Marine Surveys - Helpful or Hassle?

Both a standard C&V survey and a pre-purchase survey are useful in fulfilling the requirements of another party with an interest in the boat.

This often includes an insurer or a lender who desires to know the condition of the property and ensure they are establishing the appropriate monetary limits. For the purposes of the rest of this article, references to C&V surveys are for both traditional and pre-purchase condition and value surveys.

A true C&V survey should include an out-of-water inspection and often a sea trial. An in-water survey is often a waste of time and money because serious potential problems lurk beneath the water line (and it might not satisfy insurer or lender requirements - an underwriter may decline a survey that lacks clarity and/or detail).

There can also be situations in which you may need separate inspections by specialists in mechanical and other systems - engines and generators are among the most expensive, crucial and problem-prone systems on any vessel. Specialized needs can include oil analysis, carbon monoxide tests, moisture testing, galvanic and stray current corrosion testing, electrical panel inspections, ultrasonic testing, and pulling of fasteners, among other services.

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What if more detail is required?

If you require anything more than an appraisal or basic description/inventory of the vessel, a more detailed and comprehensive survey can be performed.

Commonly called a Condition and Value (C&V) survey, these reports detail the current condition of a boat and include recommendations regarding problem areas. This survey also estimates the current market value of the vessel.

Traditional C&V surveys are arranged and paid for by the boat owner. The C&V survey should be a factual and detailed representation of the boat concerned. It should address structural and operational integrity, propulsion and fuel systems and machinery, electrical and plumbing systems, navigation and other on-board systems, rigging, condition and type of all through hulls, cosmetic appearance, safety gear and considerations, regulatory compliance, overall outfitting, maintenance and more.

A pre-purchase survey is similar to a C&V, though its purpose is slightly different. The pre-purchase survey is generally contracted by and paid for by a prospective buyer.

The buyer will be interested in knowing the condition and existing problem areas of the vessel, as well as its estimated market value.