Why Need A Surveyor

Buying any boat is a big decision and is probably the second biggest personal outlay you will ever make. It's a major decision, and bluntly, when buying a used boat YOU'RE ON YOUR OWN.

When buying a used boat there are no warranties or guarantees. How do you know...

• That the boat is even what the advert states?
• That the boat is fit for the purpose?
• That the boat is undamaged?
• That the boat is safe, sound or seaworthy?
• That the engines are serviceable?
• That the rig is safe?
• That the boat will provide good service without huge repair costs?
• That your investment is justified; are you paying too much, or too little?

If there are problems your only recourse is pursuit of the vendor through the courts; which can be along and costly procedure with unknown results. Almost everyone you will deal with in choosing and selecting your boat will be working for the vendor. Brokers, advertisers, agents, agencies are all paid buy the vendor. If you use a broker make sure they are professional, sea recognized form of contract.

Who Can Help? You need a Surveyor. 

• Your surveyor is your professional.
• Your surveyor is on your side.
• Your surveyor works for you.
• Your surveyor cares about your boating safety.
• Your surveyor protects your investment and risk.
• Your surveyor enables you to make an informed decision.

You need a professional surveyor experienced in the type of boat you are considering.  A good surveyor will help and advise you on suitability and what to look for, he will play devils advocate in your decision purchase. He is your only guarantee and back up.

How do I find a good Surveyor?

Surveyors can be found in the advertising in the yachting press, at the professional association's web sites, broker's lists. Ask around in the yard, yacht club or marina for a personal recommendation.

Alarmingly there is no legislation, qualification or requisite standard to set up as a yacht surveyor. In the Turkey look for a surveyor who is a member of an established and tangible, professional body. This ensures that the surveyor is fully accredited, scrutinized, and follows a recognized code of practice.

Points to Check, and Questions to ask, when selecting a Surveyor.

• Membership of Professional Association.
• Qualification, Experience, or Accreditation.
• Level of Professional Indemnity. Cover for you.
• Third Party Insurance. Cover for the boat/vendor.
• Specialty and or Experience in the type of craft.
• Fees. Compare Quotes - beware too cheap.
• Does the surveyor offer formal terms of business and survey instruction form?

Ask for a sample survey; see what you might get for your money, and a reference from a previous client. The Surveyor should be flexible to suit your needs or any special requirements and should explain and discuss the types and benefits of different surveys. The surveyor should be receptive to your enquiries, positive, helpful, willing and enthusiastic never casual or dismissive. Remember he is working for you.

The Survey

If at all possible attend the survey, after all it's your survey. Ask questions and talk to your surveyor, but don't stop him doing his job. The surveyor should explain what he is looking at and why and what it means. This is invaluable when you need to understand and quantify a technical report.

After the Survey

Digest your report, make notes and discuss it with your surveyor. Ask questions. It is important to understand the findings and implications of the survey report and the advice of your surveyor. You will get more meaningful information from a frank discussion than a report. If you are satisfied that you can make an informed decision, renegotiate buy the boat, or pull out.

Remember that your surveyor should still be available for help or advice on an ongoing basis.

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Surveys & Sea Trials

Care should be taken when choosing a Marine Surveyor, the industry is unregulated meaning any individual can set themselves up and call themselves a Marine Surveyor.

There are two internationally recognized British based organizations that represent surveyors. The International Institute of Marine Surveying (IIMS) and The Yacht Designers and Surveyors Association (YDSA). All surveyors are vetted before they can join either of these organizations and to keep their membership both organizations have systems which ensure continuous professional development. Any legitimate practicing surveyor would be expected to be a member of some form of surveying organization. Before you choose any surveyor please check their credentials.

The buyer’s best friend when it comes to inspecting and evaluating the condition and seaworthiness of a boat is a competent marine surveyor well versed in boat construction, as well as safety and manufacturing laws, requirements and practices.

Hire your own surveyor to be sure the inspection is done with your interests in mind.  Don’t use a surveyor recommended by the seller or rely upon a survey report provided by the owner. It could pre-date existing conditions that need repair or gloss over problems that are expensive to fix, even downright dangerous.

Gulets should be surveyed both in and out of the water. Haul-out and other fees are at the buyer’s expense. Engines should also be inspected by an independent marine mechanic.

Follow up the survey inspection with a sea trial to see how the boat handles underway. Are there performance problems that make the boat unstable? Does all the gear work properly? All electronic equipment should be tested for accuracy.

Surveys and sea trials that turn up flaws or problems can either allow you to back out of the contract without penalty or can be used to renegotiate the purchase price of the boat.

Impartial Advise

There are internationally recognized independent surveyors and experts in Turkey who can assess the condition and suitability of the Gulet for its intended purpose. The marine surveyors exist on their expertise and independence. They all have personal experience of the majority of boatyards and repair facilities in Turkey and understand the Gulet charter business.

Gulet Condition

Gulets come in all manner of shapes and designs! Though some have been built and equipped to withstand the rigors of an ocean crossing, the majority have been constructed for coastal cruising.

