What you need to know when buying a boat
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Are you buying a boat? Now would be an excellent time to get the Pre-Purchase marine survey. This survey will inform you about any problems the ship might have, giving you the best start, to make a well-informed decision (see the Pre-Purchase marine survey). A skilled marine surveyor is going to provide you with a detailed report of the hull's condition and the boat systems. This report will help you with the final decision of buying the boat, and later on, you can use it to obtain the appropriate insurance for your boat.
Before you order the marine survey, it's good to be sure this is the boat you want, while being aware of its flaws. You should consider the following factors;
The cosmetic condition of the boat - is it acceptable?
Is this the type of boat you want?
Do you agree with the price?
Are you happy with the age?
If there is an option, take the boat out for a test drive, to ensure you are happy with the boat's performance.
If you are purchasing a boat with a loan, this might prove problematic. Make sure everything is in working order, before signing contracts or hiring a marine surveyor. If the lack of funds terminates the sale, you might face a penalty, and you won't be able to redeem the costs of the marine survey.
Buying from a private seller
When buying from private sellers, you should first acquire a survey report, before making any further arrangements. Don't pay any money to the seller if your decision is not final and well informed.
Arranging a lift out
The seller or broker can arrange for the boat to be lifted out of the water for a survey. But be aware the cost of the lift-out is to be paid by the buyer.
In busier marinas, the boat is usually lifted and suspended by slings, for a few hours, which allows the surveyor to take a look at the underwater part of the hull. The time to examine the boat is minimal, as the hull is not adequately dried, this can lead to wrong readings (high moisture, warnings of osmosis development).