Comparing Boats on different Coasts

I began my career as a marine surveyor working for a Ft. Lauderdale, Florida based marine surveying company in 1990. I was born in San Diego to a U.S. Navy family but “grew up” as an active boater in Florida. I moved back to California in 1993 and have lived in San Diego since.
Returning to California as a marine surveyor I noted the difference in the value of boats from coast to coast. I just returned from a trip to Florida where I surveyed a Cabo 35 for a repeat client. I was there for a family wedding and used the job as a therapeutic break and a write off. The job reminded me of the difference between boats on different coasts.
The Coast Guard’s recreational boating statistics (2014) state California has 728,679 registered boats and Florida has 873,507 registered boats. The California number declined significantly from the prior year and the Florida number increased slightly. I found several interesting websites with statistics, links are at the end of this article.
Putting values on boats in the early 1990s included researching B.U.C., N.A.D.A. and A.B.O.S. value guides. The value guides suggested upward adjustments for boats in California.
I independently noticed that vessel values were higher in California, often significantly more than the cost of transporting the boats. My recent survey follows this higher value pattern.
Boats in Florida are exposed to much harsher atmospheric conditions, more sun, heat and often more usage. The very top of Florida is 31 degrees north latitude and Key West is south of 25 degrees north. San Diego is 32 degrees north, the southernmost point of California.
The weather affects the California boating season (May through September) much more than Florida. The air and water temperatures are much higher, the sun does more damage and boats are used more often in Florida. Florida has an intercoastal waterway, allowing usage of many boats when the sea conditions are unfavorable for boating.
I have always noticed a higher valuation for California boats compared to Florida boats, with the delta in values reduced during recession years. Florida brokers report that inventory of quality boats is low, just like California. Both states were affected by the recession and accompanying lack of boat production six to eight years ago.
The takeaway is that a boat’s value is difficult to determine based on year, make and model alone. As we all know, condition is a significant factor and statistically our local boats have a higher value because they are in better condition than boats in Florida. Unfortunately for my recent client, even a California bred boat can be affected by the Florida sun and he passed on the deal.
While researching for this article I found many interesting statistical websites, including the number of registered boats, boats per capita, value of the marine industry overall per state and casualty statistics. One statistic suggested that Arizona has the most registered boats per capita, due to their state requiring registration of all types of watercraft including those without power. I also found it interesting how many more power boats there are than sailboats, also possibly an anomaly affected by the requirement to register boats with power.
uscgboating.org/library/accident-statistics/Recreational-Boating-Statistics-2014.pdf
nmma.org/assets/cabinets/Cabinet222/Florida_2015%20Infographics.pdf
nmma.org/assets/cabinets/Cabinet219/California_2015%20Infographics.pdf
statista.com/statistics/184587/number-of-recreational-boats-in-the-us/
phoenix.about.com/od/lakes/l/blboats.htm

Do I trust my broker? Part two

A client who had a bad boat selling experience said, “The only power a boat seller has in the transaction is the right of refusal.” While ultimately true and though California law protects buyers more than sellers, there are ways to prevent many of the problems my client experienced.

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He was unfamiliar with the process and made himself and the boat available to a potential buyer many times, got underway three times and then had an 11th hour offer reduction of one third of the agreed purchase price.  The deal fell through and he came to me to discuss various survey findings and the apparent sales practice that he found distasteful.

For those unfamiliar with the boat buying process, it begins with an offer, then a counter, then an agreement with time constraints for marine survey and sea trial and then another time constraint to close the deal. Researching with the several local brokers, the average time from contract inception to survey and sea trial was 14 days and another 7 to 10 days to close.  The contract includes purchase price, refundable deposit amount and other terms.  Marine survey and sea trial are performed for the buyer to gain knowledge of the condition and value of the boat.  After the survey and sea trial many boat deals are re-negotiated.  The seller is not obligated to have repairs done or allow any concession in price, but they often do so if justified by the survey’s findings.

Our client’s problems were twofold; he gave more time and energy than most sellers during the sales process and then faced a significant reduction in the offer price after marine survey and sea trial. The reduction in the offer was based on findings during the survey and sea trial, per the buyer’s broker.  Several of the findings, including blisters on the hull bottom were known to the seller prior to the survey.

