General Appraisal Survey

This inspection is performed to gather enough information to justify or determine the fair market value of the vessel. This is normally needed for financing, estate settlements and legal cases. A special form of this appraisal is used when donating a vessel to a tax deductible organization in that the appraisal must be entitled, "Appraisal is for Income Tax or Other Related Purpose" and an Internal Revenue Service Form 8283 attached.

Appraisal surveys determine the fair market value of the vessel for settlements or donations.

An appraisal survey is used to establish boat's value preparatory to:

• Refinancing or Second Mortgage
• Setting a Selling Price
• Donating the Boat to a Non-Profit for Tax Puposes