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We believe that developing a lifelong relationship with each of our clients is paramount to our success. Our team will work diligently to handle every detail of your aircraft purchase. From the initial needs assessment to serving as a trusted advisor after the acquisition, our team never stops working for you!
Our different levels of service allow us to be as involved in the acquisition process as you’d like us to be.
Our initial meeting is about building a foundation for our relationship. We want you to understand our purpose and process, but most importantly, we want to get to know you!
To get started, we’ll need to establish what you’re looking for when it comes to budget, market, and pedigree. This doesn’t mean it won’t change; we can be flexible! This just allows us to find a starting place.
The lifeblood of our operation is finding off-market aircraft. Listing sites are filled with aircraft that are overpriced, have issues, or are contingent by the time you lay your eyes on them. We have the unique ability and resources to find off-market aircraft that you wouldn’t encounter in the public market.
We monitor all on-market aircraft and present only those aircraft that meet our criteria, are available, and may be purchased at a price that we consider an excellent value.
Once we’ve spoken and decided on the parameters for the aircraft search, we’ll set up a password-protected client portal. It will be your one-stop shop to access all of the information the team gathers for you!
To move quickly, we have to know the market. Conventional knowledge isn’t good enough. Our team updates our research for each new acquisition project by contacting the agents of comparable aircraft that have sold in the last six months and then placing those sold comps on your portal.
Armed with good information, we use our magic box to triangulate values and determine what you should pay for your next airplane.
The Letter of Intent (LOI) is a simple document that we use to negotiate the purchase of an aircraft. The idea is that the purchaser shows their “intent” to buy the aircraft. It’s a minor detail, but an expression of intent is better than an offer and much better than a verbal offer with no commitment.
The Letter of Intent is backed up by a refundable deposit being placed in escrow and should always be signed by the purchaser.
The Letter of Intent is a critical step in negotiating and defining the terms of a great deal!
It has been said that good fences make for good neighbors. In our world, good agreements make for good aircraft purchases. If you look at the anatomy of a failed aircraft purchase, the most common cause is miscommunication. It’s important to reach an agreement and terms that clearly outline the responsibility of both the buyer and seller and memorialize that agreement in a written document.
An Aircraft Purchase Agreement (APA) can be as brief as a few pages, but our typical APA is fourteen pages.
Our contract coordinator will be happy to handle the details of the purchase agreement for you at no additional cost, but we do strongly recommend that all of our clients hire an aviation attorney to prepare the aircraft purchase agreement. The reason is simple: if a disagreement does arise, you’d prefer to have the person who created the agreement defend it. While we are great at buying airplanes, we are not attorneys!
Once we have negotiated on an aircraft, it’s time for the visual inspection. JetACQ flies out to make sure the aircraft meets the specifications presented.
We complete a thorough visual inspection and photograph the visible parts of the aircraft. You can expect approximately 150 detailed photos of the aircraft showing the actual condition of both the interior and the exterior.
The aircraft’s airframe and engine logbooks are digitally scanned (up to ten years) and inspected for physical appearance, maintenance history, continuity, and any indication of hidden damage repairs or tampering with the logbooks.
A Pre-Purchase Test Flight should be completed as a part of every acquisition. The test flight is an invaluable tool in determining the flight characteristics of the aircraft, as well as verifying that the aircraft meets the manufacturer’s performance specifications, adjusted for age, wear, and conditions.
Some systems can only be tested in-flight and should never be done with passengers onboard. For this reason, it’s JetACQ policy that test flights be conducted by qualified pilots, and that the crew and a JetACQ observer should be the only people on board. A demonstration flight can be conducted separately if desired.
One of, if not the, most important steps in purchasing a turbine aircraft is to have a qualified engine overhaul facility do an internal inspection with a tool called a borescope. The borescope is a camera on the end of a small tube that is inserted into the engine to inspect the (very expensive) internal components.
The cost of the Borescope Inspection is the responsibility of the client under the Full Acquisition terms, but JetACQ will schedule and manage the event. A typical borescope costs between $750–$2000 per engine depending on several factors.
This step is sometimes eliminated because it is prohibited by certain engine programs. Regardless, we’ll still complete an FOD Inspection and Five Point Engine Runs.
The next step in our process is the mechanical inspection of the aircraft. We refer to it as the Pre-Purchase Survey or Inspection.
We only use premier maintenance facilities that specialize in the type of aircraft we are purchasing. The maintenance facility will vary depending on the type of aircraft and physical location of the aircraft / seller. It may be the factory service center or a 145 repair station that does the inspection, but you can rest easy knowing that Jet Acquisitions is handling the details and managing the aircraft through the maintenance event.
The cost of the Pre-Purchase Inspection is the responsibility of the buyer, and the seller is typically responsible for the expense of correcting the discrepancies discovered that would render the aircraft unairworthy.
Once the test pilots check off on a plane, we can have some fun and take her for a spin.
Demo flights can be around the pattern or across the country. Just let us know what you’d like to do! The client viewing and demo is optional. Many of our clients elect to let us make the final decision.
The closing of an aircraft is generally the most anticipated step in the acquisition process. It’s when the aircraft legally becomes yours. It’s a complicated process with many moving parts. We’ve developed detailed procedures and checklists to obtain the documents, approvals, releases, and authorizations needed to ensure that closing goes smoothly.
We work with our preferred title company to eliminate the stress that comes from realizing that something simple but necessary was overlooked.
They say all good things must come to an end. That’s how we feel when we deliver an airplane. We’ve spent the last few months talking weekly (sometimes daily) with you and now you’re about to fly away in your new airplane.
But, unlike a broker or listing agent, we don’t disappear once you close on your aircraft. At JetACQ, we believe in clients for life. We’ll be here to help you in any way that we can after the acquisition is done and you have your aircraft. We are more than a representative or consultant, we’re your friend in the business!
We can send a professional photographer to photograph your new aircraft and your family with the aircraft. What makes for a better family photo than a jet in the background? It’s a big moment and should be remembered!