Pshap31 Posted February 3, 2018 Report Share Posted February 3, 2018 Hi all, I am still in the process of trying to get the M20C (22Q) to a PPI at Top Gun. Issue is Top Gun has a three week waiting period, so Mark wanted to make part of the deposit non-refundable. I agreed to make 1000 dollars of it non-refundable if we could bring a guy in to boroscope the engine prior to the PPI. Any recommendations for a solid dude in the area to accomplish this? If so could you please message me their contact info. Thanks Phil Quote Link to comment Share on other sites More sharing options...
TomR Posted February 3, 2018 Report Share Posted February 3, 2018 Not privy to the details of the deal....but....if the seller is pushing you to make a deposit non refundable due to legitimate time constraints you’d be well served to walk away from the deal. Deposits are contingent on an airplane being in good condition. Making it non refundable defeats the purpose. Seriously contemplate your next move. Good luck in your search ! 3 Quote Link to comment Share on other sites More sharing options...
gsxrpilot Posted February 3, 2018 Report Share Posted February 3, 2018 Yeah, I'd get on the list at Top Gun. In three weeks that plane will still be available. And if it's not, you won't be out $1000. Just my $0.02 1 Quote Link to comment Share on other sites More sharing options...
carusoam Posted February 4, 2018 Report Share Posted February 4, 2018 i’m Fuzzy about the non-refundable part of the equation... If it fails a PPI, you are out the money it takes to properly execute and return the plane to the proper AW condition you received it in. What is the thousand for? See if I have this right... 1) you want an MSC to do a PPI on a person's plane. 2) A good and complete PPI at an MSC may cost 2AMU. Flys in and flys back out... 3) You get the full value of the PPI for your money. 4) if it passes the PPI, the sale goes through. (As negotiated between you an the seller) 5) if it fails the PPI, The fixes are made or the sale is cancelled. (As negotiated between you and the seller) 6) There is a long line to get it to the PPI you are asking for. This is a drag on the seller selling the plane to anybody else... 7) From a buyer’s point of view... your are using 1 amu to keep somebody from selling their plane while you all wait for a spot at the MSC. 8) Does this 1amu lock out all other buyers? Even somebody offering more dough? (Another sign of a serious buyer) 9) Do you feel this plane is really the one for you, and it will pass the PPI as expected? (Signs of a serious buyer...) 10) that 1amu is often called earnest money. A sort of down payment to reserve your place in line. 11) you get flaky, that 1amu is a gift to the seller. 12) Do your Homework to avoid getting flaky... 13) share your PPI expectations with the seller. Make sure you both agree to what you have in mind. There is no norm to follow... 14) take notes and share a copy with the seller for everything you agree on... it’s amazing how long or short the details are that you can remember when stressful things happen later on... Expect there will be stress, some of the details will be minor, write them down either way... even if it is just for yourself... 15) structure the PPI so that it is complete and put back together properly at the end. Open it up and hit the expensive parts first. A PPI can be very short if the engine doesn't pass the compression test, or the logs are missing important details... 16) Ending the PPI early can be a pain for both parties... the sale and the earnest money should be riding on the AW determined at the PPI. 17) an example of being flaky... PPI finds An instrument panel bulb out... the plane is technically not airworthy for this important bulb. Buyer wants to cancel the sale and claims the bulb issue as a reason to back out of the sale. Technically the seller is right. Realistically a buyer would have the seller get the bulb fixed to complete the sale.... 18) Completing the sale... the buyer pays the MSC for the work he contracted. The MSC probably requests payment in advance because the buyer doesn't own the plane, and the MSC can't hold it. The buyer hands over the dough, minus the earnest money he already forwarded... buyer gets the keys. Seller has all the dough he asked for... 19) Somewhere in there you and the seller agreed on who pays for what related to the things that fall out of the PPI... right? 20) if you agreed that all AW issues will be fixed by the MSC, the seller contact the MSC to fix them, the seller is out the money it takes to get that done... 21) If the item that needs to be fixed is expensive the seller may have the right to cancel the sale. This could happen if a spar is found to be corroded. Nobody is going to be happy when this happens... if serious enough, a corrosion problem can cost as much as the plane’s sale price... This is a fuzzy memory of buying my O with the good folks at AAA. (This is not legal or financial advice.) I left them a chunk of change to reserve my spot in line. I was going to spend more money to travel, to PPI, and come back. I didn't want somebody else to come in with a better offer to buy the plane before I could finish... when few planes are available, there are always bigger buyers out there.... and they may not care about having a PPI done... (Ken?) Does that make sense? Best regards, -a- Quote Link to comment Share on other sites More sharing options...
DXB Posted February 4, 2018 Report Share Posted February 4, 2018 Don’t bother. A burnt valve on borescope wont kill the deal, just adjust price a bit. And you can do it yourself if you want to buy the $150 tool. Cutting the filter if at least 10 hrs since oil change, opening up wing to examine the the spar, pulling the interior to look at steel roll cage would give me more confidence in the sale. But the latter two things should be done by a place like Lasar or Top Gun, unless you can find a real Mooney expert locally, in which case they should do the whole prebuy. TomR and Gsxrpilot’s advice above is spot on. 1 Quote Link to comment Share on other sites More sharing options...
mike_elliott Posted February 4, 2018 Report Share Posted February 4, 2018 Im fuzzy who wants the non refundable deposit, the owner or Top Gun for non refundable deposit on the prebuy? Who is Mark? The owner or Mark at Rousch? Quote Link to comment Share on other sites More sharing options...
Ron McBride Posted February 5, 2018 Report Share Posted February 5, 2018 Lasar when I talked to Robert about a month ago, did not have a waiting time. Top Gun did tell me if I pushed hard, they could probably get it in earlier. Quote Link to comment Share on other sites More sharing options...
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