Who Needs Certified Appraisal?

Who needs certified machinery and equipment appraisal?

Business Owners:

Reason for Appraisal: Business owners may seek machinery and equipment appraisals to understand the overall value of their assets. This information is crucial for decision-making, strategic planning, financial reporting, and potentially for sale or financing purposes.

Lenders:

Reason for Appraisal: Lenders use machinery and equipment appraisals to assess the collateral value when businesses seek loans. It helps them determine the level of risk associated with the loan and ensures that the assets can cover the loan amount in case of default.

Leasing Companies:

Reason for Appraisal: Leasing companies use appraisals to determine the value of the assets they own and lease to businesses. It helps in setting appropriate lease rates and assessing the residual value of the assets at the end of the lease term.

Insurance Agents:

Reason for Appraisal: Insurance agents may recommend or require machinery and equipment appraisals to establish accurate coverage amounts. This ensures that businesses are adequately insured, and claims can be settled based on the true value of the assets.

Insurance Adjusters:

Reason for Appraisal: Adjusters use appraisals to assess the value of damaged or lost machinery and equipment in insurance claims. This helps determine the appropriate settlement amount and ensures fair compensation for the policyholder.

CPAs (Certified Public Accountants):

Reason for Appraisal: CPAs may use machinery and equipment appraisals for financial reporting purposes. The appraised values contribute to accurate balance sheets, depreciation schedules, and overall financial health assessments for businesses.

Attorneys & Courts:

Reason for Appraisal: Attorneys and courts may require appraisals in legal disputes, such as divorce settlements, partnership dissolutions, or bankruptcy proceedings. Appraisals provide an objective assessment of asset values for fair resolution.

Business Brokers:

Reason for Appraisal: Business brokers use machinery and equipment appraisals when facilitating the sale of a business. Accurate appraisals help determine the fair market value of assets, contributing to fair negotiations between buyers and sellers.

In summary, machinery and equipment appraisals serve various purposes, including asset management, financial decision-making, risk assessment, insurance coverage, legal proceedings, and facilitating business transactions. The value derived from appraisals assists stakeholders in making well-informed and strategic decisions related to their involvement with the business.

Contact Corvus machinery and Equipment Appraisal to determine correct appraisal type for your needs.

Based in Easton, Pennsylvania and providing local appraisals in PA, NY, NJ and the surrounding regions.