Whether you are a seasoned boater or a first-time buyer, it is imperative to acquire a second opinion before making a purchase. Needless to say, choosing the correct boat is important because it’s a significant and expensive decision. It may seem intimidating or perhaps unnecessary to pay for an inspection and assessment but paying for a professional inspection will guarantee that you don’t spend money on the wrong boat. But who typically pays for a boat survey, you might ask. The answer is the person that hires a surveyor. In this case, you will be the one paying for this essential service.
While it is not mandatory to get a pre-purchase survey, there are situations that may force you to hire an accredited marine surveyor. For example, if you want to insure your boat, know its fair market value or use it as collateral, you will have to pay for Washington D.C. marine survey. However, you should not feel like getting a marine survey is a waste of time and money. Here are the three aspects of boat surveys and appraisals that you should be aware of.
They provide the much-needed peace of mind
When buying something expensive such as a car or house, you want to be informed of what you are getting. A marine survey in Washington D.C. will help answer the following key questions:
- Is the vessel being sold by the real owner?
- Is the cost reasonable?
- How much should you budget for upgrades and modifications?
- Is it safe?
- How many engine hours does it have?
For the first time, used boats are becoming more valuable. Make sure the boat you purchase is worth the price you are paying. An inspection or appraisal by a marine professional will uncover any potential problems. You can then use the survey report to negotiate a lower price or decide not to go through with the purchase. If the inspection confirms that the boat is in good condition, you can purchase it with confidence.
Helps pick the right type of boat
There are numerous survey options available, each with unique benefits. The “complete condition” survey will probably be the most useful to you as a buyer. In order to spot any damage and make sure the boat is fit for its intended use, this inspection will cover the exterior, engine, control system, safety equipment, and more of the vessel. Make sure you select an accredited surveyor for this
Surveys offer a safety net and expert opinion
Even when employing a broker, the bulk of boat purchases is made privately. As a result, there is little to no legal protection. Before you make a purchase, you can have additional security by paying for a survey or valuation. Moreover, a lot of marine finance lenders and insurers demand surveys from clients before agreeing to finance or cover the vessel.
As you answer the question of who typically pays for a boat survey, you must never consider the cost as an expense but rather as an investment. This is because the input of a surveyor will save you money and headaches.