To avoid last minute re-negotiations for known conditions, I suggest full disclosure in advance of survey and sea trial. I don’t recommend putting all the boat’s warts on the published listing, but I do suggest disclosing them prior to survey, especially things like blisters.  Older boats come with blemishes and they are cheaper than new boats.  Price the boat fairly, disclose the known deficiencies of significance and many of the psychologically challenging aspects of the sales process will be removed.

Some sellers make it clear that they will not reduce the price after survey, often because they feel the offer is less than the actual value of the boat. Some sellers offer a maximum survey allowance in advance.  These tactics may prevent a low ball last minute offer reduction by an unscrupulous buyer by deterring them at the onset of the deal.

An English article on this tactic calls it “chipping” or “gazundering”. We can’t know if this tactic was consciously deployed in this instance or if the buyer just had a change of opinion of value, but the results for our client were the same, negative.

Find the article at http://www.thisismoney.co.uk/money/mortgageshome/article-2400872/Chipping-new-gazundering–buyers-reneging-agreed-sale-price-And-plain-wrong.html

Do I trust my broker? Part one

Having been asked this question repeatedly at our booth in the recent San Diego boat show and many times over the years, I decided to publish my answer.

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Since we are a marine survey company, a question we often field from prospective boat buyers is “Can I trust my broker’s recommendation for a marine surveyor?”

To use a baseball analogy, this is a “hanging curveball”. I’m at bat with bases loaded and no outs!  Boat broker and marine surveyors are often at odds and I have suffered the blows of many brokers’ verbal bats.

Still my answer is, “If you trust your broker, you should trust their recommendation for marine surveyor, lender, insurance company, boat yard, mechanic, etc…, After all you trust their advice on the boat, right?”

I ask if the potential boat buyer is working with a broker that found the boat for them or if they found the boat and the broker came along, becoming their broker and the broker for the seller. This doesn’t disqualify the broker‘s referrals but the new relationship will not manifest the same trust as one developed over time with someone searching listings for you and taking you out for viewings.

I see no ethical dilemma in brokering both sides of the deal – it is common, and the broker either is or is not ethical. Of course having one broker versus two creates some ethical challenges and raises the possibility of an appearance of a conflict of interest.  It must be tricky to advise the buyer on a proper offering price when the broker already knows the seller’s bottom line.  A dedicated broker could logically be more aggressive in negotiating but the shared broker might have more influence.

If there is any question that the broker’s referral(s) are not in your best interest, don’t dismiss them, but also do your own research. The marine industry is a “small world”, ask marine industry professionals for referrals.  We all know each other’s reputations.  Network with marine surveyors, lenders, insurance agents, boat yard operators, mechanics and maritime attorneys.

Ask for several referrals instead of just one and compare the lists. Ask your boating neighbors and friends.  Search the internet, but be careful to not be influenced by one fanatical supporter or detractor.   “Due diligence” in this case does not take long and is simple.

On the other side of the coin, I just met with a repeat (marine survey) client of mine who had a bad sales experience as a boat seller, and realized many of our clients don’t go through the vessel selling process often.

In Part 2 of this article, I will share my experience on the boat selling transaction side, which I hope will be helpful.

Boatyard Contracts

Boatyard Contracts

2016-02-29 001 001A contract is a binding agreement between two or more parties. Your boat insurance policy is a contract between you and your insurance company. The work order is a contract between you and the boat yard. The clauses in these two contracts contradict and confuse and if you have an accident in the yard, you might have trouble.

What can we do? Most of us need both the service of a boat yard and boat insurance.

I firmly support the right for a business to limit its liability with a contract. Every business has this right, to the extent allowed by law, and every customer has the choice of vendors. Some contracts present more challenges than others and this article is written only as an introduction to this conundrum.

Your boat insurance policy stipulates that you cannot modify the insurance company’s legal rights or increase their liability exposure but boat yard’s work order will likely do both.

The bad news, in a worst case scenario, signing the boat yard’s work order could void your boat insurance policy in the event of a claim while your boat is in the yard. The “good” news is that it is unlikely.

Know that these types of problems may arise when you take your boat to a boat yard yourself, or when the boat is brought to the boat yard by your boat broker, captain or friend.

There are straight forward ways to avoid these conflicts. Many boat yards will allow the removal of these exculpatory clauses, hold harmless agreements, waivers of subrogation, and liability limitations. They will not do so if you do not ask. There are also special insurance riders which can be purchased to cover the gap in coverage.

This is a “hot topic” among boat yards, marine insurance professionals and maritime attorneys. Ask your boat yard, boat insurance agent and/or favorite maritime attorney if you want more details and specifics, they will give you plenty of information.

