Appraisal Witness: Qualified Expert

Appraisal Witness: Qualified Expert

Machinery and Equipment Appraisal

Machinery and equipment appraisals are usually needed when there is a business bankruptcy, changes hands, partnership dissolutions, acquisitions, estate settlements, mergers, or the business needs financing. Machinery and equipment appraisals will allow the owners of the business or the court to realize value to risk, depreciation, value for distribution or value for sale. After the machinery and equipment appraisal the appraiser may be asked to give his testimony in court defending his valuation or be called as an expert appraisal witnesses. Machinery and equipment appraisals includes offices, industries, mines, factories, medical facilities, food processors, and is limited only to machinery and equipment that is commercially manufactured as well as custom manufactured. In some cases the machinery and equipment is immobile and the machinery and equipment appraisals are valued on site, in place.

Machinery and equipment appraisals will be needed if you are trying to negotiate a settlement with your insurance company due to damage or loss? Tax deductions on equipment that is donated will need an accredited *** machinery and equipment appraisal attached to your tax return. Natural disaster such as wind, floods, tornadoes, hurricanes, earthquakes, earth slides and sink holes claims billions of dollars of machinery and equipment each year. A Machinery and equipment appraisal of your equipment, before the natural disaster, will expedite your insurance claim. Should disaster strike equipment, a machinery and equipment appraisal can still be performed to document your loss and recover the amount needed to continue the business.

Many buyers would like to know the true value of machinery and equipment before they buy it. Machinery and equipment appraisals are tailored to describe present value, percent of wear, resale value, liquidation value and fair market value, from which you can comfortably determine a bid or proposal.

Lease disputes are common and not often resolved before going to court. A Machinery and equipment appraisal by an accredited expert appraisal witness can make the difference between resolution and business failure.

*** Accredited appraisal is only performed by an appraiser that has met all the CURRENT legal qualifications required by laws passed as recent as 2008. USPAP (Uniform Standards of Professional Appraisal Practice) criteria is set up by Congress. The latest standards of 2008 must be adhered to by an accredited appraiser that has passed the USPAP test in 2012. Most appraisers HAVE NOT passed the current USPAP test and therefore do not qualify to tender an appraisal that is accredited.

Durkin Valuation Associates are accredited appraisers, USPAP Compliant and have successfully passed the 2012-2013 Uniform Standards of Professional Appraisal Practice test. Our Senior appraisers have 70 years combined appraisal experience during the last 30 years. Call  (617) 720-0332 or email below for more information.

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