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Boat Surveyor Fort Myers – Is it Good to Buy a Cheap Boat?

As a first-time boat owner, your priority is not just to get the best boat but also to get the most competitively priced one. This is not an easy balance to strike. More often than not, cheap ends up being below average. If you are on a tight budget but need a good boat, you first need to involve a boat surveyor Fort Myers trusts before paying for any vessel. The role of the surveyor will be to help you understand what you are really buying.

Will the boat require expensive repairs? What is missing? How much will insurance cost? These are some of the questions an experienced boat surveyor Fort Myers will help you answer. In addition to that, you have to understand the difference between price and value.

Price versus Value

The price of a used boat will not necessarily reflect its value. This goes for both boats that have been priced too high and those that have been priced too low. This is a very interesting concept that first-time buyers ignore. Basically, the price is what you will be paying for a boat. Value, on the other hand, is what you actually get for your money. Sellers have the freedom to put any price tag on their boats. This means in most cases the price tag reflects more than the objective value of the boat. Working with a marine surveyor is the only way to determine if the boat has been overvalued or undervalued. 

There are several factors that affect the price of a boat. Here are the three main ones:

  • Emotional attachment

After owning something for a long time, we find it hard to let go of it. This is what leads to a personal attachment. Every boat owner believes that their boat is special. While that may be true to the seller, it shouldn’t affect the price of the boat. A boat surveyor will give you an objective take on how much the boat is really worth.

  • The popularity of the boat

Models that are more sought-after tend to have higher price tags. This is simply due to the law of supply and demand. As you shop around for a boat to buy, focus more on the less popular ones. The less popular vessels are often as good as the popular ones but with a low price tag. It is, however, good to research why those boats are less popular.

  • Location

Boats that are being sold in a location where more prospective buyers frequent will tend to be more expensive than one in a remote location. Therefore, if you are looking for a cheaper boat, don’t be afraid to move to the more remote boat yards.

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Marine Surveyor Estero – What Size of Boat Can You Afford?

Owning the biggest and most luxurious boat is the dream of many boat buyers. The truth, however, is only a handful of people can afford such a boat. If you are a first-time buyer who plans on using financing to buy a secondhand boat, the first thing you should do is get a lender letter (pre-approved agreement). This will show buyers how much money you can get. Second, you will have to retain the services of an experienced marine surveyor Estero trusts. The role of the surveyor is to help you understand the precise condition of the boat you are after and also help you know if it has been priced properly or not. Now let’s take a look at some of the best boats you can afford for a few hundred dollars a month with the right financing.

8-Meter Sailing Yacht

As a sailor or family, the perfect first yacht is the 8-meter sailing yacht. A good example of such a yacht is the Legend 280. An 8-meter long sailing yacht has many safety features, it is easy to sail and offers many days of fun and relaxation while out at sea. Such a boat is spacious enough for overnight trips and will come with has remarkable features like berths for 6 people. Always talk to a marine surveyor Estero recommends to get a thorough assessment of such a perfect find. The surveyor will let you know what is missing, if the set price is fair, and how much it will cost to get insurance and get the boat in perfect working condition. You can find an 8-meter sailing yacht for as little as $26,000.

11-Meter Sports Motor Boat

Do want the power and speed of a sports motorboat? Why not go for the 11-meter sports motor boat. A good example is the 2005 Cruisers Yacht Sports Series 3470. If you can get your hands on this, you will be one of the luckiest boat buyers. It has a luxurious interior finish with sun lounge areas and a full gallery and not to forget the powerful engine. You can get this boat for as little as $77,500. It is, however, important that you get an experienced marine surveyor in Estero to inspect it and ensure you don’t invest in a doomed vessel.

13-Meter Sailing Boat

This is the third budget-friendly luxury boat on our list. If what you need is a beautiful sailing yacht, this boat will offer lots of luxurious accommodation. A good example of such a boat is the Beneteau 411 Celebration model. It has three cabins which include a saloon and a curved seating area. The vessel offers space for a large group. The price for such a boat is about $130,000.

