About Heavy Equipment Appraisal
Heavy Equipment Appraisal prepares USPAP-compliant machinery and equipment appraisals nationwide for lenders, attorneys, CPAs, insurers, owners, buyers, and sellers.
What is Heavy Equipment Appraisal?
Heavy Equipment Appraisal is a U.S. machinery and equipment valuation firm founded in 2009 by Rhett Crites, CMEA, CAGA. The firm prepares USPAP-compliant heavy equipment appraisal reports for lenders, SBA reviewers, attorneys, CPAs, insurers, business owners, buyers, and sellers.
Recent files include:
- On-site appraisal of approximately 150 trucks, trailers, loaders, and tractors for a partner buyout at Halo Services, Inc. in New Mexico, shared with the owners’ attorney, accountant, and lenders.
- Rush on-site appraisal of a 100-plus-unit excavation fleet for an SBA loan closed through Community Reinvestment Fund after the SBA rejected a prior desktop review.
- Desktop appraisal of approximately 90 pieces of equipment and trucks for a community-bank loan modification, with collateral coverage of roughly 300% of the loan amount.
- Series of desktop appraisals on landfill compactors and a dozer for the White County, Tennessee Solid Waste Committee, used to keep a Bomag compactor purchase within Tennessee’s 5% price tolerance under the Tennessee Code Annotated.
Who Runs the Appraisal Work?
Heavy Equipment Appraisal is led by founder Rhett Crites, CMEA, CAGA, who is responsible for all appraisal analysis, market research, scope decisions, and report conclusions. Tracie Crites, Chief Marketing Officer, has led the firm’s brand and client education work since 2009.
Before founding HeavyEquipmentAppraisal.com in 2009, Rhett earned a computer science degree and spent eleven years as a software engineer at Northrop Grumman.
Tracie’s brand work focuses on the firm’s independence. Heavy Equipment Appraisal does not buy, sell, broker, or auction equipment.
What Does the Firm Appraise?
Heavy Equipment Appraisal values machinery and equipment used in construction, transportation, agriculture, oil and gas, manufacturing, mining, and municipal operations. Typical assets include excavators, bulldozers, skid steers, cranes, dump trucks, semi-trucks, forklifts, tractors, oilfield equipment, and specialty machines such as dredge barges and landfill compactors.
For a fuller breakdown by equipment type, see Heavy Equipment Types.
What Kinds of Assignments Has the Firm Handled?
Heavy Equipment Appraisal’s case results span SBA and commercial lending, partner buyouts and turnaround support, charitable contribution and tax matters, and municipal equipment procurement. Recent files include:
- On-site appraisal of approximately 150 trucks, trailers, loaders, tractors, and lifts for a partner buyout at Halo Services, Inc. in New Mexico, shared with the owners’ attorney, accountant, and lenders.
- Rush on-site appraisal of a 100-plus-unit excavation fleet for an SBA loan closed through Community Reinvestment Fund after the SBA rejected a prior desktop review.
- Desktop appraisal of approximately 90 pieces of equipment and trucks for a community-bank loan modification, with collateral coverage of roughly 300% of the loan amount.
- Desktop appraisal of a 2007 Case 580M II loader-backhoe for a like-kind charitable contribution to a religious non-profit, documented on IRS Form 8283.
- Series of desktop appraisals on landfill compactors and a dozer for the White County, Tennessee Solid Waste Committee, used to keep a Bomag compactor purchase within Tennessee’s 5% price tolerance under the Tennessee Code Annotated.
- On-site specialty-equipment appraisal of a 330 Ammco dredge barge for Carder, Inc. near Lamar, Colorado, inspected by boat.
What Credentials and Standards Back the Reports?
Heavy Equipment Appraisal reports are prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), published by The Appraisal Foundation, and signed by Rhett Crites, CMEA, CAGA. Rhett holds the Certified Machinery and Equipment Appraiser (CMEA) designation through NEBB Institute and the CAGA designation from the Certified Appraisers Guild of America.
For full credential history and continuing education, see Credentials / Qualifications.
How Do I Start an Appraisal?
To request an appraisal, submit the equipment list and intended use through the quote form, or call (844) 825-8283. Heavy Equipment Appraisal will confirm scope, fee, and turnaround within one business day.