To hire a qualified valuation expert:
Credentials: Look for USPAP-compliant experts with certifications such as ASA, CVA, CBA, ABV, or AICPA accreditation.
Cost: Uncertified valuations range from $2.5k–$5k, while certified valuations range from $5k–$30k.
Caution: Avoid appraisers who give overly optimistic valuations to secure your business, only to lower them during the actual sale.
The American Society of Appraisers can be a good source for finding appraisers or valuation experts. Additionally, you can find an appraiser from the Zolidar Community Directory or ask for recommendations on the Zolidar Community Forum.
Qualified appraises comply with Uniform Standards of Professional Appraisal Practice (USPAP). It's advisable to look for a valuation expert with at least one of the following certifications: Accredited Senior Appraiser (ASA), Certified Valuation Analyst (CVA), Certified Business Appraiser (CBA), Accredited in Business Valuation (ABV). Some experts have accreditation from American Institute of Certified Public Accountants (AICPA).
Uncertified valuations can cost between $2.5k and $5k, while certified valuations can cost between $5k to $30k.
Business owners should be mindful of advisors who provide over-optimistic appraisals initially to engage them, and later assign a more realistic lower value for the actual sale transaction.
