How Long Does It Take To Do A Machinery & Equipment Asset Appraisal?
Quantity & Size = Time
The time it takes to complete an appraisal is directly proportional to the quantity of assets and physical size of the location.
A small company with about 15,000 square feet of floor space may take a day or so to complete the on-site inspection and about 5 to 7 days of research and time to assemble the appraisal document.
Larger companies having considerably more square feet and maybe one or more locations will require a longer on-site inspection time and about 7 or more days of research and time to assemble the appraisal document.
Reviewing Time Requirements
Red Stripe, Inc. looks at each appraisal application, considers the scope of work to be done and will work with you or your client to determine the amount of time necessary to complete the on-site appraisal inspection and to complete the appraisal document.
With forty-three years of experience in manufacturing and seventeen years as a full time M&E Appraiser, we have the experience, and understand the intricacies of equipment appraisals and personal property appraisals.
Do I need a Desktop Appraisal or an On-Site Inspection?
About Desktop Appraisals
A Desktop Appraisal is developed without the appraiser having the benefit of visually inspecting the assets at your location (on-site.)
The appraiser must assume that the information provided is accurate, complete, and unbiased.
What situations justify a desktop appraisal?
- When a small amount of standard or well known types of assets do not justify the cost of an on-site inspection
- When travel cost are prohibitive
- When the values are needed quickly
- When the assets are not of a unique design or of a specialized nature.
- When the information supplied by the company is accurate and up-to-date
About On-Site Inspection Appraisals
The benefit of an On-Site appraisal for machinery and equipment is that the appraiser who inspects the assets has the benefit of:
- Physically inspecting the assets.
- Documenting that the assets do exist, including photographs.
- Collecting pertinent information that is complete and accurate.
- Making a determination that the assets are properly maintained and/or in good working order.
- Confirming that the assets are being used in accordance to their original design or have been modified.
- Interviewing maintenance personnel and or management regarding the assets.