Why Have a Survey Before Selling Your Boat?

While many people hire marine engineers to survey boats before they buy them, sellers can also benefit from a survey before they list their boats for sale. Here, the marine surveyor would run a typical pre-purchase survey; however, they would do the survey for you rather than a buyer.

What are the benefits of commissioning a survey before you sell your boat?

Get an Independent Valuation

While you might already know how much you want to sell your boat for, your figure might not reflect its fair market value. You might be disappointed when a prospective buyer runs their own survey that shows that your value is too high.

If you have your own survey done first, then you get an independent market valuation. This helps you decide on a selling price that is likely to attract serious buyers.

Get an In-Depth Condition Assessment

Even if your boat seems to be in good condition, you might not have the mechanical or technical expertise to spot damage or defects. You won't necessarily know if there is anything wrong with a part, system or piece of equipment that could pose a problem when you come to sell the vessel.

A marine engineer can run a condition survey for you. They can assess the current condition of the boat and identify any immediate problems. They can also find areas that might affect the sale. For example, if a part in your engine is on its last legs, then the engineer can give you a heads-up that you have a problem in that area that a buyer's survey is likely to find too.

Get Tips on Repair Options

The value a prospective buyer puts on your boat might be lower than the value you give it. The more problems the boat has, even if they are small and relatively insignificant, the less value the boat has to a buyer. Any problem is a potential cost to someone who wants to buy the boat.

If you run a survey before you sell, then you can see if you have any easy fixes. For example, changing a failing bilge hose or old fuel filter won't cost that much money, but it gives buyers fewer things to haggle over. The money you spend here could help you get your target price.

However, if the survey shows a significant problem, like imminent engine failure, then you might have to accept that you'll get less money for the boat than you wanted. It might not be cost-effective for you to put in a new engine at this stage.

To find out more, call local marine engineers and ask about their inspection survey services.