Buying a GA Airplane
After going through this process for the second time, I figured I'd share my experience if it's your first time, or first time in a while buying an airplane. There are a lot of steps, so this video's a bit lengthy. Please let me know if you have questions or differing experiences!
Video Links:
Steve's YouTube: @CLEARED DIRECT
IG: / cleared_direct_resources
Hiring a broker: https://www.flyingmag.com/why-hire-br...
Sales Tax: https://www.gkglaw.com/site/files/pdf...
Mike Busch Books on airplane ownership: https://resources.savvyaviation.com/r...
FAA Airworthiness Directives: https://www.faa.gov/regulations_polic...
FAA Aircraft Records Request: https://aircraft.faa.gov/e.gov/nd/
State Aviation Department Registration: https://www.faa.gov/airports/resource...
Google Sheet Airplane Comparator Tool: https://docs.google.com/spreadsheets/...
VREF (Valuation Service): https://www.vref.com
@ClearedDirect
In your offer, ensure you have something like, "Offer contingent upon further document review, test flight, and pre-purchase inspection."
0:00 Intro
0:52 Broker
1:12 Mission
2:28 Budget
4:02 Mission (cont)
5:53 Maintenance
6:31 Analyzing Models
9:11 Financing
9:52 Storage
10:38 Insurance
11:13 The Hunt
12:05 Hunt - damage history
12:40 Hunt - engine time
13:40 Hunt - corrosion
14:12 Hunt - avionics
15:27 Contact Sellers
16:20 Logbook Review
19:51 Make An Offer
20:24 Negotiating Price
21:38 Purchase Agreement
21:42 Escrow - lender
21:55 Escrow - pre-buy
22:35 Escrow - closing
22:58 Registration
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