Robert M. Gary wrote:
The problem I see with not having an agreement is when the buyer shows up
with his certified funds after having paid for a pre-buy inspection, and
finds out you just sold the plane to someone else.

That's true, especially if you allow the owner to see the pre-buy such
that he can show it to other buyers. I've bought a couple airplanes but
never had a good idea of when the best time to finalize price is. There
are two very good arguments. One says you want to agree on a general
price before the pre-buy to ensure you are in the same ballpark before
you spend money on a pre-buy (a factory service pre-buy in a Mooney is
almost $3000). The other school of thought is that its better to wait
until after the pre-buy so you can fully negotiate with the knowledge
of the pre-buy without sounding like you are nickle and diming the
owner down on the purchase price because of pre-buy items that are not
airworthiness issuse, but things that you don't care for (often more
cosmetic in nature).

-Robert

Or you come up with a price up front and stipulate in the agreement
that any airworthness issues are either payed for by the seller or
reduce the purchase price if they exceed some negotiated dollar value
that differentiates things like a bad plug from a cracked engine case.

--
Jim Pennino

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