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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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 Posted: Mon Oct 22, 2018 5:44 pm Post subject: Aircraft purchase, payment and delivery question |
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I have a question in regard to the purchase of an aircraft, payment and delivery.
If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
Is there any way to have the seller cover mechanical problems in route during delivery? I only know about selling a car and shipping cross country. They look at it and then it needs to arrive there as they last saw it. I have seen the aircraft and I just want it transferred and delivered in the same condition as viewed. Payment is completed prior to it leaving his hangar it is just that the ownership isn't transferred until it arrives safely. This way the seller's insurance still covers him or his ferry pilot.
A lawyer I talked to you today recommended that I get it shipped FOB destination. Is this commonly used in this situation? The definition is included in the attachment.
Given all of that, how do people normally take care of this?
Feel free to PM me.
Thanks,
SAM
PS: I tried to edit the post to clear up any confusion. It is not intended to mean that you could get out of the deal for any reason and leave the seller stuck it is just to cover any problems and make sure that he won't have mechanical issues and leave the airplane at some small airport somewhere and it isn't flyable and no mechanic for miles and miles.
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Last edited by Off2wildblue on Mon Oct 22, 2018 7:37 pm; edited 1 time in total |
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Dawg
Joined: 19 May 2013
Posts: 355
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| Posted: Mon Oct 22, 2018 6:12 pm Post subject: Aircraft purchase, payment and delivery question |
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You own it before it leaves the sellers hanger. You r hiring him to deliver it.
Otherwise, go get it yourself. Get your own insurance with the seller as a listed pilot.
Sent from my iPad
| Quote: | On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
I have a question in regard to the purchase of an aircraft, payment and delivery.
If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
Given all of that, how do people normally take care of this?
Feel free to PM me.
Thanks,
SAM
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=483959#483959
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Dawg |
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taylor527(at)att.net
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| Posted: Mon Oct 22, 2018 6:20 pm Post subject: Aircraft purchase, payment and delivery question |
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Was your last aircraft a Mooney?
sorry I couldn’t help it,Pete
Sent from my iPad
| Quote: | On Oct 22, 2018, at 7:11 PM, Bill Geipel <l129bs(at)gmail.com> wrote:
You own it before it leaves the sellers hanger. You r hiring him to deliver it.
Otherwise, go get it yourself. Get your own insurance with the seller as a listed pilot.
Sent from my iPad
> On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
>
>
>
> I have a question in regard to the purchase of an aircraft, payment and delivery.
>
> If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
>
> I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
>
> Given all of that, how do people normally take care of this?
>
> Feel free to PM me.
>
> Thanks,
>
> SAM
>
>
>
>
> Read this topic online here:
>
> http://forums.matronics.com/viewtopic.php?p=483959#483959
>
>
>
>
>
>
>
>
>
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Mon Oct 22, 2018 6:27 pm Post subject: Re: Aircraft purchase, payment and delivery question |
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You’re right, that’s one way to do it. Obviously, that’s an option that I have considered, however, I’m looking for the other ways, such as FOB destination Where the funds are sent to him prior to delivery but the actual ownership is not transferred until arrival at the destination. Or, an escrow account, where the funds are released once the aircraft arrives safely at its destination. I’m just trying to figure out how people drew up those deals.
SAM
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Last edited by Off2wildblue on Tue Oct 23, 2018 4:06 am; edited 1 time in total |
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Dawg
Joined: 19 May 2013
Posts: 355
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| Posted: Mon Oct 22, 2018 6:33 pm Post subject: Aircraft purchase, payment and delivery question |
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Not picking on you, but, after reading your demands, I would be afraid to sell you an airplane. Even if you come to pick it up.
Sent from my iPad
| Quote: | On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
I have a question in regard to the purchase of an aircraft, payment and delivery.
If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
Given all of that, how do people normally take care of this?
Feel free to PM me.
Thanks,
SAM
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=483959#483959
|
| | - The Matronics Yak-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
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Dawg |
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Dawg
Joined: 19 May 2013
Posts: 355
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| Posted: Mon Oct 22, 2018 6:33 pm Post subject: Aircraft purchase, payment and delivery question |
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And I want cherry pie for desert everyday! And I want Melania to feed it to me.
LOL.
Sent from my iPad
| Quote: | On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
I have a question in regard to the purchase of an aircraft, payment and delivery.
If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
Given all of that, how do people normally take care of this?
