TYPES OF APPRAISALS
The type of appraisal you need depends on the particular type of business valuation required. Different situations call for different kinds of appraisals.
Fair Market Value (FMV) Appraisal
Fair Market Value: The price at which property would change hands between a willing buyer and a willing seller; neither being under the compulsion to buy or a compulsion to sell, and both having reasonable knowledge of relevant facts. Some factors involved in Fair Market Value of assets involve the supply and demand, condition, age, availability, restorative and/or mechanical improvements, and previous comparable sales.
Liquidation Value (LV) Appraisal
Liquidation Value: The price at which the property would change hands when there is a financial situation or other circumstance existing at the time of sale so as to require a sacrifice, e.g. demand from a financial institution to liquidate, bankruptcy, instant need for cash flow, overstocked, low demand, recession.
Going Concern Value (GCV) Appraisal
Going Concern Value: The value obtainable for the assets through private negotiators
between a willing buyer and a willing seller on a total entity basis in order to
continue operations in place over an acceptable period of time. Some factors involved
in Going Concern Value are: all assets relative to the business including stock
supplies, condition and age of assets, cash flow. This is based on previous financial
records, a solid plan for a willing buyer to re-
Market Value In Place (MVIP) Appraisal
Market Value In Place: A professional opinion of the estimated value to be realized
for the property; as installed for intended use in an exchange between a willing
buyer and willing seller; neither being under the compulsion to buy or the compulsion
to sell, with both parties aware of the relevant facts as of the effective date of
the appraisal. Note: MVIP does not normally take into consideration leasehold improvements,
unless they are specifically related to a function of a particular piece of equipment.
ENHANCED VALUE -
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