Fees are based on the number
of hours required by each staff member to complete the appraisal assignment.
The fees will be different for every case and may range from $2,000 to $10,000
or more, depending on the complexity of the business entity, its capitalization
and the purpose of the valuation.
Fees are never contingent
upon the values reported.
Our quotations typically
provide estimated and "not-to-exceed" fees. We prepare estimates for services
only after we have had an initial discussion about the business and certain
information about it has been supplied.
We always confirm the fees
and the nature and scope of the assignment in a written "Letter of Agreement."
A retainer of 50% of the estimated cost of the appraisal is required as
confirmation of our "Letter of Agreement." The balance of the fee is payable
upon completion of the assignment.
The time required to
complete the work will vary in each assignment. It could be from four to five
weeks to as long as 15 or 20 weeks. A norm is perhaps six to eight weeks after
receipt of all required data.
Fees for an appraisal
report do not include preparation for, or testimony in, court proceedings. These
costs are quoted separately, but on a similar basis.