March 19, 2009: N1541W is a 1972 A36 Beech Bonanza currently at KSGR, SugerLand Texas. Gobogo LLC is looking at purchasing this aircraft. The interior is being re-done, no photos of that yet. Appraisal happens mid-March, pre-buy inspection early April, Sue is going to Houston to watch the pre-buy.
April 26-29, 2009: Appraisal and pre-buy inspection trip were postponed to end of April to allow the seller to complete pending maintenance items like removing and refurbing the fuel cells which were leaking inside the wings. Interior was completed and appraisal done on 24 April 2009. I went to Houston on 26th and flew the plane, flies nice, and Apr 27-28 we did a pre-buy inspection with mechanic Jarrell Allen of Premier Aircraft Services at KAXH. I cannot recommend Jarrell highly enough - he is knowledgeable, meticulous, and his assistant Chris is a hoot to work with :-) They found a lot of minor issues with the aircraft but nothing huge, and corrosion-wise the plane has some exterior spots but nothing on the insides of the wings or fuselage that we found.
So Tuesday morning when the pre-buy was nearly complete, and both the seller and I were thinking I might be able to fly the plane home on Wednesday, we started completion of the paperwork. Insurance - done, plane is insured as of Wednesday (Falcon was VERY easy to work with). My bank to wire transfer the rest of my 1/3 of the price - done. Escrow - all happy (AIC was VERY easy to work with). Big bank for the loan of the other 2/3 of the price - oh man - they want a WEEK to close.
Sigh. So I flew back home commercial, spent a while signing and notarizing and getting witnesses to my signatures and FedEx'ing... and now waiting to hear back.
I should have realized the big banks would be more picky now about loans after the economy crash from bad house loans... but just didn't think the issues through to anticipate how long it would take. My bad.
May 1, 2009: Got a call from the bank, another person took over my account and suddenly everything is moving at the speed of light! Loan is approved and money should go into escrow today! So next tentative plan is to fly down commercial on Monday and fly the plane home Tuesday. Fingers and toes crossed that all goes well!
May 2, 2009: Well no money from the bank is in escrow yet, and, escrow folks say the bank will have to sign a release before the escrow company can release funds to the seller. So we're going to wait until that happens before I head down to take possession. Hopefully everything will go through Monday and I can head down Tuesday, return Wednesday...
Well the bank finally came through with the loan, Bob and I headed to Houston, had fun at the Houston Space Center, and brought the plane home. Much fun!
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