Appraisals

Purpose Of The Appraisal

An appraisal can have many purposes including, but not limited to:

• Accounting
• Insurance
• Leasing
• Financing
• Liquidation / Bankruptcy
• Management Planning

Types Of Appraisals

Probate Appraisals
Probate appraisals are written when required by Probate Court or the executors or attorneys for the estate. These appraisals also offer comparative values for the distribution of property among heirs and to establish value for tax purposes.

Insurance and Replacement
The replacement values used for insurance appraisals provide and estimate of the total cost of replacing property that is lost to theft, fire, or flood.

Family Division
Appraisals can be written for the fair division of property within family and among heirs and beneficiaries.

Donation
Appraisals of property for a charitable donation must be written on the basis of realistic fair market value as required by the regulations of the Internal Revenue Service.

Certified Personal Property Appraisal

A full appraisal consists of machinery, furniture, office and telecommunications equipment, computer and networking equipment, vehicles, antiques and collectibles, etc. Appraisals can be performed for individual pieces of equipment, a production line, a complete facility, or multiple operating facilities.

• We define the purpose of the appraisal.
• We establish the valuation date for the appraisal.
• We determine the appropriate valuation concepts and approaches to be utilized.
• We determine the type of valuation study to be completed.
• We select the type of appraisal report to be provided.
• We check the availability of data and information.

Types of Studies Performed During a Valuation

• Inventory
• Site Inspection
• Desktop

Desktop Appraisal – A desktop appraisal is utilized when timing is short, or a site visit is not required. A detailed asset listing must be provided and those familiar with the assets should be available to discuss their condition.

Site Inspection – This inspection provides confirmation that the:

• Assets are present in the location stated.
• Specific information regarding the assets, such as year, make, model, serial number, rebuild, retrofit history, original cost information, and any other information, that is important to the appraisal or the client, is complete and accurate.
• Assets are properly maintained and/or in good working condition.
• Assets are being used in an appropriate manner as per the original design.

On Site – All of our equipment/item appraisal work is supervised and performed by certified appraisers. These appraisals conform to the Uniform Standards of Professional Appraisal Practice (USPAP).