Thursday, September 30, 2010

Valuation or Appraisal Survey

It is a common fact that for acquiring a second hand boat or buying a new brand yacht, you may have to undergo a complete boat survey. The survey highlights the current status of the boat and lists its actual price after considering all the prominent factors such as duration of use, purpose of buying, addition or constructions, date of manufacturing, capacity etc. If you are a resident of the United States, boat surveying is a must process for you before selling or buying any boat or yacht.

A survey actually records all the paper work is required to justify a fair market value of the boat in the international market. Also, the survey finds out if the price of the boat has gone down below economic repair. Many of insurance related matters require a complete survey of the asset in order to determine the exact premium on a yearly basis.

The valuation report could be required for obtaining a marine mortgage, a divorce settlement, inheritance and estate considerations for deceased estates.

0 comments:

Post a Comment