The Importance of an Appraisal Survey for Boats

Yacht appraisal for purchase or sale

Whether you’re buying or selling a boat, it’s extremely beneficial for you to get an appraisal survey done on the vessel you’re purchasing or selling. To know the actual value of the vessel will help you to determine the accurate price tag.

What are Boat Appraisal Surveys Used For?

The reason for a boat appraisal survey is to determine the fair market value of a vessel for financing, estate, and divorce settlements, and donations to charities. Ocean Technical Services are professional marine surveyors, and we are recognized by the IRS, courts, banks, and insurance companies as boat and yacht appraisals.

The Benefits of an Appraisal

Let’s say you’re settling a legal case on the determination of the price tag of your yacht or boat, an appraisal will determine the actual value of the vessel, so the case can be settled. In the instance of donating the vessel to charity, an appraisal will benefit you because it gives a value for the donation given.

Here are some of the benefits:

  • Settles Legal Cases
  • Determines Fair Market Value
  • Helps in Selling the Vessel
  • Helps in Purchasing a Vessel
  • Knowing you won’t be getting ripped off in a purchase or sale of a vessel

Boat owners tend to donate a vessel to a nonprofit organization for tax purposes, and hiring Ocean Technical Services will ensure you that reports will hold up to IRS scrutiny, and the appraisals will conform to the Uniform Standards of Professional Appraisal Practice.

Ocean Technical Services

Here at Ocean Technical Services, we specialize in nationwide marine surveying and consulting. If you’re looking to get a boat appraisal survey done by a professional, we are the ones to turn to. Contact us at 508-958-1299 today to get a fair market value on your vessel.