How to Buy an Aircraft :: Choosing the Right Make & Model on Aircraft Online

Welcome to Aircraftonline, Australia’s No.1 website for Buying & Selling Aircraft Putting a Deposit Down on the Aircraft - Step 5
After you have reviewed all available information about the aircraft and you feel fairly comfortable about it, it’s probably time to put down a deposit to remove the aircraft from the market. This will secure the aircraft while you make arrangements for a pre-purchase inspection.
Why put down a deposit? : This tells the seller that you are serious about the aircraft. You are saying that ‘yes’, I have the money to buy the aircraft [or helicopter or whatever type the aircraft is is] and if it is everything that it is represented to be, I will buy it. This gives you first rights to the aircraft, meaning that it should not be sold out from under you. A pre-purchase/deposit agreement should be signed by both parties, outlining the terms of the sale if the sale proceeds.
Before sending your deposit money, you should use a third-party escrow company, usually a solicitor agreeable to both the buyer and seller; in some cases an aircraft dealer or broker will have a trust account for the deposit. Make sure the deposit goes into a trust account because, otherwise if the deposit holder becomes insolvent the deposit could be lost, even though it was never there’s – this happens all the time.
Make sure you understand and agree to the terms of the sale, and be sure your deposit is refundable if the pre-purchase inspection uncovers something about the aircraft that is material to your decision to purchase the aircraft and you don’t want to proceed with the sale for that reason.
It is common for the seller to retain a small portion of the deposit, if there were expenses involved, but this should be clearly outlined beforehand – all the deposit should be returned if the seller has misrepresented something, either accidently or on purpose it doesn’t matter, a misrepresentation is a misrepresentation.
We recommend that you use an escrow company or a solicitor who has experience in deposit escrow to handle the transaction, read on to learn more about how escrow services can help you.
Escrow Services: If you find an aircraft you like, but you are not comfortable sending money directly to the seller, you can enlist the services of an Escrow Company or Solicitor providing Escrow Services. For a fee, an escrow service will hold the money and the aircraft documents until both parties give authorisation for release. Then the money & documents are disbursed to the appropriate parties. If you’re having difficulty finding a suitable escrow service please contact us to assist by clicking here
Civil Aviation Insurance is Australia’s leading aviation insurance broker and can help you determine what insurance you will need and the costs of it – that will help you determine if the type of aircraft you’re planning to buy is affordable from an insurance costing. Click here to go to the Civil Aviation Insurance website
As you can see there are a lot of factors involved in choosing the right type of plane. For this reason many aircraft buyers choose to enlist the help of a qualified aircraft dealer or broker who might be able to help you save you time, money and in some cases a lot of headaches. To find an Aircraft Dealer -/- Broker who might be able to help you, click here
Aircraftonline offers the aviation community the most simple and effective method of displaying aircraft and accessories for sale online. Whether you are a private seller or an aircraft dealer, Aircraftonline will help to advertise your aircraft to buyers around the world with particular emphasis on the Australian New Zealand & Asia Pacific region;
Why is Aircraftonline a free site:- The Aircraftonline site is sponsored by Civil Aviation Insurance [Australia] and Civil Aviation Insurance [New Zealand] both of which are part of the Rural & General Insurance Broking Group of companies and is used to advertise Civil Aviation's insurance products. All we ask in return is that when you are next considering your aviation insurance requirements and/or you aircraft finance needs that you also consider using the services of Civil Aviation Insurance. To find out more about Aircraft Online click here
Get Tips On How To Sell Your Aircraft After helping hundreds of aircraft owners sell their aircraft, helicopters and aviation accessories online, we’re been able to establish some helpful tips on how best to advertise your aircraft for sale; click here to get tips on how to sell your aircraft.
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