Why You Need an Aircraft Appraisal for Your Plane Valuation
You would need to consider a plane valuation especially if you have not thought about it. Among the reason you may need a plane valuation include: when refinancing a loan, choosing an insurance policy for your aircraft or even determining the value of the plane before selling the plane in question. It would be essential for one to make sure that he or she goes for a third party opinion about the plane in question. It would be critical for one to know some of the basics of plane valuation. Even as this article answers your question, it will also highlight some of the reasons why you need to ensure a plane valuation for your aircraft.
A plane appraiser is a third party professional who tends to evaluate your aircraft or any other aircraft you have an interest in to know its value. Plane valuation also tends to involve a written report which tends to have all the checklists well stated in the valuation. Each aspect of the plane valuation tend to have reasons and ways of how the appraisal arrived at the value in question. The report can then be used as valid proof of value to the seller, buyer, or lender. While the aircraft is commonly referred to an opinion, it is a professional opinion valid when one is acquiring insurance cover as well as refinancing. One would need to have a professional and unbiased opinion from a third party without any interest in the plane. While anyone may assume the price of your aircraft, aircraft valuation tends to involve an official report which tends to be widely accepted in the industry especially when it is from a known aircraft value reference company. One would need to know some of the instances he or she may be forced to ensure an aircraft valuation such as when buys a new jet and needs an insurance policy for it. In most cases, the buying price of the aircraft is not always the actual value of an aircraft especially in instances where the aircraft is bought without valuation.
You may also need a plane valuation in a case where you need to borrow or lend on your aircraft. The lender would need to know the actual value of your aircraft before processing your loan. Whether you need to sell the aircraft in question or need a new insurance policy, you would need to make sure that you have the opinion of a good aircraft appraiser. The aircraft valuation tend to involve factors such as engine hours, damages, interior wear as well as the age of the airframe. It would be essential for one to make sure that he or she does an aircraft valuation with a good VREF company to get the most accurate valuation.