Feel free to PM me.
Thanks,
SAM
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=483959#483959
|
| | - The Matronics Yak-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?Yak-List |
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Dawg |
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Mon Oct 22, 2018 6:36 pm Post subject: Re: Aircraft purchase, payment and delivery question |
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No problem. I understand no hard feelings. After reading your responses there’s no way you would have to ever worry about that.
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Dawg
Joined: 19 May 2013
Posts: 355
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| Posted: Mon Oct 22, 2018 6:36 pm Post subject: Aircraft purchase, payment and delivery question |
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Good one!
Sent from my iPad
| Quote: | On Oct 23, 2018, at 11:20 AM, Taylor <taylor527(at)att.net> wrote:
Was your last aircraft a Mooney?
sorry I couldn’t help it,Pete
Sent from my iPad
> On Oct 22, 2018, at 7:11 PM, Bill Geipel <l129bs(at)gmail.com> wrote:
>
>
>
> You own it before it leaves the sellers hanger. You r hiring him to deliver it.
> Otherwise, go get it yourself. Get your own insurance with the seller as a listed pilot.
>
> Sent from my iPad
>
>> On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
>>
>>
>>
>> I have a question in regard to the purchase of an aircraft, payment and delivery.
>>
>> If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
>>
>> I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
>>
>> Given all of that, how do people normally take care of this?
>>
>> Feel free to PM me.
>>
>> Thanks,
>>
>> SAM
>>
>>
>>
>>
>> Read this topic online here:
>>
>> http://forums.matronics.com/viewtopic.php?p=483959#483959
>>
>>
>>
>>
>>
>>
>>
>>
>>
>
>
>
>
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Dawg |
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Dawg
Joined: 19 May 2013
Posts: 355
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| Posted: Mon Oct 22, 2018 6:52 pm Post subject: Aircraft purchase, payment and delivery question |
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You go inspect it, fly it, whatever. Agree to buy, pay the money, shake hands and fly it home. You can hire him or whomever to deliver it but it is yours. Anything can happen on the trip home; spark plugs, mags, air compressor, engine, air leak, tire etc. They leak oil, are you going to make him fix a normal oil leak because you see a stream down one side? That is normal. Maybe you want a new airplane with a warranty? These are old, imported, fun, labor intensive airplanes. Not for the faint of heart. But a blast to fly. Requires TLC by the bucket load. That is part of the adventure.
Just buy it and welcome to the group! Lots of expert advice available on this site.
Sent from my iPad
| Quote: | On Oct 23, 2018, at 11:27 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
You’re right, that’s one way to do it. Obviously, that’s an option that I am concerned, however, I’m looking for the other ways, such as FOB destination Where the funds are sent to him prior to delivery but the actual ownership is not transferred until arrival at the destination. Or, an escrow account, where the funds are released once the aircraft arrives safely at its destination. I’m just trying to figure out how people drew up those deals.
SAM
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=483965#483965
|
| | - The Matronics Yak-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?Yak-List |
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_________________
Dawg |
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Mon Oct 22, 2018 7:43 pm Post subject: Re: Aircraft purchase, payment and delivery question |
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I understand what you are saying and I also understand the airplanes rewards and challenges. I tried to edit the original post to clarify things. I have received a few good PM's that have been quite helpful so I can already see how beneficial this site can be.
Thanks for all the great help and keep the PM's coming.
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727gs
Joined: 11 May 2016
Posts: 16
Location: Wadsworth
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| Posted: Mon Oct 22, 2018 7:53 pm Post subject: Aircraft purchase, payment and delivery question |
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I disagree. Buy it delivered to your ramp. That’s what I’ve done with my last five airplanes. The last check is waiting when the airplane is delivered in an airworthy condition.
If the seller won’t agree to that, find another. I certainly don’t mind covering their expenses but I’ve seen the “come and get it” adventure go poorly many times.
Steve
15 airplanes and counting.......
--------------------------------------------
On Mon, 10/22/18, Bill Geipel <l129bs(at)gmail.com> wrote:
Subject: Re: Re: Aircraft purchase, payment and delivery question
To: yak-list(at)matronics.com
Date: Monday, October 22, 2018, 9:42 PM
Geipel <l129bs(at)gmail.com>
You go inspect it, fly it, whatever.
Agree to buy, pay the money, shake hands and fly it home.
You can hire him or whomever to deliver it but it is yours.
