Next step(s) in purchase?

"Jack Allison" wrote in message
...
7) Travel--when ready on both ends
7a) Inspect logs
7b) Pre-buy inspection
7c) Test flight--who pays for this? any specific maneuvers, etc.,
to run through?
7d) Negotiate price--I have NO idea how to do this, any hints
appreciated!

It's like buying a house. We made an offer contingent upon a successful
pre-buy. We worded it such that the owner would pay for any airworthiness
issues and we'd negotiate any other squawks. Since the bird just came out
of annual, all airworthiness issues had been resolved. The squawk list
was short and minor so we opted to deal with them. It's tough to make an
offer before seeing the plane. In our case, it was pretty clean and I had
a chance to talk to the shop that did the annual. We offered approx. 10%
less than asking price, seller countered a tad higher and we accepted,
conditional on the pre-buy. We then sent the seller a deposit.

Jack, thanks for the advice. Sounds like you're telling me I'm doing it out
of order: you had a purchase agreement (presumably including selling price)
*before* the pre-buy? I see some obvious advantages to that--if there's no
agreement, you don't spend any money on inspections, etc. (much like when
one buys a house). However, it seems to be impractical, unless I make a
sight-unseen offer. How to weigh those??

Perhaps split the difference? Have a purchase agreement (with a blank
selling price) ready to go when I look at the plane/logs, write in a price &
present it to the seller after I inspect but before the pre-buy? If we
can't come to an agreement, I'm still out travel costs, but I save the
pre-buy.... Or should I be considering making the offer sight-unseen,
perhaps with some sort of "subject to inspection" clause?? I have a good
feeling about the one I'm looking at, the seller seems a straight shooter,
I've talked to his mechanic (annual just done in Apr) and others familiar
with him/his plane....

I'm sure this is easier the second (& subsequent) time around--but I'm
working harder on this than I did to buy my first house!! Thanks for
the help/advice....
--
Doug
"Where am I to go/Now that I've gone too far?" -- Golden Earring, "Twilight
Zone"
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