How much should I lend for that aircraft? Know the current fair market value before you make the loan. A Certified Aircraft Appraisal from Leading Edge meets all the asset reporting requirements as stipulated by the Federal Deposit Insurance Corporation (FDIC) and Resolution Trust Corporation (RTC). The Certified Appraisal will substantiate the value of an aircraft in the loan portfolio, or foreclosure proceedings, by providing independent substantiation of the aircraft's collateral value.
The appraiser will begin with a thorough examination of both the exterior and interior of the aircraft. Special attention is given to condition of the airframe, paint, engines, flight controls, aircraft systems, electronics, instrumentation, interior condition, aftermarket accessories and modifications. A complete inventory will be prepared for inclusion in the appraisal report.
A comprehensive review of all log books and documentation will then be performed to determine Service Bulletin status, Airworthiness Directive status, and answers to key questions, including the following few:
- Have annual inspections been completed in a timely manner?
- Was the aircraft maintained with emphasis on preventive maintenance?
- Were oil changes consistent and on an oil analysis program?
- What corrosion prevention measures have been taken?
- Is there any Damage History?
- Was the damage repaired properly and given a detailed sign-off?
- Are all Major Repair and Alteration forms included?
- Are there any missing log books or pages?
The inspection process will take from 3 hours for a small single engine plane, to upwards of 24 hours for a large business jet and vary mostly due to condition of maintenance records.
The appraiser will then return to his office and perform an in-depth analysis of all data, using leading edge computerized technology developed by the NAAA. The final result is a Certified Aircraft Appraisal that is an accurate, unbiased, itemized inventory and multi-page document that will withstand the toughest scrutiny of any Financial, Governmental, or Courtroom audit.
The appraisal is usually completed within 2 business days after the on-site evaluation. A copy is faxed immediately to the client and a presentation quality original is mailed within 3 business days.
Why can't I just use a "blue book" or another published price guide?
How much will it cost? View sample appraisal.