Three Quick Questions You Need To Find Out Of Any Equipment Appraiser

The Answer To These 3 Questions Will Reveal Any Appraiser’s Operating And Valuing Process. Ask Them And Save Money And Time.

Oftentimes, you do not know that an error in judgment in appraising machinery and equipment can be costly. That’s why as you should have confidence that the values are true and are backed by evidence to support the fair market value, fair value, orderly liquidation value, or forced liquidation value.

Ask these important three questions to determine whether your Machinery and Equipment Appraisal Report will hold up under scrutiny. You see, all Machinery and Equipment Appraisal Reports are not created equal! These three quick questions will provide you with the information you need to know to determine if the equipment appraisal you need will withstand scrutiny.

QUESTION #1: Is it important that the appraiser you choose has a professional designation to prepare and submit an equipment appraisal?

Answer:
Yes, it is very important that the appraiser you choose has a professional designation to value your equipment. You can rely with confidence on a trained professional who is experienced in the ethics and reporting quidelines of USPAP. Gone are the days when a non-certified equipment appraisal will be accepted by governing authorities or will withstand scrutiny.

A Certified Machinery and Equipment Appraiser (CMEA) is a professional who has the training, knowledge, experience and background to render a Certified Machinery and Equipment Appraisal Report. All CMEA professionals receive extensive continuous training on a monthly basis and are subject to peer review on a regular basis. Only after a professional passes a comprehensive written examination and submits an appraisal that has passed peer review, is he/she awarded the prestigious professional designation of CMEA by the National Equipment & Machinery Brokers Institute. In addition, the professional is required to re-certify every five years.

More importantly, a CMEA is required to observe the highest standards of professional ethics and comply with regulations mandated by the Uniform Standards of Professional Appraisal Practice (USPAP). Only the skills of a CMEA professional make sound financial business sense to determine an accurate value.

QUESTION #2: What are the ethics of a CMEA?

Answer:
We mandate that every NEBB member and CMEA professional comply with the Ethics Rule of the Uniform Standards of Professional Appraisal Practice. NEBB promotes and adopts the standards of the USPAP Ethics Rule. It is imperative that the NEBB member and CMEA promote and preserve the public trust inherent in professional appraisal practice. View the NEBB Ethic Rules

QUESTION #3: What can you expect to see in a qualified equipment appraisal prepared by a Certified Machinery and Equipment Appraiser (CMEA)?

Answer:
A CMEA’s comprehensive and detailed Appraisal Report provides an accurate and descriptive Report that includes photographs, model numbers, serial numbers and other descriptive information. Values are based on extensive research, personal inspection, contact with manufacturers, and suppliers to determine what machinery and equipment is really worth. A CMEA’s machinery and equipment appraisals are performed to standards set by the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP). A CMEA stands behind the Certified Appraisal Report. That’s why it withstands scrutiny by financial institutions, CPA’s, courts and others.