Friday, February 17, 2012

Aircraft Sales and the Pre-Purchase Inspection

The purchase or sale of a used aircraft will include a pre-purchase inspection, but what exactly is that and what should you expect? 

After your aircraft is marketed, you will eventually be presented with various offers from people wishing to purchase the plane. Accepting the offer is only the beginning of the sale of the aircraft. Basically, an offer to purchase is a theoretical offer. The buyer basically says that if the aircraft is everything you have represented it to be, then he or she would be interested in purchasing it for x amount of dollars. The pre-purchase inspection is how we separate the theoretical from the actual.
To undergo a pre-purchase inspection, the aircraft is moved to a service facility that is mutually agreeable to both buyer and seller.  Generally this will be a manufacturer’s approved repair facility as they will have the necessary knowledge and experience to perform a competent review of the plane. And that’s really all this particular inspection is, a review of the aircraft.