Anything can happen on the trip home; spark plugs, mags, air
compressor, engine, air leak, tire etc. They leak oil, are
you going to make him fix a normal oil leak because you see
a stream down one side? That is normal. Maybe you want a new
airplane with a warranty? These are old, imported, fun,
labor intensive airplanes. Not for the faint of heart. But a
blast to fly. Requires TLC by the bucket load. That is part
of the adventure.
Just buy it and welcome to the group!
Lots of expert advice available on this site.
Sent from my iPad
> On Oct 23, 2018, at 11:27 AM,
Junkhead <Junkheademail(at)gmail.com>
wrote:
>
>
"Junkhead" <Junkheademail(at)gmail.com>
>
> You’re right, that’s one way
to do it. Obviously, that’s an option that I am concerned,
however, I’m looking for the other ways, such as FOB
destination Where the funds are sent to him prior to
delivery but the actual ownership is not transferred until
arrival at the destination. Or, an escrow account, where the
funds are released once the aircraft arrives safely at its
destination. I’m just trying to figure out how people drew
up those deals.
>
> SAM
>
>
>
>
> Read this topic online here:
>
> http://forums.matronics.com/viewtopic.php?p=483965#483965
>
>
>
>
>
>
>
>
>
The Yak-List Email Forum -
Navigator to browse
List Un/Subscription,
7-Day Browse, Chat, FAQ,
- MATRONICS WEB FORUMS -
via the Web Forums!
- NEW MATRONICS LIST WIKI -
Email List Wiki!
- List Contribution Web Site -
support!
-Matt Dralle, List Admin.
| | - The Matronics Yak-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
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Steve near Chicago |
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cjpilot710(at)aol.com
Guest
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| Posted: Tue Oct 23, 2018 1:54 am Post subject: Aircraft purchase, payment and delivery question |
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And so what happens if the buyer changes his mind on the arrival of the airplane? Will he pay ALL the expenses for the returned flight? Jim "Pappy" Goolsby
--
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mark.bitterlich(at)navy.m
Guest
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| Posted: Tue Oct 23, 2018 3:27 am Post subject: Aircraft purchase, payment and delivery question |
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I just sold an airplane, and just for the sake of conversation, I was one of the folks that refused to deliver it. More than a half a dozen folks wanted it delivered to California (I live on the East Coast). None of them were willing to put a serious deposit on the aircraft. They wanted the "Pre-Buy" inspection to be done in California.
When you added up the flight costs of the aircraft per hour, a ferry pilot to and from (they were willing to pay the price to bring it to them, but not the price to fly it back if they decided not to purchase it) hotel and meal costs, this was much more than a First Class Round Trip airline ticket to me and back.
So I refused to do that and instead asked them to come here, fly the airplane over the course of a few days and get checked out in it (I pay that), and also do a pre-buy here. I also threw in a truckload of spare parts, and oh... a spare engine.
So while I agree that it is much better to have your airplane delivered to your door where you can then say: "Oh no thanks I changed my mind", you better be willing to pay seriously for that option because I personally was having none of it. Too many tire kickers and weird folks out there.
Just the other side of the coin.
Mark
________________________________
From: owner-yak-list-server(at)matronics.com [owner-yak-list-server(at)matronics.com] on behalf of Stephen Jones [727gs(at)att.net]
Sent: Monday, October 22, 2018 11:52 PM
To: yak-list(at)matronics.com
Subject: [Non-DoD Source] Re: Re: Aircraft purchase, payment and delivery question
I disagree. Buy it delivered to your ramp. Thats what Ive done with my last five airplanes. The last check is waiting when the airplane is delivered in an airworthy condition.
If the seller wont agree to that, find another. I certainly dont mind covering their expenses but Ive seen the come and get it adventure go poorly many times.
Steve
15 airplanes and counting.......
--------------------------------------------
On Mon, 10/22/18, Bill Geipel <l129bs(at)gmail.com> wrote:
Subject: Re: Re: Aircraft purchase, payment and delivery question
To: yak-list(at)matronics.com
Date: Monday, October 22, 2018, 9:42 PM
Geipel <l129bs(at)gmail.com>
You go inspect it, fly it, whatever.
Agree to buy, pay the money, shake hands and fly it home.
You can hire him or whomever to deliver it but it is yours.
