You may have reasons why you would want your machines and assets to be appraised by certified equipment appraisers. Be it due to insurance claims, warranty disputes, company merger, acquisition, or for court litigation, it is essential to tap into the services of qualified and certified business appraisal team.
The Selection Process
In fairly and honestly assessing the present value of your equipment, you need to undergo a process of selecting the most competent and certified machinery appraiser. You may be enticed to employ someone you know, a local assessor or someone from a firm that is offering extra affordable services. It's a pitfall for countless clients as these people are not certified appraisers. The reports they generate will not stand in court nor will other corporations accept it. These written appraisals apparently do not have any value at all. It is important to always check for the certification of your assessors before inking that deal.
Qualities of a Good Equipment Appraiser
Being a certified appraiser is not enough. For you to get the best value for your money, try to look for the following qualities in your search for an eligible appraiser:
Certified equipment appraisal procedure may take some time. It is important to hire appraisers that are able to generate a comprehensive report within the given time frame.
The appraiser’s track record speaks volumes of his previous performance. If you want to hire someone with outstanding capabilities, try visiting online forums or ask for referrals. Testimonials from previous clients are the best evidence of the assessor’s performance.
The expertise of an excellent appraiser must not be limited to a certain field or industry. A good assessor must have vast knowledge about multiple spectrum of equipment and machines. A versatile appraiser will save you a lot of time and resources since you only need to hire one to appraise all your facilities.
Some companies do not want any of the appraisal reports be made public to protect the interest of their business. Thus, it is of utmost importance to hire a certified business appraisal team that adheres to the confidentiality clause of your agreement.
Not all certified appraisers will cost you a fortune. There are USPAP compliant appraisers that charge pocket-friendly prices for their services. To evaluate which offer is the best for you, try to solicit quotations from various appraisers and compare carefully. Take also into consideration their expertise, track record, and all other qualities mentioned above in deciding which one is fit to get the job done.
The author is a USPAP certified machine and equipment appraiser. Being in the industry for three decades now, he was able to build his appraisal company that has served thousands of companies. He is considered to be a formidable and trusted assessor for any facility appraisal needs.