Hi Everyone,
New here, I grew up flying my father's M20K as a child, found an M20J locally but aircraft has been abandoned in a hanger since the last annual in 2013. Interior is falling apart, spinning the prop by hand shows some life of compression. But engine is sitting around 1600-1700 SMOH. Airframe has quite a few corrosion blisters and flaking paint. No smell of fuel in cabin, but after 13 years may be none left to smell.
Found owners contact and spoke with him and will be meeting this week. I am more than comfortable with a big project, and expect to just go Factory Overhauled unit if I will be flying with my family going foward. The list of parts needed just at a glance seems very costly. Avionics are aged, pucks need replacement, interior needs complete refurbish, paint and skin needs to be addressed at a minimum. Hoses and rubbers need replacing, brakes are seized, etc. I feel like if he were to sell it at a reasonable rate he'd have to invest a few bucks to get it airworthy at the very least.
My biggest question is what is a fair acceptable offer for something that has been sitting for so long? As to not over pay and/or offend the owner either.
*Just an update for anyone curious, owner and I are on 2 different planets, which was to be expected, sentimental value is an X factor just as much as corrosion. I don't see this one flying again anytime soon, after much thought I am not 100% sure a Mooney would've been a good fit for my mission with an ever expanding family, may look into something a bit larger and slower like a Cherokee 6 or Saratoga that maybe more practical in the long run. Thank to all that weighed in!*
