Types of Appraisals
DFB&A offers several types of appraisals. Each is developed to fit your particular need. Railroad equipment has a very narrow market, the value of which is effected by national economic conditions and demands for that specific equipment. A summary appraisal would be appropriate for most requirements you may encounter. If, at a later time, you need more documentation we can expand the report. We will be happy to provide a cost estimate for your appraisal. It is a cost estimate only and should not be viewed as a bid. Work will be accomplished on a time and material basis. (Bids are accepted only by separate correspondence where work to be accomplished is precisely identified.) Developing a good appraisal takes substantial time and effort, nevertheless, our company will do everything possible to keep the cost to a minimum. Should you have additional questions, please call.     

Sometimes referred to as a Market Analysis Report, this is an estimate of value based on a limited physical inspection or a study of photographs, data sheets, inspection reports, etc., plus comparable sales of similar equipment. (In some cases, customer supplied photos and data sheets may be used in order to develop the values.) The documentation is a letter listing the property and stating the estimated values plus qualifications of the consultants. This is usually sufficient for preliminary financial planning purposes, small loans, small equipment donations, insurance, etc.

Our most popular appraisal service is the Summary (or Abbreviated Appraisal) Report. It is based on an on-site inspection, plus a study of current photographs, data sheets, inspection reports, current configuration, comparable equipment sales, history of the equipment, etc.. The final report includes equipment history, discussion and observations, and best use. Color photographs and data sheets are also included in an abbreviated report. A booklet is provided that includes sufficient documentation, photographs and logic to substantiate the findings. This report is normally sufficient for bank loans, major equipment donations, insurance packaging, financial planning, simple estate situations, etc.

Our Standard Appraisal is developed utilizing techniques similar to those used to create our Abbreviated evaluation except that the report is much more comprehensive. The Comprehensive Report is based on an in-depth technical inspection of the equipment. Equipment history, observations, best use (continued, removed, and cost estimates) may be included in this service. Color photographs, data sheets, comparable sales (if available), etc. are also included in the report. A Comprehensive Appraisal Report in book form is provided. The Comprehensive Appraisal Report will be a document similar in form to a detailed real estate appraisal. This appraisal is usually suitable for court, IRS, legal, estate, or corporate transactions. The purpose of the appraisal will determine the extent of documentation required.