Survey the value of a boat before buying it

If you are looking to buy a boat, a Full Pre-Purchase Condition Survey is the most appropriate type of survey as it will allow you to exactly determine the value of the boat. It may also be worth asking for a separate valuation, particularly if you require finance or if the boat is over 20 years old, when insurers often request a survey report and valuation.

Some surveyors also offer External Hull Inspections or Partial Condition Surveys, the former is also known as an osmosis check when applied to GRP craft. Although these surveys may be less expensive, it is very important that the scope and limitations of this type of survey are clearly established and understood before proceeding.

The survey contract will outline the extent of the inspection and lists any limitations. The following items are not always included in a full condition survey and may require engaging an outside specialist to determine the boat's true value; rigging above head height, electronics including interfacing, engine and sea trials. The surveyor can usually recommend an appropriate person or may be able to carry out the work himself at an extra charge.

As previously noted, insurance companies will often requesta condition report and valuation or appraisal by a surveyor as a requirement for cover, the valuation will normally be based upon a full inspection of the craft and may make recommendations concerning its safe operation, this should be seen as an opportunity rather than a chore.

It is worth bearing in mind that there is nothing to stop anybody describing themselves as a marine surveyor; it is therefore up to you to establish whether your surveyor is fit for the job of properly evaluating a boat that you may be buying.

A good starting point is to ensure that the surveyor is a member of an appropriate professional society or association. These should not be confused with various trade organizations that do not set out to monitor professional standards.

Different types of craft and materials will require different surveying equipment and techniques and it is important to ensure that the surveyor has the appropriate expertise.

A surveyor’s experience and reputation can prove harder to determine, but you can get an idea from the professionalism of a surveyor’s presentation and also by local recommendation.

It is reasonable to ask a surveyor whether he has professional indemnity insurance cover, however surveyors may be wary if this is your opening question! Bear in mind that many professional indemnity insurance policies have non-disclosure clauses, which can put the surveyor in an awkward situation when asked to provide details of their cover.

Once you have selected a surveyor you should obtain a formal quotation and a contract outlining the scope of work and any limitations. When a date for the inspection has been agreed, it is your responsibility to make arrangements for the boat to be hauled out for the inspection.

The surveyor will outline any particular requirements, such as having linings or sole boards opened up and the removal on non-essential equipment, which might limit the inspection.