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Asset Appraisals - FAQ

Get answers to many common Asset Appraisal questions below - Have more questions? Contact us today!

Asset Appraisals - FAQ

How do I determine what my business assets are worth?
Pay a certified professional business appraiser who can value your business' assets.
What is a asset appraiser?
A asset appraiser is an analyst that determines the value of tangible assets such as real estate, autos, furniture, equipment, etc.
What is a certified asset appraisal?
A asset appraisal is created when and only when a company's assets are tangible in nature. Intangible assets (such as a company's good will) are valued not appraised. The asset appraisal report is usually a component of a larger business valuation report.
What is a certified asset appraisal report?
An asset appraisal report is the end product of a asset appraisal. It specifies, in writing, the value of your business's physical assets. Complying with industry standards, the professional appraiser certifies that he or she is a qualified, independent appraiser and will date and sign the report. The appraiser is also available to testify on your behalf to the validity of the asset appraisal should this need arise.
Why would I have a certified asset appraisal done?
There are many reasons to have a business' tangible assets appraised: to sell a business, to obtain a bank loan, to re-qualify for a loan, to affix a value for estate tax or planning purposes, etc. More often than not, an appraisal is a subset of a larger business valuation where a company's intangible assets are valued. When added together, the total value of a business can be determined.
What types of business entities can have their assets appraised?
C Corporations, S Corporations, Limited Liability Companies (LLCs), Limited Liability Partnerships (LLPs), Proprietorships, General Partnerships, Trusts, and Undivided interests
Why hire a certified asset appraiser?
A non-professional's opinion will not hold up in court, will not be recognized by the IRS, and will not withstand the scrutiny of any bank or serious buyer. You get what you pay for. Paying a professional is worth the price.
Why hire a certified asset appraiser over a dealer?
While a dealer may be knowledgeable enough to value the business assets correctly, he or she will not be able to certify to that fact on the document. This certification is needed by banks, the IRS and wanted by potential buyers.
How do I get started with my certified asset appraisal?
A signed Engagement letter is required to start your asset appraisal. Click here for more information on the asset appraisal process.
How long will it take to value the assets of my business?
The Asset portion of the business valuation may take just a few days to complete depending upon the complexity and nature of the assets being appraised. The entire valuation takes longer as the asset appraisal portion is only a sub-component of the larger business valuation.
How long is my certified asset appraisal up to date?
An asset appraisal remains valid as long as its underlying assumptions remain unchanged. When assumptions made during the completion of the initial appraisal change over time, an update should be made. Examples of changes over time include: obsolescence, excessive wear and tear, physical damage, etc.
How much will asset appraisal updates cost?
Remember the first official appraisal is the most important. Later updates will springboard off of the original and will most likely take much less time and will cost less to complete.
In what states can NBA appraise assets and value businesses?
NBA can value businesses located in any of the 50 states.
What are NBA's qualifications?
Mr. Schmidt holds a CVA designation as a certified Valuation Analyst and is a member of NACVA. He is a Certified Business Broker and as such can provide a "Broker Opinion of Value". He has industry experience selling hundreds of businesses and the ability to Value them as a Certified Business Broker. This, along with his financial background as a former CPA, makes Lance Schmidt more qualified then 99% of all valuation analysts in the industry today.