USPAP equipment appraisals
USPAP 2012-2013 Free Download Available
UPDATE, March 8, 2012: We got a call this morning from the fine folks at the Appraisal Foundation asking us to remove the link to the free Gold app USPAP publication originally included in this blog, so you will not be able to click through to that. The flip book link was allowed to stay.
As many of you know, USPAP (Uniform Standards of Professional Appraisal Practice) has been updated with a new edition. The Appraisal Foundation offers a link to a USPAP “flip book,” which includes the quasi-cool sound effect of pages flipping as you “leaf” through the book. A more practical source — and the one we downloaded here at our machinery and equipment appraisal office — may be this free 2012 -2013 USPAP.pdf available for download.
Scope of Work for Equipment Appraisals
As a Sacramento equipment appraiser, I can verify that defining the scope of work is a critical first step in any appraisal process. Even before quoting a priceon an equipment appraisal, we need to closely define our scope of work. Scope of work is defined by our friends at USPAP (Uniform Standards of Professional Appraisal Practice) as the type and extent of research and analyses in an assignment, and USPAP states in no uncertain terns that is the appraiser’s responsibility to determine and perform the appropriate scope of work.USPAP’s Scope of Work Rule states that an appraiser must
Bankruptcy Equipment Appraisals: 5 Steps to Saving Money
Part 1 of 2: Investory & Information
Eventually during a bankruptcy process, the Bankruptcy Attorney will advise procuring a Bankruptcy Equipment Appraisal Report. While this may seem like just one more expense, a USPAP equipment appraisal is critical to your bankruptcy process, whether you own an agricultural business, a manufacturing plant, factory, construction or excavating business, or a speciality production shop.
You already know how important it is to get an experienced qualified equipment appraiser to provide an appraisal report, and a previous post suggested how to get an estimate on how much the appraisal will cost.
Collector Car Appraisals for Remote Purchases
Need a Collector Car Appraisal?
(Thanks to SeriousWheels for this sample photo)
Often they ask if I can drive over to Reno or Santa Barbara, or fly into Vegas or Los Angeles, to see if the restoration, repair or replacement work on the vehicle has been done properly. They might also want me to assert whether the collector car really does fall within the rating with which it has been been described, usually a 2 or 2.5.
Appraising Commercial Trailers in a Demanding Market
Recently I prepared an ag equipment appraisal for a transportation company in the Sacramento Valley. The bulk of the equipment was rolling stock–trucks and agricultural trailers. During my research, I realized that the commercial trailers had increased tremendously in value as the years rolled by. Hopper trailers, in particular, are trading at premium prices right now, and not just in California. Part of the reason trailers don’t lose value as quickly as other agricultural and commercial vehicles is obvious: no engines to break down, no odometers, no hour meters and very few moving parts mean that maintenance is less complicated.
Sacramento Equipment Appraiser’s Vacation: No Busman’s Holiday
From August 28 until September 13, our Sacramento area equipment appraisal office was shockingly quiet. No electronic humming of computers and printers, no out-going phone calls, no inter-office chatting, no consulting or report composing. No farm equipment down in Modesto or rolling stock up in Yuba City got appraised, no proposals for cost segregation studies for Sacramento office complexes got mailed out, not even a Subject Asset list for a Marin County restaurant or an Elk Grove print shop was reviewed. Nada. Ziltch. Nothing.
Not one single USPAP Equipment Appraisal Report or Qualified IRS Cost Segregation Study left the office in a crisp white envelope.