Anything can happen on the trip home; spark plugs, mags, air
compressor, engine, air leak, tire etc. They leak oil, are
you going to make him fix a normal oil leak because you see
a stream down one side? That is normal. Maybe you want a new
airplane with a warranty? These are old, imported, fun,
labor intensive airplanes. Not for the faint of heart. But a
blast to fly. Requires TLC by the bucket load. That is part
of the adventure.
Just buy it and welcome to the group!
Lots of expert advice available on this site.
Sent from my iPad
> On Oct 23, 2018, at 11:27 AM,
Junkhead <Junkheademail(at)gmail.com>
wrote:
>
>
"Junkhead" <Junkheademail(at)gmail.com>
>
> Youre right, thats one way
to do it. Obviously, thats an option that I am concerned,
however, Im looking for the other ways, such as FOB
destination Where the funds are sent to him prior to
delivery but the actual ownership is not transferred until
arrival at the destination. Or, an escrow account, where the
funds are released once the aircraft arrives safely at its
destination. Im just trying to figure out how people drew
up those deals.
>
> SAM
>
>
>
>
> Read this topic online here:
>
> http://forums.matronics.com/viewtopic.php?p=483965#483965
>
>
>
>
>
>
>
>
>
The Yak-List Email Forum -
Navigator to browse
List Un/Subscription,
7-Day Browse, Chat, FAQ,
- MATRONICS WEB FORUMS -
via the Web Forums!
- NEW MATRONICS LIST WIKI -
Email List Wiki!
- List Contribution Web Site -
support!
-Matt Dralle, List Admin.
| | - The Matronics Yak-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Tue Oct 23, 2018 3:53 am Post subject: Re: Aircraft purchase, payment and delivery question |
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Sorry I didn’t quote it. This is in response to the gentleman that asked about the buyer paying for the return flight.
Yep. Just write it in the contract and make all or part of the deposit non-refundable. Also, write in the contract very specific terms which the buyer has the right to turn down the aircraft. For example, you couldn’t refuse the aircraft for any aesthetic reason on the exterior or interior or any non-disclosed issue with a cost of over a certain mutually agreed upon amount is the responsibility of the buyer, such as a gauge failure. Lastly, you could have certain items still covered by the buyer during delivery such as a blown tire.
As the previous gentleman said, they need TLC and things happen. So both parties need to be covered. I have not owned an airplane. However, I have purchased many classic cars that need to be restored or were listed as restored. Owners would never disclose everything and you always found a bunch of surprise issues. I understand that this will happen and cannot be prevented and I’m OK with that. I just want them to be a little more honest and make sure they don’t leave you stranded in a city somewhere with an engine or system that needs completely overhauled.
I don’t know how this process normally works and I am not saying how to do it. I am simply asking for guidance from all of you.
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Tue Oct 23, 2018 4:02 am Post subject: Re: Aircraft purchase, payment and delivery question |
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I agree with you 100%. I would not agree to those terms either. I think you were more than fair.
[quote="mark.bitterlich(at)navy.m"]I just sold an airplane, and just for the sake of conversation, I was one of the folks that refused to deliver it. More than a half a dozen folks wanted it delivered to California (I live on the East Coast). None of them were willing to put a serious deposit on the aircraft. They wanted the "Pre-Buy" inspection to be done in California.
When you added up the flight costs of the aircraft per hour, a ferry pilot to and from (they were willing to pay the price to bring it to them, but not the price to fly it back if they decided not to purchase it) hotel and meal costs, this was much more than a First Class Round Trip airline ticket to me and back.
So I refused to do that and instead asked them to come here, fly the airplane over the course of a few days and get checked out in it (I pay that), and also do a pre-buy here. I also threw in a truckload of spare parts, and oh... a spare engine.
So while I agree that it is much better to have your airplane delivered to your door where you can then say: "Oh no thanks I changed my mind", you better be willing to pay seriously for that option because I personally was having none of it. Too many tire kickers and weird folks out there.
Just the other side of the coin.
Mark
________________________________
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pennington.construction.i
Guest
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| Posted: Tue Oct 23, 2018 4:19 am Post subject: Aircraft purchase, payment and delivery question |
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I completed this process successfully two years ago. It was my first airplane and I knew I wanted a big motor CJ.
There was one in Utah for sale and I went to Vegas on business and took a day hop up to Salt Lake City and met the owner, and Barry Hancock who was taking care of the airplane. We flew that day, I liked the plane and we came to an agreement for purchase.
