SOURCE American Society of Appraisers – ASAReston VA, July 9, 2021 / PRNewswire ASA announces plan to resume pre-pandemic global expansion efforts, continuing to build strategic partnerships with international professional assessment organizations (OPVs). Such connections with like-minded organizations and like-minded organizations will help build global public trust of members and the evaluation profession through upholding…Read More
Gauging Competency in Appraisal Review
While gauging competency in appraisal review is similar to using a limit gauge in order to determine whether a part is within prescribed limits of tolerance, it’s not, of course, that simple. An appraiser’s competency depends on a number of factors, ranging from experience with the equipment and its market to the intended use of…Read More
Do You Need an Industry-Specific Valuation Expert?
Equipment appraisers often claim expertise in particular markets. And we do often become experts through our experience in valuing a particular industry throughout the years. In many situations, however, it’s more important to be an equipment appraisal expert than an industry expert! An expert equipment appraiser knows how to research the processes and equipment lines…Read More
Finding the Best Equipment Appraiser
This article by Joe Santora, ASA, was published earlier this summer on Equipment Finance Advisor and subsequently on Joe’s LinkedIn page, where I found it. I think you’ll enjoy Joe’s explanation of why choosing your equipment appraiser wisely is a critical step in the equipment finance process. Thanks, Joe, for granting permission to republish here! “You have…Read More
Learning How It Works
When I was 15, my family lived for awhile in the Ozark mountains outside of Branson, Missouri. For a kid who loved to hike, fish and hunt, this was pretty much heaven. The hills and open woods reminded me of the Pennsylvania family farm and my dog and I would wander all over the mountains…Read More
Seeds of an Appraisal Career
I spent last week back east visiting my uncle and cousins at the Young family farm, where my uncle, who grew up there, now raises goats, grains and vegetables and boards horses on the property. My grandfather (Pappy) wasn’t raised on a farm, but as a young man he built an old style dairy farm…Read More
USPAP 2014-15: 7 Notable Changes
Every two years, USPAP (Uniform Standards of Professional Appraisal Practice) gets an update. That doesn’t mean, of course, that all appraisers are learning about the updates in the same year that the new version of USPAP hits the streets. In fact many appraisers only take a USPAP class every 5 years! Or, as we discussed in…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
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
The Difference Between an Appraisal and an Appraisal Review
When clients call our office asking for an equipment appraisal review, I’ve found it’s important to ask them the purpose of the appraisal review. That quickly opens up the discussion about what an equipment appraisal review is and is not. And believe me, not everyone understands the difference between an appraisal (a quantitative analysis) and…Read More
5 Rules for Choosing a Qualified Equipment Appraiser
In a previous equipment appraisal post, we discussed the fact that machinery and equipment appraisers are not issued California appraiser licenses and certification pursuant to Assembly Bill 527. The regulations of that bill, which were established by what is currently the Bureau of Real Estate Appraisers, are only applicable to real estate appraisers. Machinery and equipment…Read More