So you are buying a used boat.
You found the perfect one.
You are ready to make an offer.
Did you get a marine survey?
I am sure you have heard and your broker told you to get a marine survey of the boat. But you don’t really want to spend the money on a marine survey of the boat.
You are smart. You can see the issues with the boat with your own eyes. Why bother?
A Pre-Purchase Survey is the most in-depth type of inspection. It is going to tell you the condition of everything on the boat, Electrical, drive, engine, nav, cosmetics, integrity, and so on. It will tell you all the issues in writing. Maybe what you may already know but it may also bring to the light thing you missed. This is important two-fold.
First, the obvious you need to know if there is an issue that may put you and your family at risk.
Second, it gives you a chance to re-negotiate the price. Assuming your broker did his job and worked in your Purchase Agreement that it is subject to a marine survey, you now have options. You can back out of the sale and get your deposit back. You can negotiate to have the seller fix the issue(s) at their expense. Or you could negotiate a lower purchase price and deal with the issue yourself. Or any combination of the two.
Boating is expensive and a Pre-Purchase Marine Survey is not the place to try and save a few hundred bucks.
*Getting a survey on a brand new boat is often overlooked but is definitely something you want to do.