Many real estate appraisers have found that their flow of business has all but ground to a halt due to sluggish real estate sales, the mortgage crisis, confusion regarding the Home Valuation Code of Conduct (HVCC), and lingering uncertainty about the economy. Some companies have been forced to close their doors; however, others have diversified their portfolios of appraisal services to bolster their businesses, including focusing on machinery and equipment appraisal to meet the market demand for these services.
A NEBB member, Present Value LLC, a full-service appraisal firm that started as a real estate appraisal firm, realized they needed to expand their business to include business valuation, certified machinery and equipment appraisals, and asset verification services. The largest demand for these machinery and equipment appraisals is coming from lenders that need to ensure that their business investments are sound and that they can recoup their money should a client default on a loan.
By obtaining a certified machinery and equipment appraisal, lenders can make better, more informed lending decisions by evaluating the equipment a loan recipient wants to buy or ensuring that a business’s machinery and equipment can be held up for collateral.
By: NEBB Institute
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