Staff Appraisers for Asset-Based Lenders: A Logical Extension

Most experienced auditors employed by asset-based lenders are well qualified to evaluate receivables, analyze financial results, and, sometimes, perform a thorough inventory analysis. To achieve at this analysis, the auditor must contact industry sources, liquidators, auctioneers, and others in an a...

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Bibliographic Details
Published in:The Secured lender 1989-01, Vol.45 (1), p.30
Main Author: O'Connell, J Brian
Format: Article
Language:English
Subjects:
Appraisals
Appraisers
Collateral
Credit investigation
Lenders
Security interests
Online Access:Get full text
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Summary:Most experienced auditors employed by asset-based lenders are well qualified to evaluate receivables, analyze financial results, and, sometimes, perform a thorough inventory analysis. To achieve at this analysis, the auditor must contact industry sources, liquidators, auctioneers, and others in an attempt to reach a realistic liquidation value. This is one area where a staff appraiser could help. Machinery and equipment appraisals can vary in value between appraisers. A staff appraiser offers a comfort level by having the same appraiser appraise the same collateral, using the same value concept as on the original. In real estate, should an obvious environmental infraction exist, a staff appraiser would be less likely to ignore the problem. A lender with an in-house appraisal department has a distinct advantage. The appraiser is always available and can be used as a marketing tool. However, development of an in-house appraisal department can be costly and time consuming.
ISSN:0888-255X