Boat inspection

Why Have a Marine Survey?

When purchasing a pre-owned boat, a marine survey is an essential step to secure your purchase and gain a clear understanding of the vessel’s actual condition.

Protection for the Buyer

Carried out by a qualified marine surveyor, the survey assesses the vessel’s overall condition, identifies any potential defects, and highlights any maintenance or repair work that may be required.

It also allows you to become more familiar with your future boat and anticipate any work that may be necessary in the short or medium term.

When Can the Purchase Be Cancelled?

A survey does not allow the buyer to simply withdraw from the purchase because of minor defects, normal wear and tear, or routine maintenance requirements.

Any conditions precedent must be satisfied or invoked within the time limits specified in the purchase agreement. Once these conditions have been fulfilled, the transaction can be definitively confirmed.

This is why it is essential to carefully read the purchase agreement, particularly the conditions precedent relating to the survey.

Where provided for in the purchase agreement, the sale may, in particular, be cancelled in the event of a serious structural defect rendering the vessel unfit for navigation.

In the event of any doubt or disagreement regarding the surveyor’s conclusions, it is essential to obtain a second, independent survey in order to clarify the situation and address any incorrect, or sometimes questionable, interpretations resulting from a poorly drafted survey report.

If the requirements of a condition precedent are met, the 10% deposit is refunded to the buyer, in accordance with the terms of the purchase agreement.

Insurance and Assistance

A survey may also be required by the insurance company before agreeing to insure the vessel.

The choice of surveyor always remains with the buyer. A&C Yacht Brokers can, however, provide details of recognized and independent marine surveyors.

Here is a list of certified marine surveyors in the Caribbean whose reliability and professionalism we can vouch for.

Good to Know