As part of our series in the yacht buyer’s guide, we now cover selecting surveyors. We also explore potential traps, the logical reasoning behind brokers’ decisions, and how to keep your eyes open as a buyer.
The survey is, without a doubt, one of the most critical parts of the buying process for a used vessel, but what does it mean to you, the purchaser? A surveyor is a qualified individual who inspects the vessel which you are negotiating to purchase. Surveyors may be further divided into specialties, but for this article, we’ll keep it simple and focus on the general survey of the boat and propulsion systems.
The first step in finding the right surveyor is to carefully consider who you are hiring. As per the standards set forth for certified professional yacht brokers (The Guide, Chapter 3 pp. 7) it is considered ethically dubious for a broker (especially a listing broker) to suggest a surveyor. A broker making a recommendation also is a poor choice on their part because it opens them up to additional liability and poor relations with the client they serve should the survey later be found to be unsatisfactory. To illustrate this, consider the following. It may be a conflict of interest for the listing broker to have a preferred surveyor which may be engaged in the act of concealing a fault or issue with the vessel in question. The consequences of this clearly can snowball and make a bad situation worse should something go wrong with your purchase.
Finding a Marine Surveyor
Finding a surveyor should start by finding a professional which has been certified by either the National Association of Marine Surveyors (NAMS) or the Society of Accredited Marine Surveyors (SAMS). SAMS and NAMS are independent agencies that certify professional surveyors and ensure that the individual claiming to be a surveyor has the needed knowledge, methods, and training needed to complete an adequate survey.
SAMS and NAMS each have an online search tool, which lists currently active certified surveyors and is a great place to start your journey in finding a qualified professional.
https://www.marinesurvey.org/
https://nams.memberclicks.net/index.php?option=com_mcdirectorysearch&view=search&id=12276#/
Mechanical Survey
Apart from a traditional survey, it is prudent to invest in a dedicated engine survey. Engine inspections can be carried out by a trusted mechanic, but we recommend that you find a factory certified service center and call them to ensure that you have a technician with the latest information on your powerplants and all the tools, training, and experience necessary to spot issues.
Finding the right mechanic is as simple as referring to the manufacturer for your engine and insisting on a rigorous fluid analysis of all applicable fluids by a laboratory. The fluid analysis will be offered by the technician performing the engine/generator/transmission inspection.
Old Tricks
One old trick that I’ve often heard for buyers to attempt is to ask the listing broker for 3 surveyors which they suggest. This is carried out with the mentality that if there is a relationship between the broker and surveyor then the broker will try to steer you to someone who will be easy for them to work with so the sale closes. Most brokers rely on their reputation which is built on trust and many a good broker will quickly say that they can’t conscientiously suggest someone.
Planning Your Survey
Once you’ve selected your surveyor, it’s time for you and your broker to make the necessary arrangements to perform the survey and sea trial. Like all things in life, an ounce of prevention is worth a pound of cure, so take the following factors into account.
- Logistics
- Where is the boat? Where is everyone expecting to meet?
- Will the boat be able to be shown to the surveyor prior to the trial for a few hours with good dockside electricity and cold engines/generators?
- Where is everyone coming from?
- Where is the haul out yard and sea trial grounds?
- Are there draft and bridge restrictions on your route?
- Is the owner certain there is adequate fuel onboard?
- Is the haul out well defined and confirmed at the yard?
- Is there adequate parking for everyone anticipated to arrive?
- Are there Security Guards that may need to be notified ahead of time?
- Has the owner provided a qualified master to operate the vessel?
- Financials
- Is the fee of the surveyor(s) confirmed and paid?
- Is the haul out fee confirmed and paid?
- Convenience
- Surveys may run long, did you or anybody onboard consider snacks, food, and drinks?
- Be sure to bring Sunglasses, Sunblock, and any medication you may need.
- Do your own homework!
- Research as much as possible about your potential purchase and the systems onboard, nothing is more detailed than an informed buyer!
- Don’t be afraid to ask questions to your broker, your surveyor, and make sure everyone is going into the survey with a reasonable amount of knowledge of the particulars of the vessel in question.
- Have Fun!
- Buying your boat can be a stressful process but it doesn’t have to be. The right attitude makes the whole process easy going and enjoyable. Remember, you’re about to start living the dream!
Conclusion
Now that you’ve got a good idea of what to look for and what to do before you survey be sure to look for our follow-up article on what happens during and after the survey. When you’re ready to start looking for your dream yacht don’t hesitate to call or email us. We’re here to help you find and close on your dream boat.
We at Painless believe the best thing someone shopping for a yacht, boat, or aircraft can do is be informed and we’re here to lend our experience to you. Even if you aren’t looking to purchase or sell right now we’re here for you.
Until Next Time,
Victor Betancourt
305 797 9412
Painless Yachts