What is the Purpose of an Appraisal?
- To obtain a professional opinion of the present fair market value of an aircraft.
- To obtain a professional opinion of the value of an aircraft to be renovated or modified.
- An expert opinion of the value of an aircraft is useful as a prudent safeguard against excessive tax assessments, capital gains and other taxes.
- Appraisals are used to verify damage claims resulting from fire, hail, windstorms, accidents and other disasters.
- An appraisal may provide the basis for decision-making in the commitment of funds for acquisition.
- Provides persuasive, independent evidence of the condition of an aircraft.
- Assists a prospective purchaser in obtaining financing or insurance.
- Assists the financial institutions by supporting the loan portfolio for examination by the loan committee and/or bank examiner.
- Distinguishes seller's aircraft from others that may be listed for sale. Should reduce time to sell aircraft by 50%