Disclosure

Disclosure

As Marine Surveyors, we are asked to determine the condition and value of a boat, often at the time of purchase. On virtually every listing there is a disclaimer stating that the specifications are believed to be correct but that the potential buyer should rely on his surveyor or other sources for verification. While disclosure of any known problems is a legal requirement during the sale of “real property”, it is not necessarily so in the sale of a vessel. So, what is the proper way to handle this issue if buying or selling a boat?

This article is being written by a marine surveyor, not a maritime attorney and not your boat broker. As always, balance it with other opinions and keep your mind open. It is our understanding of the law that the seller of a yacht is not mandated to disclose all problems (faulty engine, leaking tank, or worse – a broken ice maker…) or significant events (such as submersions, collisions, fires, etc…) to a potential buyer. It is our understanding that if the current owner is asked a specific disclosure question, he or she must answer truthfully. To do otherwise is considered fraud. The purpose of this article is not to provide legal advice but rather to put forth our opinion as to the practical means and ethical obligations of disclosure in a yacht transaction.

Ethical: pertaining to or dealing with morals or the principles morality; pertaining to right and wrong in conduct; 2. in accordance with the rules or standards for right conduct or practice especially the standards of a profession. Any right minded individual would prefer to know any significant historical facts of significance regarding the vessel that he or she intends to purchase. Equally, one should feel obliged to disclose any significant information to a potential buyer, particularly if it may lead to unexpected financial expenditures, operational difficulties or most importantly, safety issues. While communications can be verbal, we suggest disclosure statements be written. With the advent of e-mail the communication of this type of information is simple. The written statement reduces disagreement as to the specifics if and when it becomes relevant in the future.

One of the challenges to disclosure statements is the specificity in the request for information. The blanket request to disclose all known problems is much less effective than specific questions. We feel there are two basic areas of enquiry, known problems and historical events.

Among the most common problems with boats are issues with the mechanical systems, tanks, electrical systems, electronics, leaks (from above and below), coring deterioration and blisters. A series of questions specifically addressing these items, presented to the seller and answered before the deal is done, will go a long way towards providing documentation of information which should be transferred with the vessel. Follow up questions should include who has attempted repairs, when the problem was first noticed and if the problem seems stable or is it progressing.

Historical information of significance should include details of any significant catastrophic events such as submersions, fires or collisions. Again, we suggest written questions requesting specific information regarding this type of event history. Follow up questions should include repair specifics, such as which boat yard was used, when did the event occur, and what was the scope of repair. It is imperative to learn if there have been repetitive problems, i.e. water in an engine.

Major changes, upgrades or improvements in the vessel should also be documented. This would include re-powering, tank modifications, hull changes (extensions), paint jobs, re-wiring or new electronics. Again documentation can be very helpful if it includes who did the work and when it was done.

We feel that the disclosure of important information in writing leads to a positive result for the buyer, seller and the broker. For the broker, the ethical “high road” should lead to repeat business, higher income and a true sense that the right thing has been done. It is an essential part of representing your client properly, be it buyer or seller. Written disclosure of a known problem or prior event will certainly preclude problems when the malfunctioning system or event is later discovered and the buyer believes, “they had to know about that”. In the absence of this written disclosure, the opportunity for a bitter, dissatisfied client is increased. A buyer who feels that he or she has been defrauded can give rise to a bad reputation, law suits and a financial loss.top-secret1

Anyone in the business of buying and selling yachts has stories regarding disclosure. In my twenty years as a marine surveyor, I face this issue regularly. As a member of the Society of Accredited Marine Surveyors (S.A.M.S.), I communicate regularly with approximately five hundred surveyors on a “reflector” on the internet. It allows us to share information and ask questions.

Several years ago while viewing messages on the reflector, I was surprised to see an enquiry by my brother, a marine surveyor in Florida. He was asking if anyone had knowledge of the dropping of a large xxx brand motor yacht. Within minutes, I had shared with him my recollection of an event involving this particular yacht. The dropping of the xxx brand motor yacht occurred at a local boat yard over a decade prior, the damage was catastrophic. I was not professionally involved in that damage claim, but I was aware of the event. The vessel had been sold several times since the repairs were performed. My brother was working for a potential buyer and the potential seller had not disclosed the event to the potential buyer. During the survey process my brother became aware of the possibility of an event. Accidental disclosure does happen. Would disclosure have saved the deal? Who knows, but it certainly would have been the right thing to do.

