Lenders often require a marine survey before issuing loans against boats. If you are considering taking out a loan for a boat, the lender may request that you have it surveyed first by a qualified Marine Surveyor 33707.
A marine survey is an independent examination of the hull, engine, and other systems of a boat to determine its condition and value. Many lenders will not issue a loan without one, as the survey can provide important information about the vessel’s condition and potential hazards or problems that could affect the value of the boat.
At Suncoast Marine Surveying, our experienced and certified Marine Surveyor 33707 can provide you with all the necessary data needed to get a loan from lending institutions. We have been performing Marine Surveys in the 33707 area for years, so we know exactly what lenders look for when evaluating a boat for financing.
During the survey, a Marine Surveyor conducts a thorough examination of the boat to ensure it is seaworthy and in sound mechanical condition. The surveyor checks every part of the boat to make sure there are no issues that would reduce its market value. This includes inspecting every inch of the hull, decking, superstructure, engine, fuel tanks, bilge pumps, and other systems. All components that are not up to standards will be noted in the survey report.
The surveyor also evaluates the age and condition of the boat’s equipment. Any upgrades, repairs, or modifications that have been made should be documented by the surveyor as well. The safety and navigational features of the boat are also inspected and their condition is noted in the report. All of these observations will help lenders decide if they are willing to issue a loan for the boat.
At Suncoast Marine Surveying, our marine surveyors will provide you with a detailed report after completing an inspection of your vessel. The report includes all of the things mentioned earlier in addition to photographs and drawings which document the items determined during the survey. This report will give lenders a better understanding of what they are evaluating which can help them decide if they will approve your loan.
Having a marine survey conducted by a qualified surveyor in Florida can be beneficial to both buyers and lenders alike. It provides an accurate view of the boat’s condition and value which helps buyers find out what they’re getting into while lenders are reassured that their investments are safe. So whether you are buying or selling a boat or looking to take out a loan against it, having a marine survey done by Suncoast Marine Surveying is always prudent.
Regardless of why you need a marine survey, choosing Suncoast Marine Surveying is always the right choice. With decades of experience in providing reliable surveys in the St. Petersburg area, you can count on us to deliver an accurate and comprehensive assessment of any type of vessel. Contact us today for professional and reliable marine surveying services!