Even in salt water, if the engine was not running; you can still go boating next weekend.

   *********WITH IMMEDIATE ATTENTION*********

The motor can be returned to dependable service with proper disassembly, cleaning, and reassembly:

ELECTRICAL:
In my experience quite a few of the electrical components that submerge in the salt water are still okay.

You'll usually see that all the positive terminal connections completely shorted to disintegration.
Replace terminal ends or harness.

In the process solenoids, rectifiers, breakers, switches, terminal strips are ruined.
You will most likely have to replace all those with new ones.

The stators, modules, coils, are some of the items that can be cleaned, checked, treated, and often returned to service.
Even the items that are okay now may show signs of damage in the near future so you should make a close visual inspection occasionally.

You'll be looking for a greenish powder at ends of wires and where they enter the component.
You'll also need to check all the plugs and harness for signs of corrosion after a couple weeks.

The starter can usually be disassembled, cleaned, and reused.

Of course all this takes a lot of time and checking.

If a dealer is doing the job for you, it's much easier to install all new components. (and more profitable too)

Fresh Water causes little electrical component damage since fresh water doesn't conduct electricity as salt water does.

If your motor went down in freshwater, most of the electrical components will be okay after cleaning, drying, and then maybe spraying with a little waterproof spray.

POWERHEAD:

After a salt water overboard (while not running) I usually recommend complete disassembly, cleaning, and checking of all parts, then reassembly replacing only damaged parts with new gaskets and seals.

Almost every hard part of the powerhead should be fine if the motor hasn't been exposed to air for long.

After being submerged in salt water all the machined internal parts, bearings, crank journals, rings, etc. start to rust almost right away!
Inspection, cleaning, and lubrication of the internal parts can remedy most of the salt damage.

Immediate action is critical.

When one of my customers sink a motor and brings it to me right away; if I don't have time to get to it immediately I lower the complete motor down into my fresh-water test tank til I can get to it.
This removes it from the air and starts to wash salt water out at same time.

A Fresh Water overboard is a little less damaging than salt water.

I generally remove the carburetors for cleaning and/or draining.
Then remove spark plugs and spin motor to remove water.
Spray CRC 666 in cylinders and try to get some behind reed valves.(and everywhere else,for that matter)
Spin the motor some more.
Repeat.

Tend to your electrical parts and clean and replace carbs.

Be sure all fuel and oil lines are pumping fuel and oil, not water!

Then connect the hoses to carb.

Now you can try to run engine.

I would use double oil in fuel to ensure added lubrication gets everywhere for a few hours.

Again, the electrical damage often looks worse than it actually is.

Whatever you do; do it right away.

If you have boat insurance, repairs should be covered after the deductible is paid.

On four strokes; you'll also have to change oil and filter, then run a little while and change them again.

Submerged While Running?

Motors that go overboard while running most often suffer some serious internal damage like bent and broke rods and cranks etc.
Be very careful and pay close attention to every part of the the powerhead in that case!

There's still plenty you have to take care of if the complete boat sank.
I'll get a page together soon to cover some of the electrical and mechanical areas besides the engine to take care of when submerged.

Most of the steps above are pertaining to outboards, but an inboard is similar and we'll cover those steps in detail as time allows.

You might check around quick for a mechanic, or if you attempt it yourself I will be happy to help where I can.