Turner Business Appraisers is your number one source for certified farm equipment appraisals. Our certified machinery and equipment appraisers are experienced with appraising all types of farm equipment and machinery with accuracy and efficiency.
We appraise farm equipment for any size farm—large, medium or small, family owned, or corporate. Our expert appraisers are experienced with appraising mowers, plows, tractors, seed drills, irrigation equipment, balers, harvesters, tillers, trailers and more. There are many reasons that you may need a farm equipment and machinery appraisal including mergers and acquisitions, sale of a practice, donations, lease termination residual values, balance sheet adjustments, tax challenges, and insurance replacement costs.
You can trust Turner Business Appraisers with your farm equipment appraisal because all of our appraisers have earned a CMEA designation from the NEBB Institute, ensuring that you receive a precise, professional and defensible appraisal. The NEBB Institute prides itself on having the highest standards so that they cultivate knowledgeable, ethical, professional appraisers who undergo extensive training and testing before earning the prestigious credential as a CMEA. All of our farm equipment appraisals are USPAP compliant and meet the SBA’s SOP requirements.
Certified Farm Equipment Appraisals in NC, SC and GA
There are three approaches to value considered when appraising your farm equipment. The first is the Market Data Approach. This approach examines recent transactions of machinery and equipment that are similar to the specific asset being appraised. Additionally, offering prices may be examined for similar pieces of equipment.
The second approach to value considered is Cost Less Depreciation which is based on using the replacement cost new and then deducting for depreciation, functional and economic obsolescence and physical deterioration. This approach is based upon the principle of substitution which states that a buyer will not pay more for an asset than what it would cost to produce a substitute asset with the same utility.
The third approach to value considered is the income approach, which examines and compares future revenue streams to determine a present value. Often this approach is difficult to implement for an equipment appraisal due to the challenges and difficulties in itemizing individual items in revenue streams. However, on occasion, certain situations may be appropriate to utilize this approach.
No matter which approach is necessary for your appraisal, the team at Turner Business Appraisers has the expertise to determine precisely the best approach for the for the purpose of your farm equipment appraisal. Our appraisers can provide fair market value estimates if you need an appraisal for acquiring pre-owned farm equipment or for the end of a lease purchase buy-out. If your plans are to sell your farm, our certified appraisers will accurately appraise your farm equipment machinery to make certain that you are not under-compensated for its true value. Many factors affect the value of farming equipment including the age and condition, whether there have been any upgrades and other matters. Team Turner will guide you through the appraisal process to ensure that you receive a reliable, accurate, timely and defensible appraisal for your farm equipment and machinery so call us today at 704-765-4820 to get started. We Value Your Business!