I have found myself in court a few times and in deposition many times regarding conditions which were not disclosed.

Occasionally, egos, particularly male egos (being male I have license to generalize), amplify the significance of conditions which were not disclosed and can lead to litigation. One such event was the modification of a tank, from one usage to another. While the cost to return the tank to its original usage was significant, the legal fees over who was responsible for the cost were larger. It is difficult to determine the condition of tanks and their function, during a normal marine survey process. In this particular instance, the modification of the tank was not disclosed. When the new owner discovered the modification, the seller disclosed knowledge, and a legal battle ensued.

Though the idea of disclosure seems rather simple, there are nuances which complicate this issue. How bad does a problem or event need to be before it should be disclosed? Gently brushing a dock, a blown speaker or a dripping faucet cannot be expected to be disclosed. Furthermore, the statement of work that has been done can be overstated or improperly interpreted. An engine “rebuild” is often claimed but seldom means the same thing. One boat transaction resulted in a law suit after the seller stated an engine was rebuilt but later the opposing sides remembered the extent of the claimed rebuild differently. A written description of the rebuild would have certainly prevented this particularly law suit.

Currently most listing agreements do not include a section for the boat owner to list known problems or events. The listing agreements do disclaim responsibility for any problems arising from this type of omission, and most contractually obligate the seller to indemnify and defend the broker(s) from any liability arising from mistakes or omissions regarding vessel information. So, whether buying or selling the boat, it makes good sense to obtain a disclosure statement or disclose relevant information and to do so in writing.

 

This article was edited on March 1, 2016.

The Value of an Independent Appraiser

The Value of an Independent Appraiser

3170[1]  The independence of appraisers is a minor but important component for any industry. Accurate appraisals are a critical piece to any “free market” and that includes the market place for vessels. An accurate and independent appraisal is additional ballast to keep a boat deal stable, a small contribution to the righting moment. They help all sides, without prejudice. Appraiser independence is quite simply a financial and business application of THE GOLDEN RULE.

The slow healing wound in our economy is a painful reminder of problems with a lack of appraiser independence. An oversimplification? Perhaps, but it’s widely suggested that prior to the recession, real estate appraisers largely lacked independence and were instead catering to the market. One consequence is a major modification in the appraising of real estate in the United States. The government has mandated a change back towards independence. This mandated independence has resulted in increased bureaucracy and appraisal expenses.

Marine surveyors are the appraisers in the vessel market place. Market value analysis is the normal appraisal method used to appraise boats. It is an attempt to determine at what sale price an educated buyer and a non distressed seller will agree, i.e. “the fair market value”. An independent appraisal is based on comparable reported sales and listing prices and other relevant data. The value is determined by an unbiased and disinterested analysis of that data.

In our opinion and in most cases this data should be available to support the appraised value. images[5]The appraiser/marine surveyor’s client deserves an explanation of how the data resulted in the appraised value. While the marine survey or appraisal report is performed on behalf of a client, all parties to the transaction should have confidence in the independence of the appraiser. Without independence, trust is lost and without trust the value of the appraisal is… well you know what it is. You don’t need an appraiser for that.

An independent appraiser is not an advocate for a specified value. We often entertain a party to a transaction armed with data supporting their specific opinion of value. This data is often focused, narrow and exclusive of other relevant but contrary data. We have been sent old listings with asking prices which have been lowered several times by parties seeking inflated values and short sale and repo comps when seeking lower values.

The bad news is that boat values went down in 2008. The great recession, perhaps partially attributable to “captured” appraisers, cost the marine market place dearly. The good news is values are trending upward (organically, not artificially). With industry support for appraiser independence let’s keep it that way.

The Rats Ate My Deal

The Rats Ate My Deal

Our initial assignment was typical. The broker contacted us on behalf of a client interested in purchasing a 2005 Meridian 459 flybridge cockpit motor yacht. In this case, the client would not attend the inspection but requested a meeting afterwards to discuss the findings. While we encourage attending marine surveying inspections and feel it provides value added benefits, some clients prefer a more time efficient debrief after the inspection.

The inspection and findings were fairly routine. Among the items found was evidence of rodents; several pieces of bread and a few crackers were found under the saloon sofa and droppings were found in the bilge. A larger than normal number of lights were found inoperative, including many courtesy lights.18me3tmvrortxjpg[1]

The current owner’s representative acknowledged that a rodent had been aboard the vessel and had been exterminated. There had been no recent or continuing signs of a rodent aboard.

