Hey everyone,
First post, and need some advice. I've never bought a plane before, and am bouncing between a Mooney M20J and K. I've read up and realized for the distances I'll be flying the K may be the best option. But my main question is if you all feel like it'd be a good decision to hire a broker or, if not, how to go about the whole thing.
Some points of concern:
1. I am in the real estate business so I can look up and see what properties are selling for in an area, and how to come to a fair price based on those numbers, but how do you arrive at what would be considered a fair price on a plane? I assume there isn't anything like MLS for airplanes. I see some, based on avionics and engine time that are way overpriced compared to planes with lower engine times and much better avionics.
2. If an inspection is done how do you go about deciding who pays for what if there are some serious issues found (air worthiness ones). How do you go about finding someone in an area that you know is reputable to do the inspection?
3. Who picks the title company?
I am feeling a little overwhelmed, out of my element and not sure how to go about the whole thing. This is why I had been considering hiring a broker but figured there are a lot of folks on here with a ton of experience that may have some good insight.
Really appreciate the help!