Condition and Valuation Surveys

Damage Evaluation Surveys

Condition and Valuation Surveys

​These are performed to help a purchaser learn the true condition and value of a vessel. The survey report is composed of three main parts:

1.  A description of the vessel with a detailed inventory of major equipment. Photos are appended to the end of the report.

2.  A valuation determination.

3.  A notes section, see below.

Condition and Valuation Surveys

Notes sections contains the following information:

  • General Notes: Typically include reporting the general condition of the vessel, any special considerations or circumstances regarding the survey, specific criteria used, and Advisory or Service/Maintenance Notes.
  • Priority Findings: A list of any Findings and Recommendations legally required or considered essential for continued safe operation or use of the vessel.
  • Other Findings and Recommendation: A list of other less urgent Findings and Recommendations.

The Condition and Valuation Survey report is also suitable for use by banks and insurance companies for finance or insurance underwriting purposes.

The survey includes a detailed examination of the vessel to determine its apparent condition, with deficiencies beyond normal wear and tear reported.

Additionally, most equipment will be energized to determine apparent functional status as circumstances permit and if permission is granted. However, equipment testing cannot be exhaustive.

Vessel types surveyed include: Pleasure boats and yachts both power and sail, and certain commercial vessels.

Vessel construction of all types is covered, including:

  • Fiberglass
  • Composite
  • Wood including plank on frame, strip plank, plywood, or cold molded
  • Welded steel, with ultrasonic thickness testing available
  • Welded aluminum, with ultrasonic thickness testing available

Damage Evaluation Surveys

This work is typically performed for insurance claims adjusters, or for vessel owners concerned with determining the true nature and extent of damages to a vessel.