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I appreciate the rational equations on figuring out the actual value and making an offer based on reality. We are test flying the airplane tomorrow and if all goes well then I have a figure in mind that will be my number. Remembering the PPI went well with compression over 74 on all cylinders...

Thank you for all your input and advice, we are still in negotiation and believe the seller is willing to work with us to rectify the matter. The seller actually did not know the log was missing. He bought the plane while trusting what advice he was getting. The current owner is not a pilot but...

I am currently in the process of a PPI on a 76' Lance and it came up missing an engine log book from the overhauled date in 96' until 05'. It has all other logs AF/E/P since new. Since I agreed to a purchase price based on being told all logs were present and ADs were met, and finding this...