The Survey

Buying a boat is a multi-step process.  First, you inspect the boat and make an offer if it suits. Once the offer is accepted, the sale is contingent on a Pre-Purchase and Condition Survey conducted by a certified marine surveyor.  (You could theoretically skip the survey, except, most insurance companies will require a survey to provide even liability coverage.)

For Grand Day Out, I hired a respected surveyor, Frank Lanier to perform the survey.

The boat was hauled out and the bottom pressure washed by Atlantic Yacht Basin.  The seller's Broker, Parker Griffo was present. The survey took all day--a full 8 hours.

Full Report

The was only one "A" or urgent recommendation. Replace the expired flares. There were 32 "B" or "when you get around to it" recommendations. Surveyors and insurance companies look at these "B" recommendations differently. The insurance company typically demands that the buyer indicate his intent to address these. Their biggest concern was that the fire extinguishers, while technically in compliance with regulations, were old and not "professionally" inspected. 

So, before repositioning, I replaced the flares and fire extinguishers with new first class more advanced versions. 

I provided the insurance company with a detailed "preventive maintenance" program that included a plan for addressing all of the "B" recommendations in a timely manner.

Grand Day Out Preventive Maintenance Program 2020-2021

Below are some pics from the survey. 

Once the survey is complete, the buyer and seller typically "negotiate" price adjustments or repairs to be made.  Since the agreed price had been reduced from the original asking price in anticipation of issues to be found in the survey, no further price changes were demanded and the purchase went forward.