Having agreed to buy N6PL subject to inspection, the next morning owner Ralph Mailloux flew the aircraft to Torrance airport which is about 6 NM south of its home base and the mechanic started the inspection. By the time I arrived at 12:00 noon he was able to tell me that so far all looked good. Engine compressions were good, the aircraft was fitted with the expensive fine wire spark plugs and all the hoses had been upgraded to heavy duty. The left main wheel needed a shimmy, which I had noted in the log books had been done previously. He also said that one panel on the wing had been painted. I couldn't see it, and even when he showed me which one, I couldn't see the difference in paint colour although he insisted it was slightly different. Obviously the bird strike.
Two days later we signed the very basic contract and arranged for an Escrow company to check ownership and any liens on the aircraft. I would deposit the funds with the Escrow company and on completion of legal checks, that company would simultaneously arrange transfer of the funds to the owner and transfer of ownership to me.
The process of buying and selling aircraft is well organised and professionally executed, which is probably due to the large number of sales which enables people to build businesses around the legal side of selling of aircraft. We appear to be much more basic.
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