with regards to surveys

[Dan L.]

If I were buying a $2500 typhoon I wouldn't get a survey.But if it was a CD30 obviously I would,(especially since the bank would require it .)
Now considering that Boat US, among others, insures boats with out a survey, Where do you draw the line?
{Professional surveyors need not reply.}

[Ken Cave]

Boat US usually does not require a survey on trailerable boats.

Boats that can not be hauled by a trailer are usually required to have a survey.

If you do not want to pay $250.00 or so for a survey, be sure to take a friend with you that knows this boat to help you in finding out potential problems that might occur.

Ken Cave



bcave@whidbey.net

[Russell]

Even a novice buying a $2,500 boat might benefit by finding someone more experienced who will give it a one-hour inspection with oral discussion. Most likely, this is a more experienced sailor friend. But if a professional is willing to do this for $50, would you not think it a reasonable approach? Of course, it requires several hours to survey even a small boat in a fashion that supports a report suitable for an insurance company or bank. If you figure it costs at least $200 for this kind of survey, that means it likely doesn't make sense unless the boat is worth at least $10K.

I would offer three conclusions. (a) Any boat with commercial value can justify a survey in proportion to its value, even if this is just a look-see-tell by a friend. (b) Formal surveys as required by banks and insurance companies start to make sense when the price tag has five or more figures. (c) There are lots of good reasons not to borrow money to buy a boat, and precious few good ones. (I snuck that one in.)

[Neil Gordon]

>>There are lots of good reasons not to borrow money to buy a boat, ...<<

If the bank takes your house, you can live on the boat. One mortgage is more than enough.


Regards, Neil
s/v LIQUIDITY
Cape Dory 28 #167



neil@nrgordon.com

[Neil Gordon]

The purpose of the survey, from the insurance company's point of view, in particular, is to see if the boat is a good risk or not. (The bank might be more interested in value.) Anyone who goes to sea in the same boat ought to have the same point of view.


Regards, Neil
s/v LIQUIDITY
Cape Dory 28 #167



neil@nrgordon.com

[Mario]

If I were buying a $2500 typhoon I wouldn't get a survey.But if it was a CD30 obviously I would,(especially since the bank would require it .)
Now considering that Boat US, among others, insures boats with out a survey, Where do you draw the line?
{Professional surveyors need not reply.}

Hmmmm...we insure our CD30 with Boat US, and they asked for a copy of the survey, and then told us to repair several items and install a fuel cut off valve, as recommended by the surveyor. We didn't mind, as we were planning on getting the repairs done anyway. Still, it was my impression that insurance was contingent on the survey. Perhaps not.

In any case, Peter Schacht of Urbanna, VA surveyed our boat, and we feel like we got an excellent bang for the buck. He spent an entire day on the boat with us and pointed out all kinds of things that we should think about for future improvements. His report was very thorough and I would recommend him to anyone. Lest you think he's only local, he told us that he surveys boats up and down the East Coast.

Mario



forenzic@aol.com