Whether you are selling your jet in order to upgrade to a larger one or for a different financial reason, there are certain steps a Seller can take to mitigate complications and time delays. From our experience, preparing yourself and your aircraft based on some or all of the below tips will help the search for a buyer and transaction process go much smoother.
1) Keep your aircraft clean. This may sound simple, but it is not uncommon for a buyer to be scheduled to view an aircraft and it is cluttered with old catering supplies or the carpet is dirty. By having your management company wash the exterior, vacuum the carpet and pick up supplies and material that are laying around the cabin will make a big difference to the first impression of a buyer.
2) Make sure you aircraft is available for viewings. When a buyer wants to come and view your aircraft, speak with your operator about keeping the aircraft available that day for them. There have been instances when we have tried to arrange viewings for clients and the aircraft is always out on charter, so the buyer quickly loses interest in that aircraft because he cannot see it. When your aircraft is harder to see, it is harder to sell.
3) Put some thought into how to clear your liens or mortgages before a transaction gets started. Your bank has an active role in your aircraft and will have their own requirements and protocol for removing the liens or mortgage you may have. Discuss with your financial institution as early as possible to build your structure for how to release these mortgages / liens in a smooth manner.
4) Determine if you aircraft is eligible to enter another country’s register. Your broker should find this information out for you. There are certain avionics and paperwork differences from registration to registration that can prohibit your jet from being registered on one or the other. You do not want to go through an expensive and intense Pre-Purchase Inspection only to discover your aircraft cannot be put on the register of the buyer’s country.
More Info: Where to Register Your Aircraft
Your aircraft broker will assist you with any of these items. Rely on their experience and ask them any questions you have.
Articles are written from real world experience by Colibri Aircraft’s individuals. If you have any questions or comments about the topic of this blog, please feel free to contact us at firstname.lastname@example.org