Personal Property Appraisals
Do you or your client need to obtain a loan on your business inventory, buying or selling a business and need a market value of the inventory or transferring personal property assets to the next generation for Estate Taxes purposes?
If so, we can assist you with a certified personal property appraisal
Special Areas of Interest Include:
- Internal Revenue Service appraisal requirements
- Estate and Gift Appraisals
- Charitable Donation Appraisals
- Bankruptcy Appraisals
- Insurance Appraisals
- Loan And Renewal Appraisals
- Divorce Situation Appraisals
- Court Appraisals
- Casualty Loss Appraisals
Reasons for an Appraisal:
An appraisal is a method for establishing value on a number of levels. It may also be used as a comprehensive asset list which satisfies the requirements of numerous institutions. Banks, other lending concerns, consultants, financiers, public companies, insurance companies and the courts all have need for appraisals to justify, lend credibility and aid in decision making and record keeping.
Specific Uses for an Appraisal
An appraisal is essentially an assurance to these organizations that a company’s assets have a certain estimable value. This information may be required in order to obtain loan financing or to arrange an acquisition, merger or sell-off. In other circumstances, it is used to settle court matters or arrange buy outs.
Major Types of Valuations: Each appraisal dictates the type of valuation required. Some Situations may demand more than one type.
FAIR MARKET VALUE
Under the United States Treasury regulation 1.170-1(c) Fair Market Value is defined as: The price at which the property would change hands when there was a financial situation existing at the time of the sale so as to require a sacrifice.
The price at which the property would change hands when a financial situation exists at the time of the sale so as to require a sacrifice.
IN PLANT VALUATION
The value of the appraised property to one who will use the property in the particular location without removal.
The value of the appraised items as the items were at the time of the loss taking into consideration the item’s condition and useful life.
REPLACEMENT COST (NEW)
The cost to replace the appraised items in new condition in the open market.
Grenada, MS 38901
Fax : 1.662.227.1653