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Summary Appraisal Report Vs. Desktop Appraisal Report

July 9, 2014

After a CMEA performs a machinery & equipment appraisal for your business, he or she will give you an appraisal report that states his or her findings and estimates. You could receive either a summary appraisal report or a desktop appraisal report, depending on the arrangements you made with your CMEA.

A summary appraisal report typically requires an on-site inspection, and details discovered during the inspection are included in the report. The report is USPAP-compliant and will express value as a single figure for each tangible asset valued. The aggregate will be reported as a single number.

If you choose a desktop appraisal report, you won’t have to incur the cost of an on-site inspection and detailed analysis. Instead, the CMEA will use pictures and equipment descriptions to determine the value.

As long as you appraisal report is conducted by a CMEA, you will know it’s fair, accurate, and defensible.

By: NEBB Institute

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