What’s Included in a Yacht Condition and Valuation Survey Report

What a Yacht Condition and Valuation Survey Report Covers

A complete C&V report documents the vessel’s identity, observed condition, and key systems. Expect organized sections such as:

• Vessel identity: make, model, year, length, HIN, registration/documentation, builder info, and principal dimensions.
• Hull and structure: hull material and construction, decks, bulkheads, stringers, transom, windows/ports, deck hardware bedding, moisture meter readings and percussion sounding notes where accessible.
• Propulsion: engines and gear (make, model, serials when accessible), mounts and alignment observations, exhaust components, cooling systems, controls, and performance observations from sea trial when conducted.
• Electrical: DC/AC systems, batteries and securing, charging, distribution panels, overcurrent protection, wiring condition, bonding/grounding, polarity/functional checks.
• Fuel: tanks and labeling, fills/vents/returns, filters, hoses, clamps, anti-siphon and shutoffs, visible corrosion or leakage indications.
• Plumbing: potable water tanks and hoses, pumps, water heater, marine sanitation devices (MSD), hoses and seacocks/through-hulls with backing and operability.
• Steering and running gear: helm, cables/hydraulic systems, rudders, struts, shafts, cutless bearings, propellers, trim tabs, thrusters as fitted.
• Safety equipment: navigation lights, fire extinguishers, alarms/detectors, PFD count when present, distress signals, bilge pumps and controls.
• Electronics and navigation: multifunction displays, radar, autopilot, VHF/AIS, transducers, and basic power-up checks if appropriate.
• Cosmetics and habitability: decks and topsides finish, interior condition, upholstery, cabinetry, and cleanliness indicating general care.

Each section notes observed condition, apparent compliance with applicable standards, and any deficiencies or recommendations.

Condition Ratings and Deficiency Categories

Findings are typically grouped and prioritized so buyers and brokers can act efficiently:

• Safety-critical: Items that materially affect seaworthiness, fire/electrical safety, fuel system integrity, steering/propulsion reliability, or risk of flooding. These often warrant prompt correction prior to use.
• Recommended repairs/maintenance: Deferred maintenance, wear, or non-urgent defects that should be addressed to preserve value and reliability.
• Observations/upgrades: Notes on aging equipment, cosmetic issues, or optional improvements that are not required for safe operation.

Condition ratings may be assigned at the system level (e.g., “good,” “serviceable,” “marginal,” “poor”) with brief rationales and photos.

Tests Performed and How Compliance Is Referenced

Within the limits of a non-destructive pre-purchase survey, common tests and checks include:

• Moisture detection and sounding: Moisture meter readings and percussion sounding on accessible hull/deck laminates to screen for elevated moisture or delamination indicators.
• Electrical checks: Spot checks for AC dockside polarity and grounding, GFCI operation, basic DC circuit protection, and battery security/ventilation.
• Fuel and exhaust inspections: Visual examination of tanks, hoses, vents, clamps, anti-siphon devices, and exhaust components for condition and routing.
• Steering/propulsion function: Operational checks at dock and during sea trial when performed, including shifts, throttle response, steering travel, and basic instrumentation.

Compliance references are typically noted against widely recognized standards and guidance, including:

• ABYC (American Boat & Yacht Council): Relevant sections for electrical (E-11), fuel (H-24/H-33), LPG/CNG (A-1), bonding/grounding, and others as applicable.
• NFPA (National Fire Protection Association): Marine-relevant fire protection guidance (commonly NFPA 302).
• USCG regulations and notices: Required carriage and equipment, navigation lights, and identification markings.

The report identifies when an observed installation appears consistent with, deviates from, or cannot be evaluated against these references due to access or test limitations.

Photographs, Identification, and Documentation

Expect clear photographic documentation of the hull exterior and interior spaces, key systems, serial/model plates when accessible, visible deficiencies, and safety equipment. The surveyor confirms and photographs the Hull Identification Number (HIN) where present, and may include engine/transmission serial numbers and capacities (fuel/water/holding) as labeled. Photos are labeled to match findings and support valuation and insurance review.

Valuation Methodology Explained

The valuation section explains how Fair Market Value (FMV) and, when requested, Replacement Cost New (RCN) are developed:

• Market comparable approach: Review of recent sold boats and current listings of the same or closely comparable make/model/age, adjusted for engine hours, equipment packages, refits, cosmetics, and regional market conditions.
• Replacement cost references: When relevant, reference to builder/MSRP histories or industry cost data to estimate RCN, followed by depreciation based on age, condition, and obsolescence.
• Adjustments and rationale: Explicit notes on significant adders/deducts (e.g., new electronics, generator, bow thruster, sail inventory, documented refits, or noted deficiencies).

The report states the concluded FMV as of the inspection date (assuming typical marketing exposure), and may provide a separate RCN figure for insurance purposes when requested.

Scope, Access, and Testing Limitations

A C&V survey is primarily visual and non-destructive. Typical limitations are clearly stated:

• No disassembly: Components are not dismantled; hidden or latent defects may not be detectable.
• Access constraints: Areas blocked by stowage, liners, headliners, sealed compartments, or owner property may be excluded.
• Environmental and power limits: Findings can be constrained by weather, dock power availability, battery charge, or inability to conduct a sea trial or haul-out.
• Specialized testing: Oil analysis, compression testing, borescope inspections, and advanced diagnostics are not included unless separately arranged.

Limitations are identified so readers understand the confidence level of each observation.

Recommendations, Priorities, and Follow-Up

Recommendations appear in a prioritized list, beginning with safety-critical items. Each recommendation cites the relevant system, concise corrective action, and any applicable standard (ABYC/NFPA/USCG) when relevant. The report may outline next steps such as:

• Immediate corrections: Safety items to address before operating the vessel.
• Maintenance planning: Recommended service intervals or near-term upkeep.
• Re-inspection or proof-of-repair: When insurers, lenders, or buyers request verification, the report explains acceptable documentation (e.g., invoices, yard work orders, photos) or optional re-inspection arrangements.

How to Read the Report: Summary vs. Full Findings

The executive summary distills the most important action items and the value conclusion. Buyers and brokers should use the summary to quickly understand safety priorities and major cost drivers, then refer to the full sections for system-by-system detail, photos, and standards references. The body of the report gives the context behind each summary point—what was tested, where it was observed, and how the conclusion was reached—so decisions are made on evidence, not just headlines.