telling me to prep and paint with antifouling bottom paint. Also it list a lot of standard equipment as extra equipment such as the built-in swim platform.
Basically it appears to be just someones opinion about a boat he is obviously not familiar with.
Are there different types of surveys?
How much does a survey cost?
Do they have any professional responsiblity if they are wrong?
Thanks,
Ron
03-14-2002, 11:46 AM
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The cost and the amount of details that a surveyor goes into vary. I know that when I had a boat surveyed I made the survyor do a compression check on the motor, a water saturation test on the hull and stringers, as well as do a visual inspection on the drive as well as check the drive oil to see if it was milky. This was an out of state boat and these were my main area's of concern. I am sure that you can find a surveyor that can handle these thing for you. 
03-14-2002, 11:46 AM
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Surveys
RJ....
you should be able to find a surveyor in the area that can give you a survey that can tell how many times the previous owner got laid in the cabin !!!!
What area of the country is the boat in ????
Don't put much wt. on the survey he gave you ... get your own... find a surveyor with a rep. for being a real prick and turn him loose.... IT'S WORTH EVERY PENNY !!!
If you cant find one in that area ... fly one in !!!!!
J.M.
you should be able to find a surveyor in the area that can give you a survey that can tell how many times the previous owner got laid in the cabin !!!!
What area of the country is the boat in ????
Don't put much wt. on the survey he gave you ... get your own... find a surveyor with a rep. for being a real prick and turn him loose.... IT'S WORTH EVERY PENNY !!!
If you cant find one in that area ... fly one in !!!!!
J.M.
03-14-2002, 11:47 AM
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Sounds to me like that is nothing more than an insurance or C&V survey(Condition and value) Something insurance co.'s use to determine indemnity and insurability risk.
A quote from D. Pascoe:
"Conclusion: Even though the survey may be commissioned and paid for by the vessel owner, an insurance or finance company is a direct beneficiary and end user. The surveyor has a fiduciary responsibility to anyone who makes use of his report, and must strive at all costs to accurately represent the condition of the vessel. Significant misrepresentation or omission relating to the condition or value of the vessel may result in financial loss to third parties for which the surveyor could be held liable. Surveys should be issued with this sobering fact in mind."
Everything you ever wanted to know about surveys:
http://www.yachtsurvey.com/SurveyGuide.htm
A quote from D. Pascoe:
"Conclusion: Even though the survey may be commissioned and paid for by the vessel owner, an insurance or finance company is a direct beneficiary and end user. The surveyor has a fiduciary responsibility to anyone who makes use of his report, and must strive at all costs to accurately represent the condition of the vessel. Significant misrepresentation or omission relating to the condition or value of the vessel may result in financial loss to third parties for which the surveyor could be held liable. Surveys should be issued with this sobering fact in mind."
Everything you ever wanted to know about surveys:
http://www.yachtsurvey.com/SurveyGuide.htm
Last edited by Baja Daze; 03-14-2002 at 11:50 AM.
03-14-2002, 12:08 PM
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Originally posted by Baja Daze
Sounds to me like that is nothing more than an insurance or C&V survey(Condition and value) Something insurance co.'s use to determine indemnity and insurability risk.
Sounds to me like that is nothing more than an insurance or C&V survey(Condition and value) Something insurance co.'s use to determine indemnity and insurability risk.
03-14-2002, 12:19 PM
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Originally posted by Risk Taker
Hey Daze.......want a job ??
Hey Daze.......want a job ??
03-14-2002, 12:45 PM
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Go here: www.nams-cms.org and see if there is a certified surveyor in that area.
You might also want to swing by www.yachtsurvey.com - Dave Pascoe and family have been in the survey business for years and he has a number of good articles on surveying on his site.
You might also want to swing by www.yachtsurvey.com - Dave Pascoe and family have been in the survey business for years and he has a number of good articles on surveying on his site.
03-14-2002, 01:36 PM
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Prices very by area and surveyor. This is what a client of mine just spent here in California, an the survey was impresive. $10 Per foot. This was a hull survey and did not really say anything about the engines or drives. On a boat in almost perfect condition (Two Scratches in the paint) The surveyorcame back with about five pages of feedback. Other than a few suggestins for preventative maintenance the survey was golden. This not only eased that buyers concerns, but will allow for easy resale when the time comes. It is important that the surveyor lists things that are ingreat condition as well as the bad. I ha a survey done awhile back and the guy left half of th sheets blank or just checked off and only mrked the negative areas. It just about cost me the sal of the boat. I had to have him call fill in those sections with comments. I will never use that guy again. Call a local lending instatution and ask who they recomend. Find a Marine Tech. in your area and ask for a mechanicalSurvey as well. They are all worth the money. Surveys are not going to tell you 100% of what is wrong with a boat, but they can be informative. Not only to you, But to the next buyer. Buy the way. What kind of boat are you getting?
03-14-2002, 05:02 PM
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Ron,
We also had to did the same thing. Had to get the boat surveyed before the bank would allow the $$$. It too, was out of state. I believe it cost us $500. Get someone who is certified. They basically check the overall condition but do not test it out on the water. It's definately worth it. The survey is also good for quite some time-6 mos.? or more. Our surveyor told us that if we didn't buy the boat-he would. Said it was literally in showroom condition. And he also garaunteed the survey for 3 mos (I beleive) that he'd buy the survey back if we didn't end up buying the boat. NASDBOY can give you the rest of the details.....BUt, definately worth it, especially if you haven't seen the boat.
We also had to did the same thing. Had to get the boat surveyed before the bank would allow the $$$. It too, was out of state. I believe it cost us $500. Get someone who is certified. They basically check the overall condition but do not test it out on the water. It's definately worth it. The survey is also good for quite some time-6 mos.? or more. Our surveyor told us that if we didn't buy the boat-he would. Said it was literally in showroom condition. And he also garaunteed the survey for 3 mos (I beleive) that he'd buy the survey back if we didn't end up buying the boat. NASDBOY can give you the rest of the details.....BUt, definately worth it, especially if you haven't seen the boat.
03-14-2002, 09:46 PM
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Hey Outlaw,
We dont need the bank to buy the boat. I was thinking of having a survey done before I went to see the boat but in my case I will probably go and look at several boats and I'm sure my inspection will be more complete than any survey that is affordable. About the only test I cant perform on a boat would be the moisture content of the hull and stringers (although I do have a moisture meter I use for woodworking) and we are looking at 27 Fountains and most people keep a boat of this size out of the water anyway.
I just cant justify the cost of a survey on every boat that I am interested in. So this means I will have to go see in person every boat I might buy. Maybe if I need some bargining power I will get a survey but from the ones Ive seen they would not help all that much. A thorough condition and mechanical survey could run over 1K.
Ron
We dont need the bank to buy the boat. I was thinking of having a survey done before I went to see the boat but in my case I will probably go and look at several boats and I'm sure my inspection will be more complete than any survey that is affordable. About the only test I cant perform on a boat would be the moisture content of the hull and stringers (although I do have a moisture meter I use for woodworking) and we are looking at 27 Fountains and most people keep a boat of this size out of the water anyway.
I just cant justify the cost of a survey on every boat that I am interested in. So this means I will have to go see in person every boat I might buy. Maybe if I need some bargining power I will get a survey but from the ones Ive seen they would not help all that much. A thorough condition and mechanical survey could run over 1K.
Ron
