THE SURVEY

When purchasing a vessel you will need an out-of-the-water survey which will is also necessary for insurance and financing purposes. A three-for-one expense.

The engines are checked first and is always a cold-start for proper assessment.

 From there the vessel is taken to the haulout. Due to the time the vessel has been sitting in the water, the owner will either arrange for a diver to clean the bottom or it may need to be pressure washed upon haulout for better inspection. The cost for that is around $3/ft. The cost for the cleaning is the seller’s expense.

 The cost of the haulout, depending on which yard you are hauling at, will be somewhere between $15 – $20/ft for 1hr in the slings while the hulls, keels and any under-water items are inspected. The cost for the haulout is the buyer’s expense.

 The cost of the actual survey will be around $18 -$23/ft depending on the length of the vessel. This cost includes a full day with a sea trial where the engines, navigational equipment, sails and other running gear are inspected.

 It is always advisable to be along for the survey to deal with issues that arise as the surveyor works through the vessel during the course of the day. It is the best time to dismiss the smaller items and discuss the larger, more pertinent issues on the spot. It allows for insight into the issues at hand which can then be dealt with quickly and realistically. The survey report will generally be available within 24-48 hours of the survey, after which your broker can guide you through the Acceptance of Vessel.

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