Three Quick Questions Will Reveal Any Appraiser’s Operating And Valuing Process

Most business owners do not know that an error in judgment in appraising machinery and equipment can be costly. That’s why as a business owner, you should have confidence that the values are true and are backed by evidence to support the fair market 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.

1. Which professional has the training, knowledge and expertise to provide a Certified Machinery and Equipment Appraisal Report?

Answer:
A CPA, business broker, attorney and other business professional may have knowledge of machinery and equipment appraisals; however, they are unable to provide a Certified report unless they have been awarded a professional designation to do so.

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 is that professional 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.

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 21 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

3. What can you expect from a Certified Machinery and Equipment Appraisal Report?

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 and courts.