TAKING OWNERSHIP
Buying a yacht will normally require a full condition survey. An appraisal (or ‘walk through’) survey is a less detailed view if considering a number of different boats. A valuation survey might be required by a finance company, or for older yachts.
Commissioning a survey before buying a yacht is essential due diligence, giving the buyer an independent review of the complex craft with numerous systems they are about to buy. But how should you go about it?
Subject to survey’ might be the most powerful caveat to a serious offer on a yacht, yet what a good survey entails can be something of a mystery.
The international market for yacht sales is largely unregulated, so all parties are reliant on mostly independent surveyors to help them make an informed decision. Finding a good one can be half the battle.
