How do I get the best Equipment Appraisal on Leased Equipment?
We find that when it comes to getting an equipment appraisal on Leased Equipment, there are some specific things you need to consider.
If you are the Lease holding Company - Be sure you work closely with your equipment appraiser so that the definition of value mirrors the one you have used in your contract. There have been many times we have seen appraisals that do not exactly match the definition, and it can render the equipment appraisal useless. We realize that you have specific needs and jargon in your contracts and are willing to work closely with you to correctly value the equipment.
If you are the Equipment Buyer or Owner - The main thing you must pay attention to is the contract terms when having your equipment appraisal performed. By not mirroring the exact contract terms and definitions, you can easily waste money on an appraisal that will get you nowhere. We suggest that if you are working out a negotiation with the lease holding company that you have us appraise the equipment as per their definition and also appraise the equipment as per USPAP definitions of value. This can give you a bargaining position.
We Know your Equipment
Master Level Appraisers
Here are some primary things you need to consider:
A Certified Equipment Appraisal is a Strong Negotiating Tool
Get all 3 Primary Values on the report (High, Mid, Low - See definitions below)
Certified = Preferred & Accepted by Lenders / SBA
Decide on a realistic line item value threshold - Ask us about this if unsure
Equipment Appraisals can help set Insurable Values
We Understand Lease Agreement Wording and Appraise Accordingly
If there is potential Litigation - Make sure your Report is Certified
We have done Thousands of Appraisals for the lessor and lessee
Lease Appraisals are a significant portion of our business.