First Time Buyer. Help!

On Tue, 06 Apr 2004 19:22:25 +0000, G.R. Patterson III wrote:



Greg Copeland wrote:

I recently read an article where the author recommended paying for an
annual versus a pre-buy inspection. That way, new parts and serviced
items are on the old seller and not the new owner. Which, as you found,
often seem to pop up when it's time for the annual on your new plane.

This certainly seemed like sound advice? Anyone care to make a counter
point?

You will find it very hard to get the old owner to agree to those terms. It is quite
possible to get an owner to agree to having the inspection be done by your mechanic
as an annual. The usual terms are that glitches found are discussed after the annual
and the existing owner is free to walk away if you try to leverage the price down too
much. In that case, your IA may not get to see the logs until after you purchase the
plane, and the new parts and serviced items are still probably on you.

As toecutter pointed out the last time this sort of thing was discussed, the IA will
have to make a written record of the glitches, but few owners would hand the actual
logs over under those terms. Another poster stated that his tactic is to allow the
mechanic to inspect the logs before inspecting the plane, while the owner keeps the
logs during the aircraft inspection. When I sold my Cessna, I held the logs and the
IA did not touch them until after the deal was done.

In my case, the owner wanted the inspection to be an annual just because he wanted a
full year before doing it again. It only cost him about $100 more than getting a
pre-purchase done.

George Patterson

Okay. Fair points. So, assuming that the seller will allow it, does it
appear to be the preferred route? Granted, while the seller could walk,
it seems like it still bought you protection. Especially so, if the
seller isn't willing to price accordingly. Even if the annual is put on
the logs until post-sale, sure seems like the preferred path?

Ya, I know I'm being pedantic here, but I'm am looking for any downside to
this strategy. Thus far, it all seems like nothing but goodness.

Greg Copeland

Greg Copeland wrote:

Okay. Fair points. So, assuming that the seller will allow it, does it
appear to be the preferred route?

Absolutely; just don't expect the seller to pay for a bunch of stuff your mechanic
finds, when *his* mechanic either didn't notice or doesn't think it's important. The
technique has several advantages, from the buyer's viewpoint. For one thing, it
prevents "surprises" at the first annual, since this *is* the first annual. If your
IA finds stuff you don't want to pay for, and the owner won't pay for it, you're not
stuck. If you buy the plane, you're not looking at an annual within the next few
months, as might be the case with a pre-buy inspection.

The most important thing in my opinion is that prospective buyers may take the
results of a pre-buy inspection too lightly; few mechanics will come right out and
say, "If I were you, I'd run from this one." Their usual approach is to tell you what
they've found and assume that you know how serious it is. Change that to an annual,
however, and they hand you a list of squawks and an estimate of the cost. That
estimate tends to get your attention, and much of it has to be done right now.

It is important to arrange an understanding with all concerned that, if you buy the
plane, the inspection will be logged as an annual. If you don't buy the plane, it was
a pre-purchase inspection.

George Patterson
This marriage is off to a shaky start. The groom just asked the band to
play "Your cheatin' heart", and the bride just requested "Don't come home
a'drinkin' with lovin' on your mind".