the information below explains the paperwork steps necessary in selling an aircraft. all of this information used as a checklist is the secret to a successful sale. aopa recommends having the purchaser arrange for a pre-purchase inspection of the aircraft.
it can be as little as an hour or two of a mechanic’s time all the way to a full annual inspection signed off by a mechanic with inspection authorization. aopa provides additional information related to aircraft ownership online. there have been countless cases where individuals selling an aircraft were unaware of certain important procedures and subsequently got tied up in a legal hairball. the federal regulations that apply to selling an aircraft are outlined in this subject report, as well as additional helpful information such as selling to a buyer who is a foreign national, and n- number removal techniques.
think of the sales/purchase agreement as a good preflight inspection, checklist, and flight plan. creating a sales/purchase agreement early on gives you a good idea of how the purchase process and ultimate delivery will go with a particular seller. a seller who is unable to compromise in the first stages of the purchase will affect how smoothly things will go from there. for example, don’t require that the seller pay to have the purchase airplane flown to your mechanic or shop. when you identify an airplane you want to buy, you as the potential buyer create the sales/purchase agreement and send a copy to the seller. for the elements that belong in a good sales/purchase agreement, refer to a sample document prepared by aopa (sample purchase/sales agreement). this probably goes without saying, but as in any negotiation, it’s always best to first discuss and work out the conditions, come to a consensus, then put it in writing.
a mutually agreeable deposit needs to then be put in place to make the agreement binding. again, if the buyer is problematic in the beginning, it’s only going to get worse. the buying process can quickly go from “fun” to a grind. after you complete your pre-buy inspection, you will provide a list of the issues with the airplane and the second round of negotiations for final delivery will begin. that’s when you can adjust the delivery date, price, and who is going to pay to fix the issues identified in the pre-buy inspection. and when it comes time for financing, you have a great resource with aopa aviation finance. if you need a dependable source of financing with people who are on your side, just call 800.62.plane (75263) or click here to request a quote. have a specific aviation finance question you would like to see in future articles?
caution: this document is provided as a general guide to preparing an aircraft. purchase/sales agreement. it is not designed to address every issue or. forms for buying and selling aircraft. aircraft bill of sale (ac form 8050-2) sample aircraft purchase/sales agreement aircraft registration (ac form sample aircraft purchase/sales agreement. an airworthiness certificate usually is transferred with an airplane when it is sold, but the certificate alone, aircraft purchase agreement pdf, aircraft purchase agreement pdf, aircraft purchase agreement fillable, aircraft purchase agreement word, aircraft purchase letter of intent template.
the seller completes the “bill of sale,” which is faa form 8050-2, available for download on faa’s web site, or from aopa (800/872-2672), most faa fsdo offices, when you identify an airplane you want to buy, you as the potential buyer create the sales/purchase agreement and send a copy to the seller. driven by a seller’s market, some aircraft buyers might be tempted to save time or money by skipping a written purchase/sale agreement,, aircraft purchase checklist, aircraft purchase agreement sec, aircraft purchase agreement fly-by-night, aircraft purchase process, aircraft purchase deposit, how to fill out aircraft bill of sale, buying a new airplane, pre purchase agreement, faa bill of sale example, aircraft kit bill of sale.
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