The debrief with the client, who was relatively new to boating, was again fairly routine. During the debriefing, the client focused on the rodent issue and the inoperative lights. The owner’s representative had cleaned the bread and crackers. He also explained that the courtesy lights’ bulbs were no longer available.

Subsequently, we communicated with the broker who stated that the buyer had decided not to purchase the vessel. The buyer had consulted with others and was concerned that the rodents may have damaged wires and this damage was a possible explanation as to why so many lights were inoperative. The client had asked the broker if he could guarantee there was no damage to the wires. Of course, the broker could not.

My initial reaction was surprise. The broker acknowledged having learned a valuable lesson. He deferred to the wisdom of the client making the possible connection between the rodent and the problem with the lights. While the odds may be small, the possibility does exist and most of the “experts” involved had not made the connection.

The clear lesson for a boat owner, and especially for a potential boat seller, is to address the small problems, lest they become big ones. Make sure proper cleanup is performed to finish any maintenance or repairs. Clean up the rat droppings, termite kick-out or waterlines after any infestations or water accumulation events. Repair the little things like lights and loose handles.

We can’t count the times we’ve heard potential sellers respond to a survey finding with “…it’s a simple fix”. Later, when the sale is in jeopardy, they must wonder why “it” wasn’t simply fixed.

Simplified Boat Appraising

As professional marine surveyors we appraise boats daily. We follow professional standards and appraisal methodologies, but basically we look at comparable boats’ listing and reported selling prices and compare the subject boat to the comps. This appraisal method is formally referred to as market value analysis and the value is often called the fair market value or actual cash value. While it is important for us to follow the method and protocol, it is not necessary for you and the basic methodology is relatively simple and will provide your with a good idea of the value of your boat.

Boat values are required when a boat is sold, banks like to know values for loans, insurance companies use values when underwriting policies, and various others want to know how much your boat is worth, including your soon to be “ex”. If you would like to get a good idea of its value, here are some simple tips.

The most helpful information used to evaluate the boat is the basic specifications. Manufacturer, year, length, model, size and type of engines and major upgrades or accessories. The make, year and length will provide the basic search criteria, but different models and engines can result in a large range of values. You may be amazed at the range of values between a flybridge versus an express model or diesel versus gasoline engines.

Once you know the basic specifications search for comparable boats’ listing prices. The most common electronic multiple listing sites are Yachtworld and Boat Trader. These two sites handle a majority of the boats that are being advertised for sale and are your best bet for finding the most comparable boats for sale. Yachtworld is the brokers’ site and will generally have larger and more expensive boats. Boat Trader is populated by private parties and trailer boat brokers. (Have you noticed the Trader magazines have disappeared from the racks at the convenience stores and are strictly internet publications now.)

You can also do a Google search for your boat for sale and find numerous outlets and additional information. There are a multitude of lesser known web sites and many specialize in specific types of boats, performance boats, house boats, trawlers, and even mega-yachts (YachtCouncil.com). There are also boat value sites such as BUC, ABOS, NADA that provide valuations, some for a fee.

A search tip: search for boats a year older and a year newer, after about five years condition becomes more important that age and searching a year older or newer will provide more comps. If you have a very high production boat, you can probably stick to your model year. If you are searching a limited production boat, you may have to use a multiple year range. If you have an extremely rare boat, you may have to include other similar brands of boats in your search.

Boats have model years just like cars, 2012 boats are already for sale. Since 1984 the last three digits of the hull identification number (HIN) indicate the year of production and model year. A new boat with HIN ending 112 was built in 2011 but is a 2012 model year. A HIN ending with 111 was built in 2011 and is a 2011 model year.

Another search tip: try using a broader length range. Some listings will have length data entered with actual length overall and some will have lengths that have unknown origins. The “340” model may in fact be 34 feet long, or it may be 38, including the bow plank and swim platform. Remember you are searching with a computer, a human entered the data, and another human is searching the data. The computer works precisely, it is not your spouse and does not know what you are trying to communicate. Sometimes one of the humans misspells the manufacturer or puts the length in the year field.

If you can gather a dozen or so comparable boats listing prices, you can establish a fairly accurate value. The better the comps, the better the evaluation. We use to average these asking prices and deduct ten percent for the built in “negotiating buffer”, however the listing prices have not recessed as much as the selling prices in the past three years, and a twenty to twenty five percent reduction from the asking price is not uncommon in today’s market.

