If the time for a yacht inspection has come, it means that things have gotten dire and you as a buyer have liked the vessel. There are a few things you should do when it comes to the survey point. These four measures could result in a better quality inspection, better understanding from your side, and in the end, a realistic conclusion on the value of the vessel.
Below are four things you should consider in relation to the survey.
#1 Find the Right Surveyor
The first thing you should do is find the right surveyor. Do not try to save money by hiring an inspector with less experience or out of date tools for a boat inspection. If you have a yacht broker representing you, you could ask for advice about the right professional for the inspection. Although the buyer representative also wants the deal to happen, the right professional would not let you use the services of an inexperienced surveyor who might miss crucial problems with the yacht, which would result in future issues. A good yacht broker would help you get the best vessel and make you a returning customer. In short, spend whatever is necessary to get a good surveyor. It is of high importance.
#2 Be Present at the Inspection
The second thing you should try to do is be present at the inspection if possible. Yes, the good surveyor will point out any issues the boat might have, but the vessel could look in terrible condition in your eyes, which might not be the actual case. Reading about issues and experiencing the vessel are completely different things. On paper, everything looks worse than it is. Try to attend the survey and get an idea about the yacht you want to purchase. Don’t forget that surveyors sign the inspection sheet with their name on it; they would expose the tiniest problems, which could create a completely wrong vision of the yacht.
#3 Let The Surveyor Do His/Her Job
The third thing you should do is crucial, so you don’t get an angry inspector performing less effectively than usual. Let the surveyor do his/her job. Do not ask him to check anything particular because you believe there is something wrong. Surveyors have a list of places and parts to check; they have their own scheme of inspecting everything. Nothing will be missed, so do not distract and interrupt their job. After all, there is a reason to hire surveyors – they know what to do. Do not follow the inspectors around the boat and let them breathe.
#4 Be Realistic
Last but not least, be realistic. There is not such a thing as having the boat pass or fail the inspection. The survey is to determine the real condition of the vessel. A lousy survey might lead to a much lower price than the offer the owner accepted. The bad result would mean that the yacht is still sellable, but a proper refit will be needed. The sale would even pass but at a lower price. A good survey would prove you have made the right choice with your yacht options. In case the result of the survey is not very flattering, do not overthink how you could have saved money from not making the inspection. However, imagine how much you save from not buying a yacht in lousy condition.
We hope we have been helpful with this article and that these tips will be useful when the time for a boat inspection comes. Good luck with your buys!