Marine Surveyor 32216 – What is the Difference Between a Marine Survey and a Boat Appraisal?
When considering the purchase of a boat or yacht, it is important to understand the difference between a marine survey and a boat appraisal in order to make an informed decision. The purpose of the two examinations differs greatly, both requiring different training and expertise and each providing valuable information about condition of the vessel. Suncoast Marine Surveying provides professional and experienced Marine Surveyor #32216 services in Jacksonville, Florida and the surrounding areas for anyone looking for a quality survey and/or appraisal.
A marine survey is conducted by a professional Marine Surveyor 32216 who has had extensive maritime experience and specialized training. During a marine survey, the Marine Surveyor 32216 inspects all the functional components of the vessel, including the hull and structure, exterior surfaces, propulsion system, steering system, electrical systems, plumbing systems as well as other items regarding safety and emergency equipment. This examination requires a thorough review of the vessel’s documentation including Certificate of Title, Bill of Sale, Hull Identification Number and proof of ownership to verify that the vessel is exactly as described.
The survey itself is tailored to meet the customer’s needs. For example, if the purpose of the survey is pre-purchase, detailed photographs will be taken so that there are no surprises when the prospective owner takes delivery of their new vessel. This comprehensive process culminates with a report highlighting any potential problems along with accompanying photographs documenting the findings throughout the inspection.
In comparison, a boat appraisal is very similar yet still different from a marine survey. On the surface, they may appear to provide similar information but the differences become more evident when you look further into them. An appraiser also has exclusive knowledge of marine vessels; however, they are not always required to have maritime experience or even an understanding of ships and their workings in order to offer an opinion on value. A boat appraisal is focused solely on determining the Fair Market Value (FMV) of the vessel which allows buyers and sellers alike to reach an agreement regarding its worth.
While a Mariner Surveyor 32216 is trained to spot structural issues such as dry rot or corrosion, the appraiser will focus primarily on cosmetic flaws such as faded paint or varnish. Furthermore, an appraiser doesn’t provide many details in regards to the condition of the vessel since this isn’t their goal. Instead, an appraiser looks at comparable vessels that have been recently sold in an effort to determine the FMV of a vessel being considered for purchase.
At the end of either service – survey or appraisal – Suncoast Marine Surveying provides detailed reports that go over all pertinent information gathered during the examination. And while the contents of each report vary depending on what type of service was requested (survey or appraisal), both provide valuable insight into the condition and worthiness of a particular boat or yacht.
Understanding the difference between a marine survey and a boat appraisal can help you make an informed decision about buying or selling your boat or yacht. Suncoast Marine Surveying offers professional Marine Surveyor #32216 Services in Jacksonville, Florida and surrounding areas. With extensive experience and specialized training in surveying and appraising vessels large and small, Suncoast Marine Surveying can provide you with an accurate representation of your boat’s current condition and value. Contact Suncoast Marine Surveying today to request a Marine Surveyor 32216 for your next inspection!r