Not to be a cheapskate, but. How much true value w/ a surveyor?
Buying 5 yr old Formula, that appears in very good shape.
Remember SAMS surveyors do not inspect engines or drives. They will moisture check hull, and do a visual on guages, upholstry etc.
I've got a fair amount of experiance on different boats. I've had engines and lots of drives rebuilt and even had a bad/ wet hull on one boat. If a guage or something turns up bad later, no big deal that's part of boating.
The big ticket would be; engines, drives and structural or hull. So the one thing he could do is hull inspection - moisture (no wood) or delam?

Credit union and insurance co will not require.

And if I don't do, what should I do with the big 500 bucks?

Survey Survey Survey..........

And if you find the right NAMS or SAMS surveyor they will survey the motors.

$500 is cheap insurance.

Don't buy a boat without a survey. Period.

survey + complete mecanical inspection. I even pay the mecanic guy to water test it before I buy it when I'm too far to go personnally.

I asked a similar question before I bought my last boat. I asked what the surveyors looked for. Nobody on this board answered the question. I just got smart-ass responses basically calling me an idiot for even asking the question. It kind of pissed me off.
I decided these were probably the same people that get ripped off by the extended warranty on cars. I'll be the one to take the other side of the story. Surveys are for city cats that have no mechanical knowledge. Keep in mind I've never bought a used boat worth over $40k so there was not that much to check out.

J

I would have to say a survey can be a very valuable tool if done by the right person (qualified). I find it is tough finding one that is highly regarded close to where a boat is usually located. I had one done and afterwards learned much more than what the surveyor had actually realized. Granted that was on an older boat.

Goood luck with it

As a broker, we always recommend going for a survey but make sure its the right survey and surveyor. If they check everything from hull, equipment, engines etc it may cost you on the survey.....

How much for a new engine when you realise you bought a wreck but didnt know it?

I would rather cough up the money for pre-purchase inspections and then have peace of mind cruising for the summer.

Never EVER without a survey. Even if you buy the boat, you will learn things about it from a perspective that only a few, well trained, guys can provide you. Insurance and knowledge. Best $500-ish bucks you can spend.

SURVEY--SURVEY--SURVEY I thought the same way about it as you have explained and I got burnt bad--bad. The guy was real nice seemed real honest and said all the right things. I had alot of conversations on the phone and e-mails. He sucked me in good. If I had spent the 500.00 I would have saved myself over 10k and many headaches. Don't trust anyone get the servey. OH I forgot!! It was a member on OSO that got me!!!!

Do yourself a favor and get a survey and have the engines checked out.