Carefully Attend to Transaction Mechanics & Details
Communicate all details within our Overall Integrated Plan
21-Step Strategic Aircraft Acquisition Process
Understand the client’s vision, mission, and budget, both operating and capital budget.
Develop an effective timetable that meets the client’s needs.
Determine and present various makes and models of aircraft that fit the vision, mission, and budget criteria previously developed.
Continually revise criteria and update appropriate solutions, as needed.
Begin search of aircraft for sale [advertised and unadvertised] that meet the agreed upon criteria.
Use a shared spreadsheet with detailed information to present and compare all candidate aircraft including times, equipment and relative values.
Add and delete aircraft as needed within the timetable agreed upon during regular meetings with the client, with whom all information is shared. Assist the client with making the best decision on one make and model to be acquired.
Assist with a “like kind exchange” and the necessary steps through a Qualified Intermediary, as may be needed.
Refine the search to a specific make and model including the values and the selling prices of those recently sold.
Within the established timetable, assist the client in refining the list of candidate planes to those most closely fitting the criteria agreed upon.
Begin the negotiating phase of the acquisition process by determining the level of motivation of each prospective seller.
Make initial offers, subject to an inspection process, to all motivated sellers.
Continue the negotiating process until one seller remains and an agreement can be reached.
Assist both parties in the selection of a mutually agreeable escrow service company.
Assist both parties in the selection of a mutually agreeable maintenance facility to perform the pre-purchase inspection.
Work with both parties to fairly address any discrepancies found during the inspection.
After acceptance of the plane and the final pricing, begin the closing process based on instructions to the escrow agent from all parties.
Assist the buyer with all pre-closing matters, i.e. insurance, financing, legal, pilot selection/training, hangar and fuel contracts, etc., and put the plane into service within the agreed upon time frame.
Insure that the buyer has the required instructions, documents and correct amounts sent to the escrow agent, and that the seller has sent all the required documents, lien releases and its instructions to the escrow agent.
Insure that the escrow agent files all documents with the FAA, completes international registration and disburses funds.
Deliver the aircraft and put it into service. Earn a modest 1-3% fee.
As one client put it:
“I’d rather to this myself and tried to; but not only do you know what to do…… You know what NOT to do!”