Appraisers Blog

AUGUST 4, 2023

An appraiser used to routinely post that the appraisal and most underwriting activities are meaningless anyways, the lended amount hardly matters, they have shifted models to primarily qualify the borrowers income, most of the downstream activity after that is moot. Gift me more equity or else. Everything is not what it seems.

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Appraisal Equity Marketability 66

Chris Mercer

MARCH 29, 2024

Introduction and Conclusion My musings on the use of restricted stock discounts to estimate marketability discounts (or DLOMs) have led me to the conclusion: Restricted stock studies/discounts cannot be used to estimate DLOMs in any credible, standards-compliant manner. Three of the first four Mercer’s Musings posts address this issue.

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Marketability Appraisal Business Valuation Dividends 52

BV Specialists

MAY 6, 2024

One of the most essential steps in the selling process is to obtain an independent valuation of your company so you can understand the fair market value of the business as a whole, as well as the underlying tangible assets and goodwill. Make sure you discuss their credentials before moving forward.

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Fair Market Value Appraisal EBITDA Equity 77

Startup Valuation Blog

NOVEMBER 16, 2021

According to Equitest's Review on techozens.com - Equitest is: "The Best & Trusted Business Appraisal Software for Startups, CPA". As the name suggests Equitest is an intuitive valuation software that makes the equity valuation process simple and affordable for businesses, startups, and professionals. Affordable Price.

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Appraisal Business Valuation Discounted Cash Flow Start-ups 100

Chris Mercer

MARCH 8, 2023

This post provides a discussion of several implications of the definition of the standard of value known as fair market value. We focus first on the definition of fair market value. We then look at the implications for the so-called “marketability discount for controlling interests.”

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Fair Market Value Marketability Appraisal Business Valuation 52

Peak Business Valuation

MAY 16, 2024

As a business appraiser , we help thousands of small businesses across the country. To finance these activities, you can sell equity ownership or take on debt. For more information, see Debt vs. Equity Financing. The SBA lender gains a clear understanding of where the business stands in terms of its market value.

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Business Valuation Appraisal Finance Debt Financing 52

Appraisers Blog

JULY 6, 2023

One faucet of the affordability problem, government sellers have multiple motivations to sell low to investors whom capture all the savings then resell high in the open market or hold indefinitely as rentals. One can’t throw a stick in residential housing without crossing a corporate rental offering.

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Equity Marketability Appraisal Compliance 59

Appraisers Blog

SEPTEMBER 7, 2022

And just like that, real estate appraisers from across the country have now added a new line item to their résumés, websites and marketing material: RESTORATION VALUE MAGICIAN. NAR Report Paints a Different Picture The study also shows the appraisal was the LOWEST scored item on the list of discriminatory practices.

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Appraisal Equity Marketability 76

IVSC

OCTOBER 21, 2023

Nygard oversees a staff of appraisers and real estate analysts who review and perform Market Value Appraisals worldwide as well as conduct various analyses including Lease – Purchase, Lease vs. Buy and Fair Market Rent Analyses. The resultant facilities often differ quite a bit physically from market norms.

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Appraisal Marketability Technology Start-ups 246

Appraisers Blog

FEBRUARY 28, 2023

NPR topped the online edition of its article with the headline, “Black and Latino Homeowners are About Twice as Likely as Whites To Get Low Appraisals.” Freddie never called the appraisals “low.” The problem? While the Freddie Mac study finds no evidence of undervaluation, the NPR story about the study somehow does.

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Appraisal Equity Finance Marketability 70

Farrel Fritz

AUGUST 14, 2023

The authors of this blog have a special affinity for fair value appraisal proceedings. Any miscalculation on methodology, assumptions, normalizations, or any of the countless factors that business appraisers consider can produce a major swing in valuation. 650771/2021 (Sup Ct, NY County 2023).

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Appraisal Fair Market Value Excess Earnings Method Discounted Cash Flow 52

Appraisers Blog

JULY 6, 2023

Don’t worry about the issue too much, but thank you for trying to better represent the appraiser community. “If those homes are appraised the way that they should be Laura, then we look at being able to pass down, significantly, more resources, and more wealth, to generations that follow.”

Equity 64

Equity Appraisal Banking Marketability 64

IVSC

JANUARY 26, 2022

Johnnie White CEO, American Society of Appraisers. We spoke to ASA Chief Executive, Johnnie White, to find out more about his vision for the future of the appraisal profession… How has your career to date led you to the role you have now? As CEO, I interact with appraisers and allied professionals daily.

