Why You Should Consider Having The Right Aircraft Valuation
If you are a stakeholder in the aviation industry, it is about time that you went for a proper aircraft valuation, in case you have not done so. Company that is providing an insurance policy for your airplane will insist on receiving independent appraisal on your aircraft before the cover can be issued.
An aircraft valuation company will come hand during the time you are contemplating on selling your plane so that its worth can be known. The appraisal is also needed if you are in the process of refinancing a loan. The importance of the valuation company cannot therefore be ignored.
Upon finalizing the plane valuation exercise, the specialist will give a documentary report. Supporting reasons as to why a particular was arrived at must be provided in the document. A seller, buyer or lender can rely on the document as proof of the value of the airplane.
When choosing the company to undertake the valuation, you must ensure that they are licensed to carry out the process. The appraisal that will be provided to you is not only accepted in the industry but it is both independent and unbiased.
Several reasons will motivate a plane buyer to seek the services of aircraft valuation firm. Among these is when he is planning to arrange an insurance cover. If you are planning to add to your current fleet, it is necessary to obtain an appraisal so that you are in a better position when making the offer. Ordinarily a seller will quote a price that is above the value of the plane.
If you have an existing loan on your plane, it is prudent to refinance it to factor in the issue of fluctuating interest rates. Prior to processing a new loan, the lender will rely on an appraisal to determine the way forward. You can rely on a valuation report to make smart decision when it comes to arranging insurance covers and when transacting a sale.
It is not advisable to attempt to determine the value of your aircraft using online resources. Only through an official appraisal can you be sure that the value arrived at is accurate. It is important to state that the value of a plane is dependent on many factors.
When choosing the aircraft valuation company, it is important to consider the cost involved. There are several aspects that will determine the charges for the valuation. These factors will include the type of the plane, the reason why the appraisal is being done and your location. Ensure that the valuation company you are hiring operates with integrity.