Record appraisal!! 13 weeks!

[N747JB]

I approached my local bank when I bought my Conquest about financing part of the purchase. I gave them a couple weeks notice, the loan officer is an old high school friend and the president is a good customer, so it was all pretty much, "How much do you need, how long do you want to finance it?" Since I wasn't sure if I'd have my 421 closed before I closed on the Conquest, they offered a 90 interest only loan, and then we could close on permanent financing in July.
Well, they decided the needed an appraisal in the file to keep the bank regulators happy, no problem. They had a guy that had done a couple other airplane appraisals for them.
The appraiser contacted me in late June, I think it was around the 25-26, I gathered the logbooks and had them available for him to view. The plan was to close the permanent financing July 5. I meet him at the hangar at 9:00 am, he called me that night as he was leaving, around 9:30pm. He proceeded to tell me every conceivable flaw with the airplane, from paint chips to how I should clean the leather! I wish I could remember all the things he said, at first it was funny, then it became like a bad movie. I think he wanted to rebuild the airplane from the ground up. I kept telling him, I just need a reasonable number, I'm not shooting for the moon! He called me at least 6-8 times, he called my mechanic so much, he quit answering his calls. He questioned everything about the plane, and every time he found any type of information, he called us!
Sometimes I think he just wanted to show how smart he was, or actually how silly he was!
Anyway, 13 weeks later we have an appraisal!!
I'm glad I wasn't waiting to buy or sell pending this goof's appraisal!!
I'm not going to name him on here, but needless to say, he won't be doing any future work for me or the bank!

 

[us AAirways]

Aw come on...isn't that how car trade ins are done??

 

[N747JB]

Aw come on...isn't that how car trade ins are done??

Yeah, we usually have 10-20 minutes to drive it, check three different books, check the history(carfax, auto check) check for paint and body work, figure what it's going to cost to recondition and what we think it will sell for.

 

[us AAirways]

Quick question if you don't mind...

I had around $4000 of hail damage which I had fixed at a dealer's body shop, would that effect the resale value even though it has been fixed?

 

[N747JB]

Quick question if you don't mind...

I had around $4000 of hail damage which I had fixed at a dealer's body shop, would that effect the resale value even though it has been fixed?

Not really a big deal for most cars, if it's an exotic sports car it might be a different story, but repaired hail damage is usually no biggie. Most hail damage is fixed with PDR, paintless dent removal, and those guys are usually good at putting them back like new, IF your required filling and painting it could affect the value a little, but to me hail isn't a big deal.