{"id":12276,"date":"2013-06-19T10:50:10","date_gmt":"2013-06-19T14:50:10","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/how-do-certified-and-non-certified-appraisals-differ\/"},"modified":"2022-12-20T09:31:38","modified_gmt":"2022-12-20T14:31:38","slug":"how-do-certified-and-non-certified-appraisals-differ","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/how-do-certified-and-non-certified-appraisals-differ\/","title":{"rendered":"How do Certified and Non-Certified Appraisals Differ?"},"content":{"rendered":"

If you are planning on hiring an appraiser to determine the value of your business assets, you may run into both certified and non-certified appraisers. Without a lot of background information, it can be difficult to know which type of appraiser to choose. At the NEBB Institute, we believe that using a certified appraiser is the right decision every time.<\/p>\n

When considering candidates to perform your appraisal, ask about their credentials or look for the initials CMEA (Certified Machinery and Equipment Appraiser) in their titles. Keep in mind that sometimes auctioneers, liquidators, or dealers will call themselves appraisers, but won\u2019t have these credentials.<\/p>\n

If possible, look at sample reports or ask other trusted people in your industry to share reports with you. A USPAP-certified appraisal should always contain the following elements:<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Summary of Facts<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Scope of Work<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Degree to Which the Property is Inspected or Identified<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Extent of Research into the Physical or Economic Factors that Could Affect the Property<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Extent of Data Research<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Type and Extent of Analysis Applied in Arriving at Opinions or Conclusions<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Depth of Onsite Inspection<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Overall Condition of Equipment<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Intended Use<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Economic Conditions<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Definitions of Conditions<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Methods of Evaluations<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sources Contacted<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market Conditions<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Final Value Summary and Reconciliation<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0Appraiser\u2019s Certifications and Qualifications<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Photographs<\/p>\n

If a non-certified appraisal conducts your appraisal, you could end up with anything \u2013 even just a list of items on prices on company letterhead.<\/p>\n

It is also true that non-certified appraisals and certified appraisals can contain exactly the same information. Despite this, there is still one very important thing to keep in mind: A certified appraisal will stand up to peer, IRS, and court scrutiny, whereas a non-certified appraisal will not.<\/p>\n

By: NEBB Institute<\/b><\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

If you are planning on hiring an appraiser to determine the value of your business assets, you may run into both certified and non-certified appraisers. Without a lot of background information, it can be difficult to know which type of appraiser to choose. At the NEBB Institute, we believe that using a certified appraiser is […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[31],"class_list":["post-12276","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-certified-machinery-and-equipment-appraiser"],"yoast_head":"\nHow do Certified and Non-Certified Appraisals Differ?<\/title>\n<meta name=\"description\" content=\"How do Certified & Non-Certified Appraisals Differ? 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