Okay .. been thru this a few times ..advice follows:

If you're going to put money down be sure you have a contract that spells
out all the details. Such as .. under exactly what conditions do you get
your
money back. What level of discrpencies on the prebuy will trigger a refund?
What if you fail to complete the sale? What if major airworthiness issues
are
found and you can't come to an agreement on an adjusted price?

As far as the amount .. I've always been asked for at least $1000. But this
is between you and the seller. Of the planes I've sold I've never asked for
a
downpayment or a contract. I've simply held it for each buyer while they did
their prebuy and told them if they changed their mind .. just walk away ..
no
big deal. The last couple planes I sold went very quickly .. less than a
week.

Have AOPA run a title search. It's worth the $95. They'll search for
accident
and incident records, liens, all 337s on file with FAA, registration history
on file with FAA. Make sure there are no breaks in the title chain and
all transfers were correctly filled out. Make sure the logs jive with the
337s and accident history.
I've found accidents on file with FAA and no 337s or log entries as to
how it was repaired. Damage history isn't neccessarily a deal killer if it
was repaired and documented properly.

Use an escrow agent. Buy title insurance.

If you find something good, don't dawdle. In my search for my current
plane every time I though I found a good prospect and called .. it was sold.
The good ones go fast.

In the logs look for a consistent history of fixing things regularly as
needed.
Be suspicious of paint and interior right before a sale. Could be covering
something up.

Expect some things to come up after your purchase. There just always seems
to be some things that you want to do .. or that need attention .. no matter
how good the prebuy was. I try to have about 5% of the purchase price
set aside for this.

Do a good estimate on the costs of ownership. Now double it.

Enjoy your plane. It's nice having a plane sitting there waiting for you
that
no one touches but you.

OW

"Casey Wilson" wrote in message
...
Hello all,

I have an opportunity to buy a 1978 C-172 that appears to be in
better
than good condition for a better than good (for me) price. The logs are
current and an annual was completed in February -- I've talked to that
mechanic and he said the ship is in good shape.
I thinking about offering a $500 good faith deposit, refundable only
if
I find something wrong in a pre-buy inspection and have cause to back out.
Does that sound fair? Should it be more or less?
I have a recommendation for a good mechanic who has never seen the
airplane but know nothing about avionics shops. The aircraft is nearby Wm.
J. Fox field in Lancaster. Any comments on the local folks there?
And to make things lively, I welcome any other suggestions about
buying
my first airplane. Well, except from the PT Barnumphytes

Regards,

Casey Wilson

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