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Marine Surveyors Naples FL – What to Look for When Viewing a Used Boat

Are you ready to buy your first boat? If you are, most experts will recommend you look into used boats. They are cheaper and don’t depreciate as fast. You can upgrade to a new model once you gain boating experience. The thing with used boats is that even when they are in mint condition, they often have hidden issues. That is why it is important to always involve experienced marine surveyors Naples FL trusts. The role of the surveyors will be to help with the inspection and compile a comprehensive report that helps you understand the type of investment you are about to make.

Bringing in experienced marine surveyors Naples FL is not the only thing you need. Learning a few things about boat inspections will keep you from being shortchanged by a dishonest surveyor. Here are some of the key areas that must be looked at in a pre-purchase boat survey.

Exterior

A boat surveyor will start by inspecting the exterior of the boat to understand its condition, space, and layout. During this visual inspection, the surveyor will do the following:

  • Check for signs of damage and major repairs that have been done
  • Inspect the decks, transom, bilge as well as the fuel tank. The transom is the area where an outboard engine would be mounted.
  • Make sure the stringers are connected properly to the hull
  • If you are considering a sailing yacht, the rigging and sails must be checked

Engine and electrics

The next thing the surveyor will inspect is the engine and the electrics. The engine is the most important part of a boat. It is also very expensive to repair and replace. Making sure it is in good condition before buying a used boat is very important. The electrical systems must also be in good condition. During the inspection, the marine surveyor in Naples Florida will do the following:

  • Check the condition of the oil and ensure there is no water leak
  • Check for rust around the engine
  • Inspect the belts, hoses, and all electrical connections. The surveyor will check such electrical connections as spark plugs to ensure they are not worn or cracked
  • Check the propeller for cracks or major repairs
  • Listen to the sound the engine makes
  • Rewiring a boat is expensive. Your surveyor will inspect the electrics to ensure they are in good condition.

Interior

The interior of a boat shows you how well the boat was cared for. The surveyor will check for the following:

  • Signs of mold and mildew
  • Leaks
  • Check the windshield, hatches, and doors
  • Get an overall feel of the cabin

A lot goes into a boat inspection. The best thing you can do is work with experienced marine surveyors in Naples FL. Resist the urge to inspect the boat on your own.

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Boat Surveyors Fort Myers – How to Finance the Purchase of a Used Boat

Gone are the days you had to carry cash to buy your dream boat. Today, there are many options you can use to finance your dream. If you are in the market for a boat, this post will look at the financing option you have. First, it is important to involve boat surveyors Fort Myers trusts to know if you are buying a good boat and if the selling price is fair. With that out of the way, here is the information you must have when working with lenders.

Marine mortgages

When you need financing for a new boat, your best option is a marine mortgage. Many lenders offer this type of financing to purchase new and used boats. These lenders have varying criteria on how they qualify applicants. A common trend is requiring buyers to provide a marine survey. This is done by boat surveyors Fort Myers depends on. The surveyor will determine the fair market value of the boat and document all the issues the vessel has. This report helps lenders to determine how much to give you.

Down payment

Lenders will most likely require you to pay a deposit. You have to calculate the deposit in the initial cost. The deposit is usually 15 to 20 percent of the loan amount. However, the amount will depend on the size, age, and type of boat you are buying. Making a higher down payment will help you qualify for lower interest rates or shorter loan terms.

Loan term

The average loan term for a marine mortgage is 10 years. This can vary. If you choose a shorter loan term, your monthly repayments will be higher. It is always good to finance your boat at the lowest term possible. You must, however, make sure that the monthly payments fit your budget.

Interest rate

Just like with home mortgages, marine mortgage providers will allow you to choose between fixed-rate simple interest loans or variable rate loans. Although a variable interest rate might appear to be low, keep in mind that it can change, and you end up paying higher repayments. Fixed-rate simple interest loans are thus considered to be less risky. Again, make sure you understand how long the rate will remain fixed. Although interest rates change frequently, you can expect to pay a rate of between 3% and 8% APR.

