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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Oilfield business personal property
Oil & Gas Financial Journal
IN GENERAL, personal property tax valuations are likely two to five times too high for equipment. For oilfield equipment, personal property tax valuations are typically four to 10 times the correct value, due to systemic valuation errors by appraisal ...




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GlobeNewswire (press release)
“The GVP Mobile Appraiser has incorporated input from a number of County Government Property Appraisal Offices who are technology leaders in the industry,” remarked Jeff Young, iLOOKABOUT's President, “As a client focused organization, iLOOKABOUT has a ...

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The Mercury News

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The Mercury News
Indeed, for an appraisal to comply with the industry's Uniform Standard of Professional Appraisal Practices (USPAP), I have to certify that I have no present or prospective interest in the property under review and no personal interest with respect to ...




Judge nullifies IDFPR proceedings
Putnam County Record
The appraisal included business, personal property, and real estate appraisal opinions. The Circuit Court affirmed that the IDFPR regulatory jurisdiction was limited strictly to federally-related appraisals of real estate, which means appraisals ...




Enid News & Eagle

Wiens, Gungoll join Lippard Auctioneers
Enid News & Eagle
He is a 2017 graduate of the Walton School of Auctioneering. He plans to continue his training in real estate appraisal. He also is interested in personal property appraisal and commercial real estate. Gungoll grew up working on the family farm in ...




TCPalm

Does the association's insurance cover hurricane damages to building exteriors?
TCPalm
Under §718.111(11)(a), an association must provide adequate property insurance for the replacement cost of the insured property as determined by an independent insurance appraisal or update of a prior appraisal, which must be determined at least once ...




Newcanaandarienmag

What's it Worth?
Newcanaandarienmag
When is an appraiser most helpful? Downsizing is a major reason for personal property appraisals so you can determine what should be saved, sold, gifted to family members or charity. Appraisals are also helpful if you're moving (to ensure proper ...

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Realtor.com News

In a Home Trust, How Does One Beneficiary Buy Out the Others?
Realtor.com News
... to do with the property. Plus, if multiple people inherit the home, things can get very tricky on both a financial and personal level. ... If the parties involved agree that one will buy the others out, O'Hare says, it's important that the ...




DTN The Progressive Farmer (registration) (blog)

Watch Charity Rules
DTN The Progressive Farmer (registration) (blog)
To claim a fair market deduction, tangible personal property must be retained by the charity for use in its exempt function. For example, a taxpayer who donates artwork to a museum for its collection may secure an appraisal and claim a market value ...




Casualty Losses: Accelerate the Refund
Business Observer
An appraisal is recommended to establish and document the decline in value, but the actual cost of repairs can be used as an alternative estimate of decline, as long as the repairs do not increase the value of the property above pre-casualty levels ...


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