On the YouTube channel, Boat Alert, in the video “How to Carry Out A Pre-Purchase Boat Survey”, they talk about what it is and why you need it when selling or buying a boat. When someone wants to buy or sell a yacht, a pre-purchase boat survey is used to inspect the boat to find out its condition and sales value.
An experienced yacht surveyor will be accredited by the Society of Marine Surveyors. They usually work for the buyer and have a list of items to inspect before the boat can be sold. The survey report may go to the insurance agency, be used for appraisal, or to assess damage to the yacht.
The yacht surveyors check safety features on the yacht. Yacht surveyors check navigation lights, sanitation, engine fuel, electrical systems, hulls, and the bottom of the boat. They often take the boat for a short ride to determine how it is working.
The final report has a description of the boat and the systems onboard. It has all the findings and proposals for repairs or needed actions divided into areas of importance. It accesses the yacht’s overall condition and determines its market value by comparing it to other boats and sales data. Yacht surveyors charge around $22 per foot to survey a yacht and more for older boats that need more inspection.