Doug,
Be careful about the overhaul. Low time is not always good. I looked
at one airplane that had only 600SMOH but the overhaul had been done 25
years earlier. Not only is that bad in terms of low annual usuage, it's
also way beyond Lycoming's recommendation of 12 years between overhauls.
Most sellers and brokers I spoke to refused to consider anything but
engine hours in terms of valuing the engine but calender time is
significant. There are many aircraft for sale that are within the
manufacturer's recommendations regarding hours but way beyond the 12
year recommendation. Have an experienced mechanic check the engine
thoroughly. Get an oil sample to a lab and the screen and/or filter
inspected. If possible, try to make sure the engine has at least 10 or
20 hours since the last oil change.

Dave
68 7ECA

Douglas Olson wrote:
Newcomer to group and ownership here. Hope this isn't an FAQ, but Googling
the keywords brings up too many hits that don't address my question.

I'm looking at a fairly typical first plane to buy ... 1960s Cherokee ...
that appears to be just right. It has reasonable airframe time and low
engine time. It was annualled two months ago.

My specific question is ... Since the plane was just annualled, what should
I look for in my (free, amatuer) pre-buy and ask the mechanic too look for
in the professional inspection, that would indicate a "don't buy" decision,
even if the annual is fresh.

I'm thinking about things like interior wing corrosion that are airworthy
this year and probably next, but would make the plane a poor long-term
investment.

Is this the right question to ask? Experienced, non-monetarily motivated
answers appreciated.