WHY HIRE A GOOD MARINE SURVEYOR?
If the second largest purchase you ever decide to make floats...
keep reading. Large yacht owners (and an increasing number
of small boat owners) know an investment in a marine survey
is worth while. Hire a marine surveyor to inspect the vessel
prior to purchase but don’t simply “go through
the motions”. Hire a good marine surveyor.
If
you trust your broker then trust your broker’s selection
of a marine surveyor. You are risking a lot more based on
your choice of brokers than you are on your choice of marine
surveyors. But, don’t trust the broker blindly, ask
questions about your options, educate yourself, it is your
decision. Ask the broker if they feel the surveyor is the
best surveyor available, one that will represent your interests
exclusively and rigorously. If the broker has a list of marine
surveyors, ask if any surveyors have been excluded because
they are too “picky”, too “tough”
or “are deal killers”. Ask the broker who they
would use if they were buying a vessel for themselves.
Comparing
surveyors is a simple task. Narrow your list of potential
surveyors based on your initial research, and simply request
sample survey reports of vessels similar to the one you wish
to purchase. Briefing these reports should take no time at
all and you will have a good idea which surveyor fits you
best, performs the job you require and which surveyor you
feel is good.
You
should raise any specific concerns you have about the boat
or the survey process with the marine surveyor. Mention any
problems you have noticed, any deficiencies you have heard
about and discuss any specific inspection techniques that
you hope to be accomplished. Ask the surveyor about the extent
of the operation of the systems they will perform during the
inspection process. Many surveyors operate very little equipment;
their sample surveys should reveal these details.
Don’t
hire a surveyor by price. Price is not likely to vary by any
significant amount and the price of the survey is insignificant
compared to the cost of the vessel and the potential cost
of not hiring a good marine surveyor.
Assure
that the marine surveyor’s report will be accepted by
the lending institution, insurance company and marina of your
choice. This step can be tricky because you may not have made
your choice(s) at the time of purchase. An easy vetting process
for this purpose is to choose a surveyor who is a member of
a recognized surveyor’s association. The Society of
Accredited Marine Surveyors (SAMS) and the National Association
of Marine Surveyors (NAMS) are well established and recognized
by most financial and insurance institutions. Also make sure
the surveyor has sufficient length of time in the trade and
is experienced with the type of vessel you’re buying.
Don’t
skip the survey because you are buying a vessel “as-is”.
It is better to know what you are buying than to be surprised.
A recent client buying a vessel with no possibility of survey
allowances; was happy to learn of two significant survey findings.
A bobstay fitting exhibited significant corrosion and a through
hull valve was not properly functional. The bobstay fitting
was easily removed, cleaned, inspected and reinstalled. A
new snubber connection was attached, it was reinstalled with
little expense and effort. The through hull valve was subsequently
determined to be corroded. The repairer easily broke the valve
stem, necessitating the replacement of the valve. The client
decided to replace the through hull in conjunction with the
valve and thus took the utmost advantage of the haul for survey.
Although there was no survey allowance from the seller, the
buyer still realized the benefit of a good marine survey.
Don’t
accept an old survey done for another client. Get the benefit
of the survey process along with the survey. Learn the boat
with the surveyor, if you hire a good surveyor, the education
during the survey will be invaluable. If you use an old survey,
you have no idea of the events of the day and the money and
time saved may be the worst investment you ever didn’t
make. The report also may not be useful for the finance, insurance
or marina requirements.
Brokers
desiring long term relationships with boat owners should limit
their referral list to good marine surveyors. The true condition
of the vessel should be determined and any issues resolved
at the time of purchase. This results in a satisfied customer,
who feels they were treated fairly and this feeling builds
a relationship which is sure to continue. Discard the clutter
of negative reputations and you may discover that the “deal
killer” is actually a good deal maker. Referring “sub-standard”
marine surveyors often comes back to bite brokers. Don’t
refer a surveyor that you wouldn’t want surveying your
own boat; ethically there should be no difference between
a good surveyor when you’re “buying” and
a good surveyor when you’re “selling”.
