Exploring The Benefits Of Getting Airplane Valuation
As an operator in the aviation sector you should consider getting the correct aircraft valuation in the event that you have not done it. 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.
In case you are selling your plane, you need to hire a aircraft valuation firm in order to determine its worth. The appraisal is also needed if you are in the process of refinancing a loan. That shows how seriously you should take the role played by a valuation firm in your aviation business.
Upon finalizing the plane valuation exercise, the specialist will give a documentary report. In the document the reasons that justify the value arrived at will be given. That report acts as a sufficient proof that the buyer, seller or lender can depend on as to the real value of the plane.
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.
From the buyer’s perspective, the acquisition of an aircraft valuation is essential for a variety of reasons. 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. In most cases a seller will be asking for a price that is way above the real value.
Since interest rates can experience a drop, you may find it wise to refinance a loan that you have taken out on your plane. Prior to processing a new loan, the lender will rely on an appraisal to determine the way forward. By carrying out a valuation you will be smarter when it comes to taking a cover or when a sale transaction is happening.
It is not advisable to attempt to determine the value of your aircraft using online resources. The only sure way of knowing the true value is through an official appraisal. Several parameters are at play when determining the true value of an aircraft.
The cost consideration of the appraisal exercise will determine the valuer you will settle for. There are several aspects that will determine the charges for the valuation. Among these is your location, the model of the plane and the purpose for which you the appraisal is being done. Ensure that the valuation company you are hiring operates with integrity.