The ‘Appraisal’ or ‘Valuation’ survey is the most basic type of survey and is normally required where there is a need to establish a ‘fair market value’ for the vessel, perhaps for the purposes of obtaining a loan, to settle an estate, document a donation for tax, or other legal purposes. An Appraisal survey may also be used to provide basic information to insurance companies, sometimes accompanied by a brief description of the overall condition of the vessel, looking at the hull and structural integrity and some brief commentary on the equipment and its condition. Normally, this type of survey will require a haul-out for examination of the hull and underwater gear, however this may be deemed unnecessary depending on information required.