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3 Tips Before Getting a Construction Equipment Appraisal

A machinery and construction equipment appraisal is most commonly used to best determine the accurate value of your piece of equipment. To get a fixed asset, you will need the year, make, model, serial number, and maintenance schedule.

When you schedule an equipment appraisal for your construction equipment, whether you have a large crane, cement mixer, or saw, the appraiser will come to your business to review the item. Below are several things recommended to prepare yourself for your appraisal.

Find Equipment Records

The appraiser is going to need to know where and when you purchased the equipment, the ways you have maintained it, and how it has been used. When you keep track of records on your equipment ahead of time, you can give the equipment appraiser accurate information. This is very helpful so you are not having to guess. This could also vary the value of your construction equipment.

Schedule the Appraisal

Appraisers know that requiring appraisals at times can be personal. Good appraisers know just what to say when they are confronted by employees with questions. Depending on the context of the situation, appraisals need to be done at off times rather than the middle of the day.

Prepare Yourself

The appraisal will be a much easier and faster experience when you better prepare yourself before the designated time.

This could consist of going over all of your equipment specifics or looking over maintenance records. You will be able to discuss properly how equipment is treated and maintained at your construction company. In the sales methods, an appraiser will determine the value by researching on the market for similar equipment. They will also make adjustments for the age, condition, and other varying factors. Every extra piece of information or records you can provide is going to make the review and evaluation go by so much easier and faster.

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