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Appraisal Business Valuation Technology Intangible Assets 246

Chris Mercer

APRIL 7, 2023

My most recent post, titled Fair Market Value and the Nonexistent Marketability Discount , generated quite a discussion when posted on LinkedIn. The post provided a solid rationale that there is no such thing as a marketability discount for controlling interests of companies. ” (p.

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Marketability Fair Market Value Appraisal EBITDA 52

Appraisers Blog

NOVEMBER 15, 2022

The ranks of the new DEI bosses at the financial institutions are no more diverse than the appraisers their institutions see as the enemy. If the lack of diversity of appraisers is inherently bad, how could the same not be said for the DEI bosses? The post Top DEI Bosses Have a Problem – Diversity appeared on Appraisers Blogs.

Appraisal 71

Appraisal Equity Finance Banking 71

Chris Mercer

FEBRUARY 8, 2024

This first musing relates to the need (or not) to comply with the Uniform Standards of Professional Appraisal Practice promulgated by The Appraisal Foundation in gift and estate tax appraisals prepared for the Internal Revenue Service. Regarding business appraisers, I cannot find a direct requirement that USPAP be followed.

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Appraisal Business Valuation Business Enterprise Dividends 52

IVSC

SEPTEMBER 14, 2022

Nicholas brings three decades of capital markets, corporate finance and valuation experience and will lead the IVSC’s growth across the region, with a focus on business valuation and intangibles. Nicolas is a Chartered Financial Analyst (CFA) and a Chartered Valuer and Appraiser (CVA).

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Intangible Assets Corporate Finance Finance Banking 130

Benzinga

APRIL 15, 2024

The acquisition price includes $279 million (£220 million) of appraised real estate value. (NYSE: GPI ) disclosed a deal to buy the U.K. automotive retailing business and related owned real estate from a subsidiary of Inchcape PLC (OTC: IHCPF ) for around $439 million (£346 million) in an all-cash transaction. In 2023, the Inchcape U.K.

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Marketability Appraisal Equity 52

Appraisal Rights

MARCH 6, 2019

As in other jurisdictions, there are in Mexico a number of corporate agreements or resolutions that may affect, in whole or in part, directly or indirectly, a certain group of equity holders. This group is usually defined as the one that has a smaller equity participation when compared with the controlling shareholders.

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Appraisal Equity Dividends Banking 52

BV Specialists

JUNE 19, 2023

We receive several valuation inquiries every year from companies still in their infancy stages that are looking to attract new investment through private equity or by bringing in additional partners with the right talent to help them achieve their goals.

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Start-ups Appraisal Equity Technology 87

Farrel Fritz

JULY 25, 2022

The topic of mergers between two business entities designed to involuntarily extinguish the equity interest of a minority owner in exchange for cash is one of our favorites on New York Business Divorce. You can read the legal briefs in the appraisal case here , here , and here , and in the rescission case here , here , and here.

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Appraisal Equity Fair Market Value Marketability 52

Appraisers Blog

JULY 26, 2023

It’s all about risk vs returns and the rising mortgage rates are a reflection of pending market instability. And those defaults would have already had a downward pull on general market values. Rather, this is now shuffled through in the back ground, aka; artificially propping up the housing market. First Look programs?

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Start-ups Appraisal Marketability Equity 57

Appraiser Newsroom

MARCH 20, 2024

Josh Putnam | Ernst & Young LLP Business valuation professional with extensive experience in the valuation of the business enterprise, equity and intangible assets. Industry sectors include Media & Entertainment, Retail and Consumer Products and Private Equity.

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Intangible Assets Compliance Equity Finance 52

Chris Mercer

MARCH 7, 2024

” And the answer holds regardless of any certifications appraisers might hold. Procedural Guidelines (PG) are designed to provide more detailed guidance for consideration by business appraisers than found in the base standards themselves. Every appraisal must have a stated purpose and definition of the valuation (i.e.,

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Dividends Appraisal Terminal Value Marketability 52

Appraisal Rights

AUGUST 7, 2019

The value of the holding is established by the directors, having obtained the opinion of the board, of statutory auditors as well as the legal auditor of accounts and is established taking account: of the company’s equity ; of its income producing prospects ; as well as. any market value it may have.

