Specializing In
Fishing Vessels
Trawlers
Barges (Inland & Offshore)
Drill Barges
Supply Boats
Crewboats
Jo-Boats & Deck Boats
Tugs
Push Boats
House Boats
Camp Boats
Small Boats
Ferries
Military Vessels
condition & valuation survey
Condition & Valuation surveys are performed for insurance cos., underwriters, banks financial institutions, lawyers, owners, operators, charterers, property settlement cases, estate plans, lawsuits, shipyards, builders, buyers, and sellers.
A "condition" description of the vessel or barge is performed and a valuation with Market and Replacement value is determined.
Conclusions can include replacement value, market value, insured value, insurability, risks, loan amount, liability amount, financial exposure, market conditions, recommendations, settlement options, intended and suitable service and operations, etc.
Each survey or appraisal requires a complete inspection of the vessel to the extent possible. Inspection of a vessel's bottom on dry dock prior to purchase is a must. A complete internal inspection of a barge is necessary to arrive at an accurate valuation of a barge.
We are fully compliant with USPAP and Chris is a Certified as a Senior Appraiser through the American Society of Appraisers (ASA), a professional worldwide organization that sets the standards of appraisal disciplines. To be a certified marine appraiser one must pass an ethics exam, a USPAP exam, and an exam in the discipline of their expertise. Each member is required to re-certify every 5 years with over 100 hours of continuing education.
What Is Uniform Standards Of Professional Appraisal Practice (USPAP)?
Uniform Standards of Professional Appraisal Practice (USPAP) was first developed in 1987 by the Appraisal Foundation as authorized by U. S. Congress as the source of Appraisal Standard and Qualifications. The purpose of the Uniform Standards of Professional Appraisal Practice (USPAP) is to promote and maintain a high level of public trust in appraisal practice by establishing requirements for appraisers. It is essential that appraisers develop and communicate their analyses, opinions, and conclusions to intended users of their services in a manner that is meaningful and not misleading.
