Friday, May 29, 2009

And the Survey Says.....


So today is the day our Marine Survey is taking place. It's a bit of a nail-biter day for us, for today our boat can be given a "pass" or a "fail".

For those of you who don't know - a marine survey, as defined by chubb.com is "An independent evaluation of a watercraft's value and condition by a professional marine surveyor. A complete marine survey consists of: (1) Accurate and detailed description of watercraft; (2) Fair Market Valuation of watercraft; (3) List of deficiencies and recommendations for repair." Basically, our trusted surveyor friend, Marc Nugent of Traverse City, is going to tell us whether or not this boat is worth buying - according to his expertise and opinion. Yikes.


Marine surveys are extremely critical, particularly when buying an older boat. While things might look pretty and shiny on the outside, that might not be the case on the inside (a cliche that rings true in so many areas!). It is the surveyor's job to uncover whatever "ugliness" lurks beyond the teak and fiberglass. Two of main things to uncover are whether or not the hull has any blisters (more common in fresh water boats and a real pain in the butt) and if there is any hull moisture (while boats get wet, you don't want them to absorb water!). These two things, depending on the degree, can greatly compromise the value and performance of a vessel - as can a myriad of other issues not mentioned here.

So today, our little baby is getting tested. She will be poked, prodded, metered, and scrutinized. If she passes - we move forward! If not, well...depending on the severity of the findings we either a) re-negotiate price b) have the owner fix said issues or c) walk away from the boat. It sounds harsh, but it is how it has to be - and yet another reason why you are never to fall in love with a boat. Until the deal is done, of course.

Fingers crossed!

Brittany & Scott

2 comments:

Peacefrog aka Tac Boston said...

How did the survey go? Can't wait to see you in a couple weeks at the NOOD

The Hannemaniacs said...

Soooo, what's the word?!?!?

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