When seeking financing for a new boat, the best thing to do is to choose a lender carefully. Make sure you understand the loan terms precisely before you commit.

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Boat Surveyor Fort Myers – Pre-Inspection Checklist

After narrowing down your search to the second-hand boat that works for you, the next step is to hire an experienced boat surveyor Fort Myers depends on. The role of the surveyor is to help with the inspection of the boat in order to create a clear picture of the vessel’s exact condition. All in all, before you can get to this stage, there are a couple of things you will have to do before the inspection. Here is a pre-inspection checklist.

Servicing and maintenance records

In order for a boat surveyor Fort Myers trusts, to do their job well, they will have to take a look at your target boat’s servicing and maintenance records. Knowing if the boat has had regular maintenance and servicing helps the boat surveyor know what to focus on in a boat inspection. As a buyer, you want to buy a boat that has been taken good care of. Ideally, a well-maintained boat will be serviced at least once every year.

Know how the boat was being used

This is yet another important piece of information you should have. What the boat was used for will give insight into how well it was looked after. For example, if the boat was a charter boat, it will be well maintained in order to keep the passengers safe. Still on how the boat was used, if it was primarily used in salty water, it will most likely have more corrosion. In this case, the surveyor will pay more attention to corrosion. You also need to get information on how it was stored, any major damage it might have incurred, and so on. The more information you have the better.

Ask about damages

Finding an accident-free boat is almost impossible. This is because boats hit submerged items and the dock all the time. However, this doesn’t mean you go for a boat that has had a major accident. Minor damages to the boat are easy to repair and conceal. Major damages, on the other hand, are hard to hide. An experienced boat surveyor in Fort Myers will be able to identify major repairs that were done on a boat. Asking the seller about any damages to the boat will help test their transparency.

Know what the price includes

Last but not least, you need to know what is included in the selling price. It is common for sellers to stage their boats in order to attract more buyers. The issue is some of the gear on board might not be included in the price. Asking what is included will help you know if the vessel is worth the investment or not. Your marine surveyor will be able to give you a list of all the items that are missing. You can use this information to negotiate a better deal with the seller.

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Marine Surveyor Estero – 3 Main Types of Marine Survey

Marine surveys are an important part of the boat buying process. They help you understand the condition the target boat is in and its fair market value. But what does a typically marine survey entail? Do you need the services of a marine surveyor Estero trusts? In this post, we will be looking at the three main types of surveys and why you need an experienced boat surveyor.

Pre-purchase survey

This is also referred to as a Full Condition Survey or a Buyer’s Report. Prospective buyers do this type of survey before buying a boat. While there are no requirements for having a pre-purchase boat survey done, doing it when buying a used boat will save you from headaches. In addition, the survey helps you know what you are buying and what the insurance company may ask for. This is the most comprehensive type of boat survey. It must, therefore, be done by an experienced marine surveyor Estero recommends. The surveyor you hire should have experience surveying boats similar to the one you are targeting.

In addition to inspecting the vessel’s structural integrity, the surveyor may recommend getting the boat out of the water to inspect the bottom of the hull. The surveyor will also encourage you to make plans for a sea trial.

Condition survey

This type of survey is not as comprehensive as a pre-purchase survey. It can be done for several reasons. A boat owner may request a surveyor to perform a condition survey to understand the maintenance needs of a vessel or identify faults. Financial lenders and insurance companies may also require a condition survey report to get an accurate market and replacement value of the vessel and its overall condition. In most cases, your insurer or financial lender may provide you with a list of items to be surveyed in a condition survey.

Damage survey

As you may have guessed, this type of survey is requested after your boat has been involved in an accident. Your insurer mostly requests a damage survey. In this case, the insurance company will send their surveyor and foot the cost. A damage survey aims to determine the extent of damage to a boat and estimate repair costs. The report lists all the work that must be done to restore the boat.

The three are the main types of marine surveys you will need. Make sure you work with an experienced marine surveyor in Estero. You don’t want a mediocre survey report, do you?

