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3 Red Flags in Machinery & Equipment Appraisal Reports

I recently submitted a few examples of Machinery & Equipment Review problems–along with a sample review report–to an overseas valuation organization that’s putting together an in-house manual for its members. What’s interesting to me is that although this organization follows IVS instead of USPAP, is governmentally regulated in a way that ASA equipment appraisers are…Read More

15 Most Common Appraisal Report Mistakes

Appraisal review isn’t just for appraisers. While attorneys and CPAs may be best served by hiring a trained reviewer for questionable appraisals, they can do an initial pass using a quick checklist of a handful of common appraisal report mistakes. We discuss these errors in great detail in the ARM accreditation classes offered by ASA…Read More

Deconstructing Daubert on the Art of Appraisal

Appraisers frequently refer to what they do as an “art.” And in fact, the word “art” features prominently in the title of a book on appraisal review published by a major appraisal organization. But the practice of referring to appraisals and appraisal review as an “art” can be problematic, especially when we’re providing appraisals to…Read More

Appraisals for Ad Valorem Tax Appeals

Considering an ad valorem tax appeal for your business? Business owners who provide independent equipment values researched by experienced, qualified equipment appraisers are more successful in their tax appeal. Whether negotiating assessed values with the county property appraiser or in a value adjustment board hearing, a taxpayer who’s prepared with a USPAP equipment appraisal review has a better chance of…Read More

Equipment Appraisal Reconciliation

Reconciliation is the final process for the equipment appraiser when more than one approach to value is used in an equipment valuation. That process involves reconciling the values from the separate approaches and resolving, if necessary, any differences in order to arrive at a final opinion of value. The question here is: “Why in the world…Read More

The Financial Risks of Flawed Appraisals

A previous post introduced the five qualities of a credible appraisal, and in a perfect world, the equipment appraisal report you’re basing financial decisions on would always adequately address those USPAP-specified qualities. The fact is though, that in this imperfect world many equipment appraisal reports don’t meet the basic requirements of completeness, accuracy, adequacy, relevance,…Read More

How to Get an Accurate Desktop Appraisal

Desktop appraisals, or limited scope appraisals, aren’t always cheaper or faster than the usual equipment appraisal, but — as discussed in a previous post about desktop appraisals — sometimes they’re a reasonable choice given the circumstances. And if you and your appraiser agree that a desktop appraisal meets your needs, you’ll be doing some of the…Read More

When to Worry About the Accuracy of Your Appraisal

An appraisal review or expert rebuttal report is a good choice whenever you feel confused about the methodology used in an equipment appraisal report or uneasy about the qualifications of the equipment appraiser. This could be a report you originally contracted for – or it could be an equipment appraisal report you’ve received from another…Read More

Must-Have Resource From the Appraisal Foundation

If you’ve ever had any questions about equipment appraisal, I’m happy to share with you a new, free downloadable brochure from the Appraisal Foundation, entitled Valuation of Machinery and Equipment. This full-color, 20-page booklet is packed full of must-have information; it lists reasons you might need an equipment appraisal, provides important definitions from the American Society…Read More

USPAP: Not just for Litigation Appraisals

Litigation support, from an equipment appraiser’s point of view, often seems like a long discussion about what constitutes an adequate appraisal report –– and that inevitably includes explaining what USPAP is and why it’s important. Of course, the benefits of a USPAP report aren’t limited to litigation purposes: professional appraisal standards benefit everyone in every situation for…Read More

How to Read an Appraisal Report

Some folks get their equipment appraisal reports and flip straight to the value amounts. And that’s fine — it’s the final opinion of value, after all, that’s needed for most equipment appraisal purposes — but that value amount doesn’t confirm whether or not you’ve gotten a useful and qualified report: a report that not only provides…Read More

Have Appraisals, Will Travel

Sometimes being an equipment appraiser means we have to take a road trip. And sometimes, a series of assignments means that the laptop and the smart phone transform the passenger seat of the company car into a mobile office for several days on end. Last month was very much like that, as we traveled from…Read More