How to read a survey report and cost the findings

How reports are organised

Each surveyor has a format. Most start with a summary and a list of recommendations, then go through the boat area by area. Many rank findings by urgency: fix now, fix soon, monitor. Read the summary first and the area sections after. Ask the surveyor to explain anything unclear while you are still at the boat.

Sort the findings

1. Safety and seaworthiness. Items that can sink the boat or hurt a person: seacocks, gas leaks, electrical faults, rudder or keel damage. Fix before you sail.
2. Major repairs. Items that change the boat's value or cost: osmosis, delaminated deck, engine faults, rig. See Osmosis: serious or superficial? and Teak deck inspection.
3. Wear and maintenance. Antifouling, batteries, hoses, cushions. They are part of owning a boat.

Put a cost on each

• Ask two yards or specialists for a written quote on each major item.
• Add the cost of haul-out, crane and berth if the repair needs them.
• Add a contingency for hidden work: a repair opens up other problems.
• Keep a spreadsheet with item, urgency, quote and who does it.

Compare with the price

Add the repair total to the asking price. Compare the result with similar boats in good order. See How to search for a used yacht in Europe. A boat that needs a large repair can still be good value if the price reflects it. A cheap boat with a long list is not always a bargain.

Questions to ask the surveyor

1. Which three items worry you most?
2. What would you fix first, if it were your boat?
3. Which findings could be worse than they look?
4. What did you not manage to inspect?

Use the report

With quotes in hand, you can negotiate or walk away. See Post-survey renegotiation: reduce, repair or walk away. Keep the report: insurers and lenders often ask for it, and the next buyer will want to see how you maintained the boat. See Surviving the buyer's survey.

Related guides

• What a survey includes, and what a surveyor does not inspect
• Post-survey renegotiation: reduce, repair or walk away
• The true cost of ownership in Spain and the Med