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Who Needs the Services of Marine Surveyors Naples Fl?

The first question aspiring boat owners ask is whether they need the services of marine surveyors Naples Fl or not. Of course, hiring a surveyor is an added expense. It thus makes sense why some people would want to avoid getting a survey. The truth, however, is a marine survey will save you a lot more than it costs.

After finding the boat you want to buy, you must ensure that it is in perfect condition. You want to ensure all the systems are working, all the equipment is on board, and the vessel is in perfect condition. If you have never owned a similar boat before, you will not be able to tell what is missing and what is not working. Most of the damages on a used boat are also hidden. To get a clearer picture of what you are buying, you need the input of a professional who is trained and experienced in inspecting vessels like the one you are considering. This is where the input of marine surveyors Naples Fl trusts comes in.

A marine survey, often referred to as a pre-purchase survey, involves a professional boat surveyor giving your target boat a thorough inspection. The surveyor will test every system onboard, create a list of missing items, list the damages that ought to be repaired, and give a fair market value. All this information is contained in a survey report. Pictures will also be included. It is not a surveyor’s job to advise you on whether to buy or not to buy a boat. Instead, their role is to give you a comprehensive and unbiased review of your prospective purchase.

Types of marine surveys

Many types of surveys are done. Here are the four main ones:

  • Insurance survey

This is the most basic type of marine survey. It is done to give a general overview of the boat’s condition. In most cases, an insurance provider will provide a list of items that ought to be inspected in the survey.

  • Finance survey

A finance survey is similar to an insurance survey. The only difference is that it is done to determine the actual value of a boat that will be used as collateral for a loan.

  • Pre- or post-transport survey

This survey aims to assess the overall condition of a boat before or after it has been transported. It is done for insurance purposes.

  • Full condition survey

This is the most comprehensive type of marine survey. It delves deeper into the boat’s condition. The surveyor will check everything from the safety systems and electronics to the vessel’s structural integrity. Different boats have different requirements. The marine surveyors in Naples Fl that you work with should have experience inspecting vessels similar to the one you are considering.

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Boat Surveyors Fort Myers – Simple Guide to Help You Find the Perfect Boat

After deciding to buy a boat, the next step is finding the one that will be perfect for you. This is never easy. The market has so many options. If you have the budget, you can buy a brand new boat that can be customized to your specifications. However, if you are like most people, buying a used boat will save you money, help you afford a bigger boat, and avoid the pain of seeing the rapid depreciation of a new boat. You must, however, involve boat surveyors Fort Myers trusts, especially when buying a used boat.

What type of boat suits you?

This is the first question you must answer before you commence your search for a boat. If you have the budget and are interested in leisure, a yacht might be a good choice for you. A speedboat will be ideal if you love speed and enjoy flying over the waves at breakneck knots. The question you need to answer is what you need the boat for.

At times, buyers choose the wrong boat for their desired activity. To avoid making this mistake, you should consider involving boat surveyors Fort Myers trusts. After finding a boat you feel is perfect for fishing, water skiing, scuba diving or any other activity you are interested in, you need the input of a marine surveyor to help you know if the boat is perfect for the job. The surveyor will also inspect your target boat for damages and missing equipment and confirm that the paperwork is in order.

Set a budget

As aforementioned, you will be spoilt for choice when you start searching for a boat to buy. To keep yourself from being overwhelmed, you need to set a budget. The best thing about having a budget is that it helps you focus on the boats you can actually afford. Your budget should not just include the cost of buying a boat. It should include the cost of insurance, maintenance and other costs.  

Be specific

When searching for the boat you want, it is easy for the brokers and private sellers to convince you to buy something you didn’t plan for. That is why you must be as specific as possible. You need to narrow your search down to the manufacturer and model you want. You also need to compile a list of the equipment you want on your dream boat. Doing so will keep you from being swayed away.

Once you find your dream boat, don’t commit to it without having a professional inspect it first. The input of a boat surveyor in Fort Myers will help you uncover problems on the boat and help you know if you are getting a good deal or not.

