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There is no charge to place a bid.
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Bids must be legible and completely filled in. Please verify the information provided is accurate and complete. There will be a $100.00 fee charged for any changes to information provided after the offer is accepted as the information is submitted for title paperwork.
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If a corporation or dealer is submitting a bid please provide the corporate name and contact person for the corporation.
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Sales tax will be charged to everyone except for the dealers that have a valid state sales tax number. To be considered exempt IRG must have a valid copy of Sales Tax Certificate on file.
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There is a $324 admin/closing fee that will be charged on all sales. This is for the research and paperwork required for the buyer to have a clear and free title. This fee does not include transferring the title or documentation. Buyers will receive all of the paperwork necessary to complete this process.
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Obtaining the Title, FAA Documentation or USCG Documentation may take 3-4 weeks. You will be issued an IRG Bill of Sale at closing.
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All inventory is sold AS IS WHERE IS. No warranties or guarantees are implied or expressed.
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Upon acceptance of a bid, the bidder must WIRE a 10% deposit into our escrow account within 24 hours. Final funds are to be WIRED to the same escrow account within 10 days. Failure to close in a timely manner may result in forfeiture of deposit. If a deposit is not received the collateral will still be on the market to all bidders.
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A bid may be placed with contingencies i.e., sea trial, inspection etc. The bidder is responsible for any and all fees incurred for any contingencies. Any damages incurred by the buyer or buyer's agent may be cause to retain deposit if the sale is not completed timely.
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The lender will generally respond with a counter or acceptance within 48 hours of bid submittal.
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Office hours are Monday thru Friday 8 am to 5 pm. You must schedule an appointment to view our inventory. Hours for inspections are Monday thru Friday 8:30 am to 4:15 pm.
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IRG reserves the right to reject any bid or to extend the deadline for bidding. If, at IRG’s discretion, no reasonable bid is received, IRG may elect to sell collateral at public auction or via private sale with no prior notice.
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All information provided about the inventory is believed to be accurate, however, bidder assumes full responsibility to verify and confirm any and all information and specifications provided. All inventory is sold AS IS WHERE IS, with no warranties expressed or implied as to condition or worthiness for particular purposes. If litigation arises out of or related to this process the prevailing party is entitled to recover its attorneys’ fees and costs from non-prevailing party.
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IRG will NOT accept checks of any kind.
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The 10% deposit is fully refundable if 1) the decision not to finalize the contract is within the 10 days, 2) there is NO damage to the aircraft by the bidder or anyone the bidder hires or requires to be in contact with the aircraft and 3) all persons hired by the bidder have been paid in full.
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There will be no test flights except under very select criteria to be determined by IRG and the Bank.
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