A better data base includes reported sales prices, not just listing prices. These proprietary data bases are generally not available to the boating public, but are available to sales professionals and marine surveyors. While these data bases are not as accurate as the recorded sales prices for real estate, they do provide more useful sales data.

If you are planning on selling your boat, ask your broker for their opinion of value, they are very capable of this task and will do it as part of their service to you. If you need a professional appraisal, most institutions will request a marine survey and many will require an “accredited” marine surveyor, in an attempt to legitimize the appraisal. The surveyor will likely provide a market value analysis and should keep a copy of the research in their file or include the comparables in the report, to support their opinion.

Surveys for Sellers

Surveys for Sellers

A marine survey performed at the time a vessel is listed for sale allows the broker and seller the opportunity to address deficiencies in advance of the sale’s process, facilitating a smooth sales process. It also provides a realistic appraisal and it enhances the listing.

A seller’s survey, though non-traditional, has been used as an effective sales tool by many experienced sellers and brokers for some time. Identifying deficiencies in a vessel, which will inevitably lead to further negotiations, increases the closing percentage. Every deficiency which requires negotiation is another opportunity for the buyer or seller to alter the course of the sale. Negotiating repairs or contingency fees delays the sale process. Addressing deficiencies prior to the sales contract provides for a more fluid and hassle free sales process.index-kells

A recent survey commissioned by the seller found a loose steering stop. The problem was potentially serious, as a slight progression could have resulted in steering failure. Fortunately, the problem was easily addressed. This allowed the seller to choose the repairer and repair method with no pressure, effect the repair and eliminate this problem prior to the sales process. This is the type of problem, even when skillfully explained, that can create questions in the buyer’s mind. This boat is being sold and there will be no issue with the steering system during the buyer’s survey.

A seller’s survey does not necessarily preclude a buyer’s survey. A unique option we are promoting is a “split survey”. If the buyer and seller agree to share their surveys, a positive result is obtained from the purchase process, whether or not that sale is consummated. If the buyer does not proceed with the purchase, they have saved money on the survey process and the seller/owner has a full and complete survey, also at a significant savings. If the sale is consummated, the buyer has saved money on the survey cost and the seller has obtained their ultimate goal.

We offer a seller’s survey at a discount from our standard buyer’s survey price. The seller’s survey is performed in the slip, the machine systems are not tested during a sea trial, the vessel is not hauled but most deficiencies can still be reported and addressed prior to a sales contract being signed. The seller’s survey can be coupled with a sea trial and bottom inspection, funded by the buyer, and these surveys together should meet all the requirements for finance and insurance and provide the buyer and seller with a thorough condition and valuation report, inclusive of a bottom inspection and sea trial.

Some lenders and insurance carriers are requesting the surveyor comment on the function of the engines, the sea trial takes care of this issue.

In the unsteady economic times we have noticed a sharp decline in boat values. An independent appraisal of the value is advantageous to the seller and the broker. The seller can rest assured that the surveyor has no financial interest in the evaluation and the independent appraisal can assist the broker in their dealings with the seller and with potential buyers.

The existence of a recent marine survey, particularly if done by a marine surveying company known for professionalism, integrity and thoroughness, enhances a listing. It provides more information for potential buyers to consider, thus capturing their attention and increasing the chances of their making an offer. It provides additional information for brokers browsing listings and is an invaluable tool in the listing process. The existence of a recent survey provides an advantage to the seller in a tough market where any advantage is important. In the example of the steering system repair, the survey finding was addressed and the combination of the survey, recommendation compliance comment and physical repair, gives the potential buyer an indication of “pride of ownership”.

Any vessel listed for sale or potentially for sale should have the bottom inspected during each haul out. This provides a future potential buyer with documentation of the condition of the vessel and may save the expense of a second haul for survey. It provides the seller with the documentation of the condition of the bottom, which is often useful when seeking insurance or financing, which are occasionally unexpected needs.

Christian & Company Marine Surveyors is ideally suited to perform seller’s surveys. We excel in customer service and welcome enquiries from potential buyers. We communicate effectively to reduce fear and confusion while accurately portraying the condition of the vessel. Our friendly office staff facilitates the transmission of surveys, communication between clients and our three surveyors and maintains customer service at the highest level in our industry.