Frequently Asked CMEA Questions
from the Legal Industry
The following are some questions commonly asked by those seeking asset appraisal for legal and litigation reasons.
Why do I need an Appraisals Communique certified appraisal? Can't I just look up the book value myself? click for Answer
It's your reputation and the success of your case that is at stake. Maybe you can safely risk cutting corners and foregoing this expense, but is it worth the chance?
Not all appraisal reports are created equal! Find out what you need to know before you make a costly mistake. 99.9% of appraisal reports fail to accurately value the tangible assets. Obviously, inaccurate appraisals are not uncommon. And, more disconcertingly, they can cause serious damage to your business.
Here are the three most common malpractices:
- rely on book value; or
- rely on the word of a non-certified person who may have a "hidden" agenda.
All three methods are inaccurate and filled with liability. The report will not hold up to scrutiny because it lacks substantiation of the value.
Not only can values not be substantiated, but the Report itself is not written to reflect the approaches to value, market conditions, photographs and required substantiation that a USPAP Reports contain. USPAP (Uniform Standards of Professional Appraisal Practice) was promulgated by Congress and is accepted around the world as the authoritative source for machinery/equipment and business appraisals.
More Questions? Call Today!
Is there a problem with surface level information when it involves machinery and equipment? click for Answer
What types of reports do you deliver? click for Answer
How do you know all about all the equipment you appraise? click for Answer
How can one really know what machinery & equipment is worth? click for Answer
Are there industries and equipment that you do not appraise? click for Answer
What type of equipment do you appraise? click for Answer
What is the typical turnaround time for the preparation of a Certified Appraisal Report? click for Answer
Just what goes into a Certified Appraisal Report? click for Answer
Will a CMEA prepared report stand up to IRS and Court scrutiny? click for Answer
What are Appraisals Communique's qualifications? click for Answer
Are your appraisals USPAP compliant? click for Answer
Do you follow any code of ethics? click for Answer
How much does an appraisal cost? click for Answer
How far will you travel? click for Answer
Does Appraisals Communique provide other services? click for Answer
Will my information be kept confidential? click for Answer
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