There must be something about me...

[mccdeuce]

So I came to terms wth the owner of the airplane. 

 

We BOTH signed a purchase agreement. Made plans for prebuy - airplane wasn't airworthy. They ordered the part to fix. Waiting for parts.

next thing I know they are claiming to have sold the plane to someone else from Alaska who doesn't want a prebuy....

[N5756v]

Wow ,


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[DonMuncy]

You may be lucky

[mooniac15u]

1 hour ago, mccdeuce said:

So I came to terms wth the owner of the airplane. 

 

We BOTH signed a purchase agreement. Made plans for prebuy - airplane wasn't airworthy. They ordered the part to fix. Waiting for parts.

next thing I know they are claiming to have sold the plane to someone else from Alaska who doesn't want a prebuy....

Maybe you should remind them that failing to honor your purchase agreement may be breach of contract. 

[KLRDMD]

19 minutes ago, mooniac15u said:

Maybe you should remind them that failing to honor your purchase agreement may be breach of contract. 

There are always "outs" in purchase agreements.

"Purchaser further agrees that if for any reason Purchaser has not accepted delivery of the aircraft within ten (10) days from the Delivery Date, Seller shall have the right to sell such aircraft in such manner as it may deem advisable, free and clear of any claim for damages of any kind or character whatsoever which Purchaser, or any other person claiming under or through Purchaser, may have arising out of such sale. In addition, it is agreed that Seller may retain all deposits paid in connection with the purchase price and any trade-in aircraft as liquidated damages by reason of Purchaser's failure to accept delivery, unless otherwise specified on page one of this agreement."

[kpaul]

10 minutes ago, KLRDMD said:

There are always "outs" in purchase agreements.

That would depend on how the PA was written.

[KLRDMD]

2 hours ago, mccdeuce said:

So I came to terms wth the owner of the airplane. We BOTH signed a purchase agreement. Made plans for prebuy - airplane wasn't airworthy. They ordered the part to fix. Waiting for parts. next thing I know they are claiming to have sold the plane to someone else from Alaska who doesn't want a prebuy....

How exactly does your purchase agreement read ? There are always "outs" on both sides. What does your purchase agreement say in this area ?

[carusoam]

Sounds like he is telling you to buy it without a pre-purchase inspection... 

What is somebody going to do with an unAW Mooney in Alaska?

That's why you have the defense mechanism of PA and PPI.

better it failed prior to the PPI than after...

Some buyers and sellers are just not going to be fit to do business with...

There are too many reasons this situation is falling apart.  1) The seller.  2) The seller. 3) the seller.

Take it as a learning experience.  Go find the Mooney seller that wants your money.  If you walk from this situation, you will still see that plane for sale for a while.  People in Alaska don't have a use for planes that are un-AW.  Unless, they are mechanics looking for a project.

PP thoughts. I have only bought two planes.

Best regards,

-a-

 

[Bravoman]

Nothing good ever comes from bad Karma, especially when you are buying an expensive used piece of equipment. I would move on. Lots of good planes and honorable folks to deal with. In fact, the two usually go hand in hand.

[Yetti]

the start of something fishy and fishy tails.  Move to the next and don't look back.

[mooniac15u]

10 hours ago, KLRDMD said:There are always "outs" in purchase agreements.

"Purchaser further agrees that if for any reason Purchaser has not accepted delivery of the aircraft within ten (10) days from the Delivery Date, Seller shall have the right to sell such aircraft in such manner as it may deem advisable, free and clear of any claim for damages of any kind or character whatsoever which Purchaser, or any other person claiming under or through Purchaser, may have arising out of such sale. In addition, it is agreed that Seller may retain all deposits paid in connection with the purchase price and any trade-in aircraft as liquidated damages by reason of Purchaser's failure to accept delivery, unless otherwise specified on page one of this agreement."

Many do not have a generalized clause like what you wrote above. For example the purchase agreement suggested by AOPA has no such clause. 

https://www.aopa.org/go-fly/aircraft-and-ownership/buying-an-aircraft/forms-for-buying-and-selling-aircraft/sample-purchase-sales-agreement

There is a provision for the seller to decline to repair items found on the PPI but they would then be obligated to reimburse the buyer for the cost of the inspection.

[Ftlausa]

Take it from a litigator - walk away, its rarely worth fighting over. 

[peevee]

46 minutes ago, Yetti said:

the start of something fishy and fishy tails.  Move to the next and don't look back.

X2

Sounds like he did you a favor 

[mccdeuce]

Agreed. Litigation is not the way to go. 

Most of my dealings have been with the pilot - corporate aircraft and he is the one who told me this info so going to try just one polite email/phone call to the actual owner. 

[ALP]

Wasn't meant to be.

[mooniac15u]

Was this a 1965 M20E?

 

[pinerunner]

Its still a buyers market isn't it. Time to move on.

[Seth]

Same thing happened to me in 2007 when I put a deposit on an M20E.  He sold it to someone else for cash instead, and at first told me he would not refund my deposit by phone when I asked about the status of the prebuy findings/repairs.  After a stern letter, I received my deposit.

It was a blessing in disguise as I ended up with my former M20F which was a great airplane.  

I hope you did not have too much money invested in this bird.

-Seth

[mccdeuce]

1 hour ago, mooniac15u said:

Was this a 1965 M20E?

 

Yup absolutely is the airplane.   Shockingly the owner still hasn't responded to emails or phone calls. He knows what he did. 

[DXB]

It's good you bring this stuff to light. Maybe the gentleman in Alaska will get tipped off that something looks a little sketch here and dig deeper. I wonder what else your prebuy would have discovered that the owner might already know about. When my C went into Joey Cole's shop for prebuy, first thing he showed me was another C that came in just before mine for prebuy.  He found extensive tubular frame corrosion and some spar corrosion-  it would never fly again.  This also got the small dealer who had my plane quaking in his boots.  He had just picked it up in a trade, perhaps without looking it over  that closely, and he clearly didn't know much about Mooneys.   I found his visible relief after the wing and interior panels came off pretty amusing.

[FloridaMan]

You may be lucky. I was booking a flight to go look at an M20F. Before I booked it, the owner called me and told me he'd sold it and the guy had a deposit down on it. I call Willmar air service who I'd arranged to do the PPI on the airplane with, told them it wasn't happening, expressed disappointment and asked if they knew of anyone looking to sell that hadn't hit the market yet. 

After I purchased the airplane that I ended up with, the owner who was selling the other F called me and said that the sale had fallen through due to financing and asked if I was still interested. The other airplane was nice, but not as nice as what I ended up with because the plane that I'd initially wanted failed to come through. 

I ended up with this:

Edited September 30, 2016 by Antares