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Appraisal Book Value Equity Marketability 52

Appraisers Blog

AUGUST 14, 2023

Same old activity, now rebranded with an illusionary justification of bringing equity in lending under the illusionary premise the appraisers are responsible for equity differences in housing by race. They need to define value in use vs value in market, and prioritize one over the other. aka; predatory lending.

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Start-ups Equity Appraisal Marketability 57

Appraisal Rights

JULY 27, 2017

As we have previously covered , Delaware has been considering whether to allow Delaware corporations (with Delaware being the site of the vast majority of appraisal litigation) to use blockchain platforms to issue and trade shares. Multiple decisions in the Dell case put the potential relevance of blockchain to appraisal in focus.

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Appraisal Equity Marketability Technology 52

Chris Mercer

JULY 15, 2022

Business appraisers routinely use the discounted cash flow model to value entire businesses. Deja Vu #9: Pre-IPO Discounts Do Not Provide Valid Evidence for Marketability Discounts. These cash flows are discounted to the present at an appropriate discount rate and equity value is determined.

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Discounted Cash Flow Terminal Value Dividends Appraisal 52

Appraisers Blog

AUGUST 15, 2023

I hate when I see someone discuss the impact of “LOW Appraisals” NO! It is the market value for the property in question… just because it falls below the sales price it is not a LOW Appraisal. People don’t get this fact.

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Appraisal Banking Equity Marketability 50

Equilest

FEBRUARY 1, 2023

A 409A valuation is an independent assessment of the fair market value of the common stock of a privately held company. The valuation is used for tax purposes, specifically for determining the value of stock options and other forms of equity compensation that are granted to employees, directors, and other service providers.

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Business Valuation Appraisal Fair Market Value Equity 40

Peak Business Valuation

JANUARY 10, 2024

Peak Business Valuation , business appraiser, is happy to help! As a professional business appraiser, Peak values thousands of businesses throughout the country. Valuation of Intangible Assets Next, business appraisers will value the business’s intangible assets. Peak Business Valuation , business appraiser, is happy to help!

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Intangible Assets Business Valuation Fair Market Value Appraisal 52

Appraisal Rights

JULY 25, 2018

Does appraisal arbitrage create costly uncertainty for a putative corporate buyer? In The Cost of Appraisal Rights: How to Restore Certainty in Delaware Mergers , 52 Ga. First, a legislative change to the appraisal holding requirement is proposed: require appraisal seeking shares to be continuously held from the record date.

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Appraisal Equity Marketability 40

Appraisal Rights

DECEMBER 12, 2019

One of the instrumental rights corporate statutes bestow upon shareholders is the appraisal right. Whether these rules offer adequate alternatives to the appraisal right is an empirical question that may remain unanswered for a while due to the newness of the Law, and the absence of this remedy’s effects on real cases, yet.

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Appraisal Banking Compliance Equity 52

Appraisers Blog

AUGUST 16, 2023

The other day I observed a listing which stated; ‘Purchase this home to receive instant equity.’ ’ The word equity has taken on strange new meaning which extend beyond the traditional financial aspect such as ones loan to value ratio, now to include the optional concern for value in use.

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Appraisal Equity Marketability Banking 53

Chris Mercer

NOVEMBER 15, 2022

Atticus Frank will present tomorrow and talk about why market multiples differ between and among industries. I have heard many appraisers suggest that one should not normalize owner compensation when valuing minority interests “because the minority shareholder cannot change compensation.” million, no cash, and no debt.

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Business Valuation Normalized Earnings EBITDA Appraisal 52

Appraiser Newsroom

OCTOBER 26, 2023

In keeping the tradition of providing the highest-level of education for appraisal experts, this year’s conference featured more than 75 sessions of the most comprehensive educational programming available taught by preeminent thought-leaders from all appraisal disciplines. Next Schwartz announced the Real Property Awards winners.

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Appraisal Business Valuation Equity Marketability 52

IVSC

JUNE 12, 2023

In 2011, Carla completed a one-year rotation in Kroll's London office, where she promoted the firm's IFRS education efforts and marketing initiatives, and dealt with IFRS implementation issues. She set up American Appraisal Singapore operations in 2012, which later got acquired by Duff & Phelps which has now been rebranded as Kroll.

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Risk-free Rate Intangible Assets Appraisal Business Valuation 130