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Boat Registration & Safety

Every engine-equipped Gulet operating in Turkish waters, as well as many other types of boats, must be registered with a Ship Registry.

Registration numbers consisting of a four number and home port and a combination of letters and numbers are displayed on the bow. Sea worthiness is usually renewed every year.

Boat registration is similar to car registration. Mostly, registration fees pay for the enforcement of navigation and pollution rules. Registration programs also aid in identifying lost or stolen boats. Not always required that boats be titled, so ownership can also be established through boat registration records.

Re-Registration 

You will receive an invoice and registration papers(bill of sell, deletion certificate), for re-registration into your name. Ask your broker if they have yacht purchase legal formalities follow up services and import and export formalities follow up services to do all these formalities for you. If no, they should have a good contact for these services. Expect to be required to pay cost of purchase legal formalities

Boating Safety

“Fun,” “speed,” “freedom” and “escape” are the catch phrases often hyped by boat advertisers who rarely use the word “safety.” But safety is just as important since the marine environment can be unforgiving.
Safe boating means being prepared for emergencies, having a thorough understanding of how your boat operates, having proper safety equipment on board and observing these basic safety rules:

• Alcohol, drugs and boating don’t mix!
• Know how to operate your boat. Make sure your partner knows as well.
• Keep proper safety gear accessible and know how to use it.
• Wear life jackets.
• Stay alert to changes in weather and sea conditions; check the marine weather report frequently.
• Learn first aid.

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Written Warranties

It might not have the appeal of bright chrome and shiny varnish or have the exhilarating kick of a high-horsepower engine, but the manufacturer’s written warranty can make or break the new boat experience faster than a fish-finder can spot a school of blues.

Ask the warranty is the manufacturer’s promise to stand behind its products by providing service and repairs after purchase.

Since marine warranties vary widely in their coverage, comparison shop before you buy.

Look for multi-year warranties for hull structures and engines, as well as warranties for equipments. Please note that if the boat is more than 10 years old then probably there will be no valid warranties to ask.

Remember:

• Written warranties must be made available to you before you buy. Call the manufacturer of the equipments and engines for a copy if the dealer won’t provide one.
• The limited warranties on most boats and engines mean that you may end up paying for some part of the repair costs. Read the fine print to avoid surprises later on.
• New boats come with separate warranty coverage from the engine and boat manufacturers, as well as the makers of other major components.
• Fill out and return warranty cards to be sure you’ll get service when you need it.

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Deposits & Trade Ins

Deposits

Most brokers and dealers require a 10% cash payment on a used  Gulet but a nominal deposit is enough to get the dealer to write a contract. Often, the deposit is placed in an escrow account, but this is less common with private party sales.

The seller may have a right to keep all or a portion of the deposit if the buyer backs out of the deal without cause. As a buyer, you should include as many contingencies as necessary to protect your interests, including satisfactory survey and sea trial, clear title, and ability to obtain financing and insurance. On new boats, a written delivery date is crucial.

Trade-Ins

Dealers are often willing to apply the value of trade-in boats against the cost of a new boat, but be aware that you will probably not get top dollar on the price, since dealers stick close to the maxim “buy low, sell high.” In addition, dealers may scrutinize your old boat far more critically than a private buyer, since part of their profit margin will be based on how easy a trade-in boat is to sell.

With this in mind, have your boat in top condition when you bring it to the dealer.

In some states, a benefit of a trade-in arrangement is that you pay sales tax only on the price of the new boat, less the amount of the trade-in. Check with your state’s boat registration agency.

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Need A Lawyer Or Not?

Do you NEED a lawyer to buy a boat? Absolutely not. Whether you use an attorney or not should be weighed against the level of risk and complexity in the transaction. Most boat purchases that do not involve financing also do not involve an attorney. Few yacht brokers will recommend an attorney unless they anticipate a problem. On many occasions, even financed vessel transactions do not involve attorneys.

Marine transactions are best compared to real estate transactions. Property is being bought or sold. It is fundamental contract law. Each party desires (or should) a record of the sale to evidence ownership (it’s mine!) or lack thereof to deny liability (it’s NOT mine!).

When deciding whether to use an attorney, consider the level of sophistication of the party on the other side of the transaction, whether they are represented or not, and the depth of the purchase contract. If you don’t use an attorney, spell everything out with sufficient detail to determine who gets what – dishes, charts, parts, and etc. – and get the seller to state that he/she will defend any claims against the vessel for the buyer. List everything on the Contract to Purchase as well as the Bill of Sale. Complications can and do occur.

Finally, at the risk of being repetitive, if you do handle your own vessel transaction, get everything in writing. Make lists of all ground tackle, electronics, galley items and inclusions in the sale and make sure they are intended to convey with the boat. Such items can amount to tens of thousands of dollars and are often the source of dispute. You, the buyer, need to protect yourself by doing your research, know what you’re getting into, and by making a clean, clear contract

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