Yacht Survey Guide

What a survey is for

A pre-purchase survey is an independent technical inspection commissioned by the buyer. Its purpose is not to confirm that a yacht is beautiful; it is to establish condition, identify defects and give the buyer a documented basis on which to proceed, renegotiate or withdraw.

The survey is normally a condition of the memorandum of agreement, with the buyer's deposit held in escrow until the findings are accepted or rejected within an agreed window.

What is usually inspected

Scope varies with the yacht's age, size, flag and class status, and is agreed in writing with the surveyor before the inspection begins.

• Hull, structure and coatings, normally with the yacht hauled out.
• Main engines, generators, gearboxes and running gear.
• Electrical systems, switchboards, batteries and shore power.
• Steering, stabilisers, thrusters and hydraulics.
• Tanks, pumps, plumbing, air conditioning and watermakers.
• Safety equipment, firefighting systems and life-saving appliances.
• Navigation, communications and automation systems.
• Tenders, toys, deck machinery and davits.

Who attends

A buyer is typically represented by the surveyor, a broker and, on larger yachts, a technical superintendent. The seller's central agent and often the captain and chief engineer attend, since crew knowledge of the yacht's history is frequently the most useful information available.

On classed yachts, class records, survey status and outstanding conditions of class are reviewed alongside the physical inspection.

How findings are used

The surveyor issues a report with findings usually ranked by severity. Structural, safety and class-related items carry the most weight; cosmetic items rarely move a price on their own.

The conventional outcomes are acceptance, acceptance with an agreed price adjustment or works list, or rejection within the survey window. What is agreed and how it is documented is a matter for the buyer's lawyer and broker, not for the surveyor.

Timing and cost

Surveys are arranged around haul-out availability, yard slots and crew movements, which is why survey dates are usually the first fixed point in a transaction timetable. Surveyor fees, yard lift costs and travel are the buyer's expense and are quoted case by case.