Plane Sense 2 2-2 Overhauls Aircraft title Factors Affecting Resale Value Aircraft records Aircraft records maintained by the FAA are on file  at the Mike Monroney Aeronautical Center in  Oklahoma City, Oklahoma. Copies of aircraft records  are available for review in CD format or paper. For  information on ordering and costs, contact the FAA Civil Aviation Registry Aircraft Registration Branch  (AFS-750). Copies of aircraft records may also be  requested online. Visit  www.faa.gov and select the  “Aircraft Registration” link. There may be other  records on file at federal, state, or local agencies that  are not recorded with the FAA. AFS-750 contact  information is in the FAA Contact Information  appendix on pages A1–A2 of this handbook. Know the major factors that affect resale value.  Generally speaking they are: Make sure the following documents are available and in proper order for the aircraft: m  CAUTION: Missing documents, pages, or  entries from aircraft logbooks may cause significant  problems for the purchaser and reduce the value of the aircraft. The Federal Aviation Act requires the FAA to main-  tain a recording system for aircraft bills of sale, security agreements, mortgages, and other liens. This is done at AFS-750, which also processes  applications for, and issues, aircraft registration  certificates. The two systems are linked together  because you must prove ownership in order to be entitled to register an aircraft. “Clear title” is a term commonly used by aircraft title search companies to indicate there are no liens (e.g., chattel mortgage, security agreement, tax  lien, artisan lien) in the FAA aircraft records. Title  searches for the aviation public are not performed by  AFS-750; however, the aircraft records contain all of the ownership and security documents that  have been filed with the FAA. AFS-750 records acceptable security instruments. In addition, some states authorize artisan liens  (mechanic liens). These also need to be recorded. Be  sure to check your state’s statutes regarding liens.  Be careful of the terminology used to describe engine condition. Do not confuse a top overhaul with  a major overhaul, or a major overhaul with a factory remanufactured “zero-time” engine. A top overhaul  involves the repair of engine components outside of the crankcase. A major overhaul involves the com- plete disassembly, inspection, repair, and reassembly  of an engine to specified limits. If an engine has had  a top or major overhaul, the logbooks must still show  the total time on the engine, if known, and its prior  maintenance history. A “zero-time” engine is one  that has been overhauled to factory new limits by the  original manufacturer and is issued a new logbook  without previous operating history.  • Airworthiness Certificate • Engine and airframe logbooks • Aircraft equipment list • Weight and balance data, placards  • FAA-approved Airplane Flight Manual (AFM)  and/or Pilot’s Operating Handbook (POH)  • Engine hours—perhaps the most common in-  fluence on resale value. The closer an engine is to  its recommended time between overhaul (TBO), the lower the value. There are many factors that  affect engine health, and a high-time engine is not necessarily bad. Regular use helps keep seals  and other engine components lubricated and in  good shape. • Installed equipment—such as avionics, air condi- tioning, deicing gear and interior equipment. The most valuable equipment is usually avionics, which can easily double the value of some older  aircraft. The newer the technology, the higher the value of the aircraft.  • Airworthiness directives (ADs)—issued by the  FAA for safety reasons. Once issued, owners are  required to comply with the AD within the time  period allotted. It is important to look at the AD history of an aircraft and ensure the logbooks  show compliance with all applicable ADs. ADs are discussed in greater detail in chapter 9. • Damage history—it may be difficult  to locate a complete damage history for an aircraft. Any  aircraft with a damage history should be closely  scrutinized to ensure it has been properly  repaired in accordance with the applicable Title  14 of the Code of Federal Regulations (14 CFR)  parts and recommended practices.  • Paint/Interior—as is the case with homes, paint  can be used to give “tired” aircraft a quick face- lift. Check new paint jobs carefully for evidence of corrosion under the surface. Interior items  should be checked for proper fit and condition.