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Douglass Marine Company LLC Islamorada, Florida, USA Serving The Keys & All South Florida Keith L. Douglass, SAMS® AMS® Diane P. Douglass, SAMS® AMS® Principal Marine Surveyors 305-664-9702 |
Pre-Purchase Survey
This is the most comprehensive type of inspection, and is strongly advised when purchasing a new or used vessel. Condition and overall operation of the vessel should be examined. This covers structural integrity, electrical systems, the propulsion system, the fuel system, other machinery, navigation equipment, miscellaneous on-board systems, cosmetic appearance, electronics, and overall maintenance and may require an out-of-the water inspection of the hull and sea trials if requested by the prospective buyer. The condition of each of the vessel’s major systems is determined, which leads to the determination of the vessel’s overall condition, which is considered in determining the current fair market value. The replacement value is also researched.Insurance Survey The insurance Survey is performed in order for insurance companies to determine whether a vessel is an acceptable risk and in serviceable condition for her intended use. An Insurance Survey may also be needed if the vessel has received significant upgrades which may affect the current fair market value. Like the pre-purchase survey inspection, all the vessel’s major systems are inspected to determine their condition. Most often electronic equipment is visually inspected but not powered up or operated, the same for pumps with the exception of bilge pumps, which are operated where possible to do so. The insurance company may require an out of the water inspection of the hull. They will also want to know the vessel's fair market value and replacement value. 
Appraisal InspectionThis inspection is performed to gather enough information to justify or determine the fair market value of the vessel. Appraisal inspections are typically used for acquiring financing, estate settlements, charitable donations, legal situations or for an owner needing information to determine the possible selling price of their vessel, where a determination of the current fair market value is needed but not the replacement value. The level of inspection is less extensive than for a Pre-Purchase and Insurance Inspection and relies on a number of assumptions regarding the condition of some of the vessel’s major systems. Damage Assessment Inspection This inspection is performed to investigate the probable cause and extent of damage to a vessel, vessel’s equipment or if a theft is involved. The damage assessment will also involve obtaining and reviewing repair estimates and invoices. |
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