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CONDITION AND VALUATION SURVEY

INSURANCE / FINANCIAL SURVEY
Insurance providers and lending institutions often require that a survey be done to insure that the vessel is “a good marine risk”. Typically this is done for someone that already owns their boat and does not require a condition and valuation survey. This survey looks at the hull, decks, superstructure, propulsion system, electrical system, fuel system, or anything that would be viewed as a major deficiency that could limit he operation or value of the vessel. Also, a fair market value is placed on the vessel.
APPRAISAL SURVEY
The purpose of this survey is to assign a fair market value to vessel. This survey does not assess the condition of the vessels hull, superstructure, decks, propulsion system, electrical system, or fuel system.
VERIFICATION OF STATED CONDITION
The purpose of this survey is to verify that the condition of a vessel coincides with what the owner states it is. This survey is aimed at a potential buyer that has to travel a long distance to see a boat and would like a professional opinion to verify that the seller is being forthright in his description of the boat before he travels to see the vessel.