Condition & Value Survey
This is the most common survey we perform. Lenders often require this type of survey before financing a vessel to confirm the value and condition before closing. Depending on the age of a vessel, insurance companies require a survey every 3-5 years, by a licensed surveyor.
This survey is quite comprehensive and documents everything from deficiencies, recommendations for repairs, safety equipment, etc. A condition and value survey can be done on land or in the water, depending on the scope required by lenders or insurance companies.
Appraisal Survey
Appraisal surveys are complete to determine a value on a new or used boat. Depending on the size and age of a boat, lenders require these to be completed by a licensed marine surveyor. Independent of lenders, appraisal surveys can be used to negotiate a sale and establish market value.