What we need
What we need to start
The turnaround clock starts when all required information is received. Complete files are delivered fastest.
Equipment
Desktop equipment appraisal
- Asset list with make, model, serial number or VIN, year, quantity and location. Excel is best.
- Hours or mileage for engines, vehicles and heavy equipment.
- Photos of each major asset: the overall unit, the data plate, the hour meter and any damage.
- Ownership. Mark items that are leased, financed, rented or owned by someone else. Include lease schedules.
- Condition notes: recent rebuilds, repairs, items out of service.
- The assignment: intended use, intended users, premises of value requested and the effective date.
Equipment
Appraisal with a site visit
- Everything listed for a desktop appraisal.
- A site contact, the address and access hours.
- Safety requirements for the site, if any.
- Equipment is viewed on site. It is not operated or tested.
Business
Business valuation
- Three to five years of financial statements and tax returns, plus year-to-date interim statements.
- Fixed asset register and depreciation schedule.
- Accounts receivable and payable aging, and a debt schedule.
- Ownership structure, and owner compensation and benefits.
- For an acquisition: the letter of intent or purchase agreement.
- Real estate and equipment leases.
- A short description of operations, key customers and key employees.
Sending files
How to send it
Use the request form for files up to 8 MB in total. For larger files, send a Dropbox, Google Drive or OneDrive link, or email value@gearandgoodwill.com.
Missing items are listed in our reply. The delivery date in the engagement letter runs from the day the file is complete.
Questions
Common questions
When does the turnaround clock start?
When all required information is received. Missing items are listed in our reply so the file can be completed quickly.
Can you work from an incomplete asset list?
Sometimes. Gaps are handled with stated assumptions, which a lender may not accept. A complete list gives a more reliable value.
Do you need photos for a desktop appraisal?
Yes. Photos of each major asset, its data plate and its hour meter are the basis for identification and condition in a desktop appraisal.
Have an assignment?
Send the asset list or company name and the intended use. You will get scope, fee and timing back by email, the same business day.