Survey / Inspection & Valuation Report

WHAT IS A MARINE SURVEY / INSPECTION & VALUATION REPORT?

A critical examination or inspection of a marine vessel for a specific purpose. This inspection is for the purpose of ascertaining facts regarding the condition and value of the inspected vessel in order to provide exact information especially to persons responsible or in fact interested.
In its simplest terms a (MSIVR) is a report on the current condition of a vessel and its current value. It assures buyers, insurance companies and financial institutions that the vessel meets ABYC safety standards and that it is insured for enough value to replace it if damaged or lost.

WHY WOULD I HAVE A SURVEY DONE?

If you are a buyer a survey will provide you good basic information as to the condition and value of a vessel that you are looking to purchase prior to making the financial commitment.
Insurance companies are requesting inspections and reports on vessels over ten years old and for the most part every three years after. This is to provide confidence in the vessel they are insuring. It also assists the owner in acquiring the correct amount of coverage to replace their vessel or repair damage should the need arise.
Financial institutions will often ask for a survey or valuation report to provide information necessary to calculate the amount of money they would be willing to loan toward the purchase of a given vessel.
If you are a seller and would like to determine the market value of the vessel you are about to put on the market the (MSIVR) will do that and will also provide you with a valuable sales tool when showing prospective buyers.

HOW LONG DOES A SURVEY TAKE?

A ( MSIVR) will take 2 to 8 hours on board depending on the vessel being inspected and the inspection requested, ( buyers will often request a "mechanical inspection as well ). It will then require 1 to 5 hours of office time to prepare the final copy of the report.

HOW MUCH WILL IT COST?