Certified in Equipment, Machinery, Business Appraisal
Call Us: 919-424-6300

Appraisal Fees

Certified Machinery And Equipment Appraisal Costs

The appraiser will determine the fee at the beginning of the appraisal assignment and provide complete disclosure of the fee. You will need to sign an engagement letter which instructs the appraiser as to what is to be appraised and who is to receive it. In this letter will be the fee. PLAINLY STATED. You will be asked to pay the fee at the time of the engagement. This assures that the appraiser will not be influenced as to the results he will present to you. As they say, “It is what it is”.

What do you get for your fee?

You may specify the type of appraisal. It may be a “Summary” or a “Desktop”

If it is a Summary, the appraiser will do a site visit and visually observe each item to be appraised. This can be discreetly arranged if employees might be disturbed. ProBiz will generally make a digital photo record of major items and record serial numbers, manufacturer, condition and other relevant data.

Next the appraiser take the information gathered back to his office and begin a search and research project. He is looking for “comps.” and other helpful information which will be used to arrive at a fair market value (FMV). (In some cases you may request a LMV Liquidation market value) or other standard.

When he has gathered what he believes to be sufficient information, he will begin to create a written report for you. This takes many hours from start to finish and you are primarily paying for the appraiser’s time and expertise and the fact that he is certified.

He will then deliver to you a Professionally Embossed And Bound Certified Appraisal Report…

How can I save money on the fee?

Remember, the fee is not based on the value of what is being appraised – it is based the appraiser’s time and expertise and the fact that he is certified. Here are things you can do to “speed the process”:

Have available your Depreciation Schedule. This lists many of your major purchases and often includes helpful information such as date of purchase, manufacturer, serial number etc.
Make sure all the items to be appraised are present.
Provide the appraiser with a key person or yourself to walk the site and accompany him.
Clean the equipment.   Clean and locate the serial number tag in advance if possible.
If you have any information, such as other equipment from the same manufacture, share it.
Would you surprised to learn that the (3) most commonly used methods for appraisal are inaccurate and filled with liability?

  • Guess
  • Rely on book value
  • Rely on the word of a non-certified person. (Beware of a “hidden” agenda.) You want ACCURATE, not “inaccurate” and you want CERTIFIED , “filled with liability”.

NOTE:
If an Appraisal Report is based on guessing, relying on book value, or relying on a word of a non-certified person (who may have a “hidden” agenda), the Report will not hold up to scrutiny because it lacks substantiation.  If values can not be substantiated, but the Report itself is worthless.  And possibly dangerous.  It must be written to reflect the approaches to value, market conditions, photographs and required substantiation that a USPAP Report contains.

USPAP? What is USPAP ? USPAP stands for Uniform Standards of Professional Appraisal Practice. These Uniform Standards of Professional Appraisal Practice were promulgated by Congress and are accepted around the world as the authoritative source for machinery/equipment and business appraisals. Accept nothing less.
ProBiz Business Appraisals Provides:

  • Ethical Obligations – Each Certified Appraisal is USPAP (Uniform Standards of Professional appraisal Practice) Compliant.
  • Advocacy Only Of The Appraisal  – We are an advocate only of the Appraisal, not of any person or entity, which maintains our objectivity.
  • Certification – We have earned through the NEBB Institute, an industry leader of machinery/equipment appraisal and brokerage, the professional designation of Certified Machinery & Equipment Appraiser (CMEA).
  • Defensible Appraisal – Comprehensive and substantiated estimates of value that hold up to scrutiny with the IRS, lenders, buyers, sellers, courts, CPAs, attorneys, and others.
Contact Us Now