A cautionary tale on aircraft sales contracts

wilkersk said:
Just can't believe someone would buy/sell something that valuable and complex without escrow/title services. And, to let the buyer just dictate the sales agreement is asking for it.
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Who says he didn’t use an escrow service for the sale?

Escrow/Title Service does not automatically include a sales agreement. All of the escrow/title services I have been involved with had nothing to do with a purchase agreement. That (if involved) was either provided by the broker or seller. In one case, I provided the purchase agreement as the buyer since the seller did not have one.


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steingar said:
Never signed a contract and I don't think I ever will. I get money, they get airplane and they can send the form to the FAA. If somebody needs a lawyer to buy an airplane they can buy one from someone else.
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You probably also don’t deal in $300-400k+ airplanes.


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Kind of stupid since there are numerous good purchase agreements out there to start with. It at least gives you an idea as to the things that the agreement should cover.

You can be lazy with legal stuff and get away with it for a long time. Most of the successful folks I know avoid lawyers whenever possible. Smart? Probably not. But they didn’t get where they were by playing every decision conservatively. Yeah, they get bit eventually, but usually they’re the folks that can absorb a loss (a calculated risk). That doesn’t mean they’re not going to rant about it afterwords :)

My $5,000 Flybaby sale definitely included a good purchase agreement.

Based on my reading of purchase agreements it almost seems as though selling an experimental actually equates to less risk. The new buyer is the aircraft manufacturer after all.
 
This seems to be overly conservative. No jury I can imagine would find against him.
 
Methinks there's more to this than meets the eye. Also from the website he looks like a professional whiner...
 
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