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  #5  
Old May 23rd 07, 02:43 PM posted to rec.aviation.owning
Jay Honeck
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Posts: 3,573
Default Next step(s) in purchase?

I've decided to go for... the TB-20 Socata "Trinidad."

Which we all expect to see at the HOPS N40 Party in OSH!

:-)

2) Find one for sale meeting desires & contact seller, get further info,
etc.--ongoing


You've picked a rare bird, so your choices are going to be limited.
Luckily, the market is in the dumpster, so whatever is available
should be cheap!

3) Initiate financing--started today (HEL seems best, but any contrary
opinions here?)


Contact (I'm not kidding) First National Bank of Oskaloosa, in little
Oskaloosa, Iowa. This bank is run by pilots, and they specialize in
aircraft financing. Ask for Mary Anderson. Tell her I sent ya her
way. Contact info is he
https://www.fnbmidwest.com/
(Click on aircraft financing...)

I've had two loans from them, and never set foot in the bank. You do
not have to live anywhere near Iowa to take advantage of their
hospitality.

7d) Negotiate price--I have NO idea how to do this, any hints
appreciated!


The market is dead. Use VRef tp determine approximate value, but take
it with a grain of salt. If the asking price is at VRef levels, I'd
offer 20% under any advertised price, to start. A lot of guys have
been trying to sell their planes for many months, and may be ready to
accept ANY offer.

9) Get 5 hours time-in-type dual (insurance rqmt, and not a bad idea in my
book anyway)--considering options here, hoping I can find someplace to do
this ahead of time


Not necessary, and very difficult given the type of aircraft you're
seeking.

10) Fund escrow, close escrow, fly home!


Now THAT is the fun part!

#6: Anyone w/ advice on whom to approach for the pre-buy? Airplane is in
New England region (Hartford, CT).


This will tell the tale. If the seller isn't flexible on where the
pre-buy is done, run, do not walk from the table.

I know a lot of guys don't want strange mechanics ripping into their
plane, so let the seller help you select the shop. Get him to
recommend three shops nearby, under the presumption that he can't
bribe EVERYONE to lie about his plane. Pick one, and BE THERE WHEN IT
HAPPENS, if at all possible.

A remote, un-witnessed pre-buy inspection is just asking for trouble,
IMHO.

#9: Any advice/suggestions on where I can do this? I live in Colorado
Springs; I'm willing to travel if I must, but closer is better (read:
cheaper). Perhaps somewhere near Hartford would work well, since I may be
traveling there anyway. Note, this point really isn't tied to this specific
airplane, since it will carry to whatever plane I finally go with (unless I
change my target).


If you were buying a Skylane, you would have no troubles. Finding a
Socata is going to make it necessary for you to fly -- perhaps quickly
-- anywhere in the country. (Data point: We fly everywhere, a lot,
and I don't recall ever SEEING one anywhere, outside of Oshkosh.)

Good luck! Keep us posted.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"