Special Message to Lenders
Every day bankers, lessors and lenders come face-to-face with situations that require arriving at a realistic, independent and fair market value for machinery or equipment. What do you do? Guess? Deny the loan?
If you can answer "Yes" to any of the following scenarios for yourself or those you serve, you need an Independent Certified Machinery or Equipment Appraisal to move confidently forward WITHOUT the high risk of running into trouble.
- Is there a chance that your machinery or equipment loans are under-collateralized?
- Are you becoming more "asset minded" due to cash flow and economic times?
- Do you need to know machinery or equipment values to secure existing loans?
- Is repossession inevitable?
- Do you have an experienced professional who has a national market of buyers that can turn a repossessed item into cash?
Why seek a certified report? 99.9% of appraisal reports fail to accurately value the tangible assets. Obviously, inaccurate appraisals are not uncommon. And, more disconcertingly, they can cause serious damage to your business.
Here are the three most common malpractices: 1) guess; 2) rely on book value; or 3) rely on the word of a non-certified person who may have a "hidden" agenda. All three methods are inaccurate and filled with liability. The report will not hold up to scrutiny because it lacks substantiation of the value.
Not only can values not be substantiated, but the Report itself is not written to reflect the approaches to value, market conditions, photographs and required substantiation that USPAP Reports contain. USPAP (Uniform Standards of Professional Appraisal Practice) was promulgated by Congress and is accepted around the world as the authoritative source for machinery/equipment and business appraisals.
|Don't risk it. I invite you to contact us today (877-661-1890) for a free consultation to discuss your needs with absolutely no obligation.
If you have questions before contacting us, please see our Frequently Asked Questions for immediate answers.