Appraisals FAQs
When is an appraisal needed?
Banks financing machinery and equipment assets, Personal Property Taxes, Mergers and Acquisitions, Donations, Partnerships, 1031 Exchange, Accounting, and Legal.
Can you just do an inspection of equipment assets?
Yes, we preform on-site physical inspections that can include photographs and data inspection sheets. We can also provide video at time of inspection if needed. Just ask for Inspection Services.
How much does a certified equipment appraisal cost?
Each Appraisal is individually quoted based on one of the three methods. 1st – Amount of Line items, 2nd Amount of Time, 3rd Flat Rate. Every client has different needs, and factors like duplicate items, small cost items that can be combined, travel time, multiple locations, rush delivery of the appraisal report, litigation concerns, etc. Combining all of that, we review each job to find client cost savings while giving a realistic bid based on real conditions with an expected total cost up front. Typical response time is within an hour.
Industry Appraisals bids are generally lower or equal to our competition with certified equipment appraiser quality.
How long to get machine and equipment appraisals?
This is specific to the Equipment Appraisal. On most small to medium assignments, we can usually have the report in your email within 3-5 days after receiving all data. The site visit time frame and /or data collected by your staff would add time and should be planned. Larger assignment (100+ pieces of equipment or multiple distant locations) will be given an expectation up front. The larger assignment would take 2 weeks for example a 6 state, 15 locations, 1600 item job). Turn-a-round is 1/3 of the normal appraisal company time.
What type of equipment value do you need applied?
There are 12 different types of value that can be applied to equipment and they each have a specific situation in which to be used and very specific U.S.P.A.P. definition of each. That being said most clients only need 1 or more of the following:
Fair Market Value in Continued Use (Going Concern Business including setup, install, and tweak in time cost)
Fair Market Value (Going Concern Business)
Orderly Liquidation Value (Sale of equipment over time)
Forced Liquidation (Sale of equipment on specific date-Auction)
Appraise at All Equipment Value Levels or Multiple Values on one report.
Are your appraisers certified?
Yes, Industry Appraisals only produce Qualified and Certified Equipment Appraisal Reports. We use the U.S.P.A.P. and I.F.R.S. guidelines depending on the client’s specific needs. All of our Appraisers have passed stringent training, maintain continuing education and hold themselves out as Certified Machinery and equipment Appraisers. Our Appraisers have one or more of the top certifications in this field those being: MCMEA (Master Certified Machinery & Equipment Appraiser), CMEA (Certified Machinery and Equipment Appraiser) or ASA (Accredited Senior Appraiser).
Our Appraisers are Certified by NEBBI and/ or the ASA with many other designations in other disciplines.
What is the difference in an On-site or Desktop Appraisal?
The Data collection between the equipment appraisal report is what is different. The values and research will be the same. The report is the same except for a statement that says the data was collected by our appraisers or by the business. Cost of Desktop appraisal will be lower, because the fact that our equipment appraiser does not physically go onsite, so there is appraiser time saved.
We offer free data collection forms to guide you thru getting all the information we need in a perfect format that will save you time and money. Request A Data Collection Form !!!
Are your appraisers expert witnesses?
Yes, our appraisal reports are substantiated, irrefutable, and reviewed for law changes constantly. We strictly follow the most current guidelines of U.S.P.A.P. (Uniform Standards of Professional Appraisal Practice) as promulgated by congress as the industry guideline. Our Appraisal Report Format is easy to present, defend and has been positively received by Judges who have reviewed our appraisal reports.
Do you offer SBA / IRS qualified equipment appraisal report?
Yes, We only produce Qualified and Certified Equipment Appraisal Reports. We use guidelines by U.S.P.A.P. and I.F.R.S. depending on our clients specific needs. All of our Equipment Appraisers have passed stringent training, maintain continuing education, and hold themselves out as Certified Machinery and Equipment Appraisers. Our Equipment Appraisers have one or more of the top certifications in this field either MCMEA (Master Certified Machinery & Equipment Appraiser) or CMEA ( Certified Machinery & Equipment Appraiser), ASA (Accredited Senior Appraiser). Our Appraisers are Certified By the NEBBi and / or the ASA with many other designations in other disciplines.
Does it Matter if just a Dealer or Liquidator appraises my equipment?
Dealers-Auctioneers, Equipment Resellers, and other non-certified people offer appraisals, DON’T Risk IT!!!
BEWARE! They are almost never certified by a real certification company.
BEWARE! They are usually Bias in some way about value (are they hoping to buy it or sell it and fudge the price accordingly).
BEWARE! They will say they are the same – but they are NOT. And their reports are usually worthless in court, rarely accepted by SBA, IRS, other entities, and are starting to be rejected by Banks and other Lenders. The Most Expensive Appraisal You will ever buy – is the second one because your first appraiser was not accepted!
Information / Data Needed to get Started?
We will schedule your appraisal and work through collecting the data either by an onsite visit or through desktop collection after we receive the following from you:
1. The Client Requesting the report.
2. The Business and or locations where the equipment is located.
3. The Value Level you want us to appraise the equipment at.
4. The Time Frame you need your report in.
5. What the Appraisal is for ( Needs to be Specific).
6. An asset list or depreciation schedule to quote the job.
7.Contact information (Phone, Email, Titles, Etc.) Usually the first step of the process can be done in an Hour – We keep it simple for you and are here to help.