Personal Property Appraisals
Personal property appraisals are useful for a variety of different purposes such as:
- Estate settlement,
- Estate Appraisals
- Insurance and Insurance Claim Appraisals
- Inheritance Tax Appraisals
- Divorce Appraisals
- Equitable Distribution Appraisals
- Non-Cash Charitable Contribution Appraisals
- Gift Tax Appraisals
- Net Worth Assessment Appraisal
- General Interest & Curiosity Appraisals
The appraisal report is itemized and contains detailed descriptions and individual values for all property being appraised. Each report is itemized and contains detailed descriptions and individual values for all property being appraised. Photographs are also recommended and can be provided as part of the appraisal process.
Appraisals are normally performed for an hourly fee. Fixed fees can be negotiated for larger projects. A preliminary consultation to determine the client’s needs and to estimate the cost of an appraisal is offered without charge.
What’s my machinery and equipment really worth?
Lenders, CPAs, Attorneys, Courts, and the IRS all require a USPAP compliant, substantiated Certified Equipment Appraisal. If the machinery appraisal report you obtain is not USPAP compliant, it is not a “qualified” appraisal prepared by a “qualified” appraiser pursuant to the Council of Foundations, IRS, or others and it will not hold up to scrutiny with the IRS, courts, or lenders. Opinions from uncertified individuals, guessing, and using book values are risky, unsubstantiated, and inaccurate.
A Certified Machinery & Equipment Appraisal gives you an independent substantiated, irrefutable, and USPAP compliant report you can rely upon with confidence.
Sellers need to know that they are not selling to low or pricing their machinery/equipment above the fair market value. Buyers want to know that they are not paying too much to purchase the machinery/equipment.
In addition, for allocation purposes, the IRS requires buyers and sellers to agree on the value of tangible assets involved with a business transfer. They must “allocate” a particular value for tangible assets as well as goodwill.
Farmers and Business owners in the following situations need a Certified Machinery and Equipment Appraisal: