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.
You require the services of aircraft valuation company if you are planning to dispose your plane for the purpose of knowing its worth. The same applies when you need to do a refinancing of a loan. The importance of the valuation company cannot therefore be ignored.
In carrying out the valuation of the plane, the firm will issue a written report to the party that requested it. Among the information that is contained in the report are the reasons that made the value arrive at a particular conclusion. That report can be used as an evidence of the true value to any interested party that would include a lender, seller or a buyer.
When choosing the company to undertake the valuation, you must ensure that they are licensed to carry out the process. You will have the guarantee that the report that you hold is not biased and can be relied upon as an authority in the industry.
Several reasons will motivate a plane buyer to seek the services of aircraft valuation firm. One of the instances is when an insurance policy is required. Determining the real value of a plane you are planning to buy is important so that you are not overcharged. In most cases a seller will be asking for a price that is way above the real value.
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 will act smart when you are shopping for policies or when doing a transaction for a sale.
Trying to determine the worth of your plane by going to the web is highly unadvisable. The only sure way of knowing the true value is through an official appraisal. 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. It is important to note that the charges will be determined by several factors. 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.