In this 1-minute video, Guardian Jet’s Matt Walter explains the details behind the aircraft deal process. If you’re looking to purchase or sell a business jet, this is a brief overview.
Hi everyone. In this short video, we’re going to talk about the time it takes to get a deal done. It’s a very common question; we field it all the time.
The short answer is that it takes about 45 to 60 days to get a deal done.
The long answer is after you’ve selected an airplane, it takes about a week to negotiate the LOI (letter of intent) with the price and basic terms.
The LOI typically defines how many days you have to execute the sales agreement—about 10 to 14. So you add two weeks for the sales agreement negotiation onto the one week of the LOI, and you’re into the deal for three weeks.
After the sales agreement is executed, you move the plane to pre-buy. That takes a couple of days. You have the pre-buy input briefing and then the pre-buy begins.
The pre-buy will then take another two to four-weeks. This is broken up into the examination portion and the correction of the discrepancies. The examination will take about two weeks, after which the inspection facility will issue an inspection report, defining what needs to be done to the airplane to return it to service.
At that point, the buyer will have the ability to accept or reject the airplane. If they accept, their deposit goes non-refundable and the inspection facility will take about another two to three weeks to fix all the discrepancies.
After that, they’ve bought the airplane out, it’s returned to service, and allow a few more days to close, then the airplane is yours!