The agreement was completed and I went back to Utah in August, I went through type training / basic maintenance with Barry and as part of his service he was my GIB for the flight from Utah to Virginia. I wouldn't trade that cross country in my new plane for much of anything. It was a great way to learn the aircraft and see how it performed in all the situations we flew through. In August lots of pop up storms and clouds and we had to avoid weather etc. Between the type training in Utah and the trouble free cross country flight home, I really felt confident to continue to learn the plane on my own and asking lots of questions of the folks here at Yak-List.
If you are serious about getting into one of these planes Yak or CJ. Get all of the experience you can as early as you can from someone with a lot of hours in the cockpit. I took advantage of the fact that my insurance broker knew Barry and so did the company that insured me then and today. After type training with Barry and an email from him letting the insurance broker I was good to go I had coverage that day.
That's how it went for me and I couldn't have been more happy.
Just one success story. I am sure there are plenty of horror stories.
Mark Pennington
N621CJ
Richmond VA
On Tue, Oct 23, 2018 at 8:00 AM Junkhead <Junkheademail(at)gmail.com (Junkheademail(at)gmail.com)> wrote:
| Quote: | --> Yak-List message posted by: "Junkhead" <Junkheademail(at)gmail.com (Junkheademail(at)gmail.com)>
Yep. Just write it in the contract and make all or part of the deposit non-refundable. Also, write in the contract very specific terms which the buyer has the right to turn down the aircraft. For example, you couldn’t refuse the aircraft for any aesthetic reason on the exterior or interior or any non-disclosed issue with a cost of over a certain mutually agreed upon amount is the responsibility of the buyer, such as a gauge failure. Lastly, you could have certain items still covered by the buyer during delivery such as a blown tire.
As the previous gentleman said, they need TLC and things happen. So both parties need to be covered. I have not owned an airplane. However, I have purchased many classic cars that need to be restored or were listed as restored. Owners would never disclose everything and you always found a bunch of surprise issues. I understand that this will happen and cannot be prevented and I’m OK with that. I just want them to be a little more honest and make sure they don’t leave you stranded in a city somewhere with an engine or system that needs completely overhauled.
I don’t know how this process normally works and I am not saying how to do it. I am simply asking for guidance from all of you.
Read this topic online here:
http://forums.matronics.com/viewtopic.php?p=483981#483981
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Off2wildblue
Joined: 18 Apr 2018
Posts: 45
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| Posted: Tue Oct 23, 2018 5:04 am Post subject: Re: Aircraft purchase, payment and delivery question |
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I originally wanted to do something like that but I just had shoulder surgery. Originally, my plan was to fly it back with my son that just received his commercial multi-engine rating. It was to be a father and son cross country multi-day trip. Unfortunately, I will now be out of the cockpit a few more months.
It sounds like you had a great experience and I am so glad it worked out for you that way.
SAM
[quote="pennington.construction.i"]I completed this process successfully two years ago. It was my first airplane and I knew I wanted a big motor CJ.
There was one in Utah for sale and I went to Vegas on business and took a day hop up to Salt Lake City and met the owner, and Barry Hancock who was taking care of the airplane. We flew that day, I liked the plane and we came to an agreement for purchase.
The agreement was completed and I went back to Utah in August, I went through type training / basic maintenance with Barry and as part of his service he was my GIB for the flight from Utah to Virginia. I wouldn't trade that cross country in my new plane for much of anything. It was a great way to learn the aircraft and see how it performed in all the situations we flew through. In August lots of pop up storms and clouds and we had to avoid weather etc. Between the type training in Utah and the trouble free cross country flight home, I really felt confident to continue to learn the plane on my own and asking lots of questions of the folks here at Yak-List.
If you are serious about getting into one of these planes Yak or CJ. Get all of the experience you can as early as you can from someone with a lot of hours in the cockpit. I took advantage of the fact that my insurance broker knew Barry and so did the company that insured me then and today. After type training with Barry and an email from him letting the insurance broker I was good to go I had coverage that day.
That's how it went for me and I couldn't have been more happy.
Just one success story. I am sure there are plenty of horror stories.
Mark Pennington
N621CJ
Richmond VA
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captPod
Joined: 06 Jan 2014
Posts: 17
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| Posted: Wed Oct 24, 2018 9:47 am Post subject: Aircraft purchase, payment and delivery question |
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Guys, this is not carvana. Normally a potential buyer would come to the airplane for sale. An aircraft prebuy inspection, while not required, is the responsibility of the purchaser and discrepancies are negotiated for repair or acceptance. Terms are agreed upon and money is exchanged. The new owner takes possession and flys away. It becomes his airplane in total.
