That figure is usually the one the finance and insurance companies are most interested in. It will tell you whether or not to buy the boat. Most marine surveyors are hull surveyors who will closely look at the engines but who do not perform engine surveys. At Meridian Association, we feel it is in your best interest to hire a qualified mechanic, who works with engines every day, to perform your engine survey. Definitely have the survey performed prior to passing papers.
Many marine surveyors charge on a per foot basis plus additional mileage charges.
That depends on the boat. Certainly there are surveys where no problems are found. In other cases the survey may uncover problems where the cost to repair is negotiated with the seller. In today's economy repairs are expensive. At Meridian Associates we encourage the buyer to be present during at least a portion of the survey.