The type of work product needed usually depends on the purpose of the appraisal. If the purpose is to get an idea of value for the purposes of buying or selling, a verbal opinion of value or a summary report may suffice. If the value conclusion may be reviewed or questioned by the IRS or an opposing attorney, a fully detailed report is most likely in order. Southland Business Group offers three general types of work products.

The Buyer/Seller Consultation

In a "Buyer/Seller Consultation," Southland Business Group will analyze the financial facts about the business; conduct an interview with a person knowledgeable about it to gain an understanding about its operations and finances; and provide a verbal opinion of value. There is no written report. At the time we present the value conclusion, we will give the client an opportunity to ask questions about the value. The "Buyer/Seller Consultation" is quoted on a flat fee basis and is based on a limited number of hours to complete the assignment.

Summary Report

A summary report summarizes the research and analysis performed during the valuation process. Data is presented in an abbreviated format and presents only the key facts about the business and the reasoning supporting the value conclusion. The analysis includes consideration of each of the elements of closely held businesses required by the IRS and Courts. The cost of a summary report is typically about 15% less than for a fully detailed report.

Fully Detailed Report

The fully detailed report is the most comprehensive level of service offered. It presents a thorough description of our research and fully documents the entire valuation process. A fully detailed report discusses all the requirements of closely held businesses mandated by the IRS and the Courts.
For appraisals in which litigation is involved, Southland Business Group will provide testimony only after doing careful and thorough research.