{"id":12373,"date":"2011-07-28T02:35:11","date_gmt":"2011-07-28T06:35:11","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/machinery-and-equipment-appraisal-preparation\/"},"modified":"2022-12-29T02:51:53","modified_gmt":"2022-12-29T07:51:53","slug":"machinery-and-equipment-appraisal-preparation","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/machinery-and-equipment-appraisal-preparation\/","title":{"rendered":"Machinery and Equipment Appraisal Preparation"},"content":{"rendered":"
Before a business owner gets his or her assets appraised for insurance, sale or before the sale of a business, there are a few things the owner should do to make sure that the appraisal process goes well.<\/p>\n
Make Lists \u2013 Write down each piece of equipment that should be appraised. If you have serial numbers, include them in your list. Also put owners\u2019 manuals, maintenance or repair records, and receipts together for the appraiser.<\/p>\n
Maintenance \u2013 Before the equipment is appraised, clean it and make any necessary repairs. This is especially important if you want to sell the equipment, because this will help you sell it for the highest cost possible.<\/p>\n
Know Who You\u2019re Working With \u2013 Be sure that your appraiser is an experienced certified machinery and equipment appraiser (CMEA)<\/a>. It is also important for you do know what the appraiser\u2019s report should look like. Typically, a CMEA\u2019s appraisal report would include photographs, model numbers, serial numbers, and other descriptive information. The equipment value is based on research, the appraiser\u2019s inspection, and contact with manufacturers and suppliers of the equipment. A CMEA\u2019s appraisal will always be performed to standards set by USPAP<\/a>.<\/p>\n