A marine survey is an opinion of condition and value of a boat, comparable to an appraisal of a home, performed by a licensed, certified surveyor.
Lenders rely on vessel documentation to secure their lien, even on the high seas.
A documentation company registers the vessel with the Coast Guard and also prepares a Preferred Ships Mortgage which protects the lender. The Coast Guard will document vessels with a 5 net ton displacement or more according to a lengthy Coast Guard formula, but a good rule of thumb is to assume any vessel over 26 feet in length will need to be documented. We finance and refinance motor or sail powered pleasure boats for recreational purposes. We cannot finance for use in commercial or charter vessel ventures. Yes, Forward Financial is very active in the major boat shows.