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Boat Surveyor Fort Myers – Winter Boat Buying Tips

Winter is the off-season for boat buying. It is also a time when boating tends to come to a standstill. If you can brave the cold, winter is the best time to start shopping around for your dream boat and get the best deal. However, the rule of thumb is to involve an experienced boat surveyor Fort Myers trust to help with boat inspections. Never buy a boat simply because the price tag is unbeatable. Take time to look inside. A boat surveyor will make you aware of all the problems the vessel has and the fair market value of the boat.

Winter is the best time to get unbeatable deals and ample time when shopping for a boat. Here are important tips you should use when shopping during winter.

Research the boat model and type

The best place to start your search is online. Here you will find postings of virtually all types of boats. As you explore the boats by type, size, geographic area, and more, you need to pay special attention to the boat’s model. What is the model of the boat? When was it built? Who built it? If you are unsure which boat type, brand, or model is perfect for you, you can call a boat surveyor Fort Myers trusts for help. A surveyor will inspect the model you are considering and give you useful information. You can then use this information to determine if the vessel is the right fit for you or not.

Check the resale values

Just like with some car models, some boats have terrible resale value. If you are buying your first boat, you will need to sell it at one point in time. You don’t want to get peanuts for it, do you? That is why it is so important to research the resale value before buying. You can start with market comparisons online. Take a look at how much similar models are selling for. You also need to involve a professional. You can talk to a yardmaster, boat surveyor, or mechanic to learn more about the boat model you are considering. What is its resale value?

Inquire about the boat now

People make a mistake after finding their dream boat during winter by waiting until spring to inquire about it. The demand for boats is usually higher during spring, and another buyer might make an offer before you if you wait too long. So, if you like a boat, inquire about it now. Once you make an offer, you can arrange a boat inspection when the weather improves.

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Marine Surveyor Estero – Understanding a Pre-Purchase Survey

Many prospective boat buyers ask whether they need a pre-purchase survey. The answer is yes. Hiring a marine surveyor Estero trusts to perform a boat survey is a worthwhile investment. You should hire a surveyor even when buying used boats in good working condition. The purpose of a survey is to give you a better understanding of the vessel you are buying. It helps avoid buying a boat that will cost a lot of money in repairs or one that is doomed. Understanding the process of a survey is important. Here is what you should know.

What is in a survey report?

A marine surveyor Estero trusts will thoroughly check the vessel from the bottom up. Surveyors inspect a vessel using official guidelines such as the Code of Federal Regulations. This regulation covers the minimum requirements for the engine, safety equipment, electrical systems, fuel system, navigation lights, and waste systems. If the vessel is less than 24 meters long, it will be surveyed using The Marine and Coastguard Agency’s Code of Compliance.

The job of a boat surveyor is to identify the areas that are unsafe or need immediate repairs. Surveyors never give a personal opinion on whether to buy the boat or not. Instead, they simply compile a detailed and factual report which informs your decision. The report includes a comprehensive description of the boat, its systems, findings of the surveyor, the overall condition of the boat, and the fair market value of the vessel. Photos of the surveyor’s findings will also be included.

The process

The first point you must understand about working with a marine surveyor is that they never take components apart to look inside. Their work is only to observe, listen and report. If they feel a closer examination is needed, they will recommend you bring in a mechanic or an electrician.

The marine survey process is pretty straightforward. The survey typically lasts a full day though it might take longer if the boat is larger. You will get a survey report within a couple of days. You must pick a surveyor with care and be patient to avoid rushing the process. You have to liaise with the seller or broker to facilitate the survey as well as make arrangements for taking the vessel out of water.

Sea trials

To better understand the vessel, a surveyor may insist on a sea trial. Unfortunately, sea trials are not included as standards in pre-purchase surveys. They can, however, be arranged for an extra fee. A sea trial helps get a better feel of the vessel and helps the surveyor to look at how the engine runs. Don’t bring more than three friends on the day of the sea trial.

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