I would never allow an aircraft to leave my state for an owners or prebuy inspection before an actual purchase. The offer takes place in my hangar, the airplane is available for inspection or flight and the transaction is completed before the new owner departs with HIS airplane. Boat sales are completed in a similar manner. The buyer comes, makes his inspection, often orders an insurance survey at an agreed upon location or boat yard. If acceptable, he makes payment and takes takes ownership. Should the boat sink a hundred yards out of the slip the seller is no longer involved.
Serious buyers will make a serious effort to purchase. Desperate sellers will make huge concessions or take unnecessary risks. Remember if you give up control over your airplane it may be very difficult and expensive to get it back.
Sent from my iPad
| Quote: | On Oct 22, 2018, at 10:18 PM, Bill Geipel <l129bs(at)gmail.com> wrote:
Not picking on you, but, after reading your demands, I would be afraid to sell you an airplane. Even if you come to pick it up.
Sent from my iPad
> On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
>
>
>
> I have a question in regard to the purchase of an aircraft, payment and delivery.
>
> If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
>
> I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
>
> Given all of that, how do people normally take care of this?
>
> Feel free to PM me.
>
> Thanks,
>
> SAM
>
>
>
>
> Read this topic online here:
>
> http://forums.matronics.com/viewtopic.php?p=483959#483959
>
>
>
>
>
>
>
>
>
|
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hess737(at)aol.com
Guest
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| Posted: Wed Oct 24, 2018 11:15 am Post subject: Aircraft purchase, payment and delivery question |
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A detailed sales agreement and an escrow agent can also help protect your interest!
Richard Hess
C 404-964-4885
| Quote: | On Oct 24, 2018, at 12:46 PM, Michael Foster <michaelfoster(at)bellsouth.net> wrote:
Guys, this is not carvana. Normally a potential buyer would come to the airplane for sale. An aircraft prebuy inspection, while not required, is the responsibility of the purchaser and discrepancies are negotiated for repair or acceptance. Terms are agreed upon and money is exchanged. The new owner takes possession and flys away. It becomes his airplane in total.
I would never allow an aircraft to leave my state for an owners or prebuy inspection before an actual purchase. The offer takes place in my hangar, the airplane is available for inspection or flight and the transaction is completed before the new owner departs with HIS airplane. Boat sales are completed in a similar manner. The buyer comes, makes his inspection, often orders an insurance survey at an agreed upon location or boat yard. If acceptable, he makes payment and takes takes ownership. Should the boat sink a hundred yards out of the slip the seller is no longer involved.
Serious buyers will make a serious effort to purchase. Desperate sellers will make huge concessions or take unnecessary risks. Remember if you give up control over your airplane it may be very difficult and expensive to get it back.
Sent from my iPad
> On Oct 22, 2018, at 10:18 PM, Bill Geipel <l129bs(at)gmail.com> wrote:
>
>
>
> Not picking on you, but, after reading your demands, I would be afraid to sell you an airplane. Even if you come to pick it up.
>
> Sent from my iPad
>
>> On Oct 23, 2018, at 10:44 AM, Junkhead <Junkheademail(at)gmail.com> wrote:
>>
>>
>>
>> I have a question in regard to the purchase of an aircraft, payment and delivery.
>>
>> If you purchase an aircraft that is located across the country what is the normal process of getting it paid and delivered?
>>
>> I would like to have it delivered by the seller and have it arrive in the same condition that is now. If something happened while being delivered I would want the seller to pay for that repair. I am willing to pay for their expense of the delivery, gas, oil, hotel and return flight but not any repairs that need done in case of a problem during the delivery process. Also, I would like their insurance to cover it during the delivery. As long as the aircraft is paid in full before leaving their airport the seller is willing to have his insurance cover it until arriving at my airport. I am just worried that insurance company will not cover it if I am the owner. So the exchange of ownership needs to take place at my airport.
>>
>> Given all of that, how do people normally take care of this?
>>
>> Feel free to PM me.
>>
>> Thanks,
>>
>> SAM
>>
>>
>>
>>
>> Read this topic online here:
>>
>> http://forums.matronics.com/viewtopic.php?p=483959#483959
>>
>>
>>
>>
>>
>>
>>
>>
>>
>
>
>
>
|
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