After purchasing a few of his own personal aircraft, Roger recognized that brokers were not working in the best interest of their customers with locating aircraft to suit the buyers' needs. Aircraft brokers tend to find aircraft they are most familiar with sometimes neglecting the components of matching a buyer with an appropriate aircraft.
First time aircraft buyers and aircraft owners looking to move up in type of aircraft often rely on the "traditional" brokers to locate an aircraft that best suits their needs; and assume that the broker will be working in the best interest of the buyer. This is not always true, most aircraft brokers will first try to sell the buyer an aircraft they are currently listing, or they will only recommend the aircraft types they know best in order to avoid having to work more hours researching aircraft their least familiar with. MultiCorp Aircraft Sales will not only conduct a feasibility study to help determine what type of aircraft best suits a buyers needs, they will also complete extensive research into the aircraft market the buyer is most interested in ensuring the buyer is, in fact, matched with the most appropriate aircraft. The feasibility study will take into account such factors as range, speed, payload carrying capacity, appearance, and most importantly price. MultiCorp Aircraft Sales will compile their research and present the buyer with three aircraft types that will best suit the buyers' needs.
In addition to aircraft selection, the technical components of an aircraft, the legal issues pertaining to aircraft ownership, and the logistics of an aircraft resale must be considered. Aircraft buyers who do not consult with a professional aircraft broker often will neglect this consideration for simply not knowing the complexities and legalities of transferring an aircraft to a new owner. Unfortunately serious mistakes, more often than not, are the result of a buyer purchasing an aircraft without representation from a broker.
The following are two recent scenarios where a buyer purchased an aircraft without consulting or seeking representation from an aircraft broker.
Scenario #1
Recently we located an aircraft for a Buyer, upon completing the title search we found out that the current owner of the aircraft was not the owner according to the FAA. When the current owner purchased the aircraft, he did not correctly complete the FAA paperwork. According to the FAA, the previous owner was still the legal owner. MultiCorp Aircraft Sales also found an existing lien on the aircraft from the previous owner. The aircraft seller, after working out the issues with the FAA, had to pay another $20,000 dollars to pay off the former lien. In the end, our buyer was more than appreciative of our thorough research and became very happy customer. The seller also hired MultiCorp Aircraft Sales to locate his next aircraft knowing full-well he would avoid making the same mistake twice.
Scenario #2
A buyer was just about to purchase a used aircraft for what seemed to be a phenomenal deal. He contacted us to complete the transaction. Upon hearing the terms of the deal, the old phrase "if it is too good to be true..." came to mind. The buyer had already completed the pre-purchase inspection, however used the mechanic who had worked on the aircraft for the last 20 years. MultiCorp Aircraft Sales scheduled a second pre-purchase inspection of the aircraft, using a different mechanic. Thirty-thousand dollars worth of corrosion was found on the wing spar. The listing price of the aircraft was only $60,000 and was being purchased for $45,000. The buyer almost made major mistake of letting the same mechanic who had been working on the aircraft for the last 20 years complete the pre-purchase inspection. Fortunately in this case, our customer contacted us in time and was able to back out of the deal without making a major financial mistake.
