Scott H. Gallant and Associates, Inc.

• MAI and SRA member, The Appraisal Institute
• Recognized as a real estate solutions provider experienced in the analysis and valuation of commercial and residential real property.
• The Appraisal Institute is a worldwide organization dedicated to real estate appraisal education, publishing and advocacy.

• CSA-G designation
• Past member of the Board of Governors of the Columbia Society of Real Estate Appraisers, a leading regional real estate appraisal organization in New York State.

Role in the firm

Scott Gallant is the President of Scott H. Gallant and Associates, Inc. He is personally available to every client and reviews and signs every appraisal produced by the firm.

Scott Gallant is also a notary public and can notarize documents at the firm's Brooklyn office.

Commercial appraisals include:

• Large multi-tenanted residential properties (such as apartment complexes)
• Retail buildings and shopping spaces
• Industrial buildings
• Office buildings and commercial office space
• Mixed-use properties
• Community facilities

Common reasons for a commercial appraisal

Commercial appraisals are used in situations such as:

• Financing or refinancing
• Business combinations and corporate transactions
• Division of property
• Lease analysis
• Impairment analysis
• Liquidation valuation
• Valuation for financial reporting
• Determination of purchase price

Commercial assignments are performed by New York State Certified and Licensed Real Estate Appraisers experienced in analyzing and valuing income-producing properties.

Scott H. Gallant and Associates, Inc. provides residential real estate appraisals throughout New York.

Residential property types

Residential appraisals cover:

• 1–4 family houses
• Co-ops
• Condominiums
• Townhouses
• Apartments in smaller residential buildings

Common reasons for a residential appraisal

Residential appraisals are often needed when:

• Buying or selling a home
• Planning a home equity loan
• Purchasing residential investment properties
• Refinancing an existing mortgage
• Removing Private Mortgage Insurance (PMI)
• Relocating and needing a valuation for transfer or sale
• Dividing property (for example in divorce or estate matters)
• Resolving certain property tax or other tax-related issues

All residential appraisals are performed by New York State Certified or Licensed Real Estate Appraisers who follow applicable professional standards.

Specialized appraisal services

In addition to standard residential and commercial assignments, Scott H. Gallant and Associates, Inc. offers several specialized appraisal services.

PMI appraisals

Private Mortgage Insurance (PMI) is an added cost on many conventional loans when the down payment is below a certain level. A PMI appraisal can help determine a property's current market value and whether the equity level may qualify a borrower for PMI removal.

Historic (retrospective) appraisals

Historic or retrospective appraisals estimate a property's market value as of a date in the past. They are often requested for:

• Probate and estate matters
• Divorce and property division
• Other legal or financial situations where a past value is needed

Rent studies and lease analysis

Rent studies and lease analyses are commercial appraisal assignments used to estimate fair market rent for a particular property. They are commonly requested when:

• Entering into a new commercial lease
• Evaluating existing lease terms
• Analyzing rent levels for negotiations or renewals

These specialized services are performed in accordance with applicable professional appraisal standards.

What is market value?

Market value is the most probable price a property would bring in an open and competitive market in an arm's-length transaction, with both buyer and seller acting prudently and knowledgeably, and with all conditions necessary for a fair sale met. The price is assumed not to be influenced by unusual circumstances.

What is an appraisal used for?

Appraisals may be needed for many purposes, including:

• Mortgage financing
• Estate planning or estate dispositions
• Tax determinations
• Property disputes
• Market analysis for buyers or sellers
• Bankruptcy matters
• Divorce settlements and property division
• Probate proceedings
• Establishing or reviewing an offering price for sellers or purchasers

How do I find a qualified appraiser?

Key points when selecting an appraiser include:

• The appraiser should be licensed or certified by the state, which indicates required education and experience.
• A licensed or certified appraiser must conform to the Uniform Standards of Professional Appraisal Practice (USPAP) adopted by the Appraisal Standards Board of the Appraisal Foundation.
• Membership in a recognized appraisal organization, such as the Appraisal Institute, indicates additional professional standards.

Certified General Real Estate Appraiser Scott H. Gallant is an MAI and SRA member of the Appraisal Institute.

The company has been in the appraisal business since 1992. President Scott H. Gallant, MAI, SRA, CSA-G is personally available to every client and reviews and signs every appraisal.

Property types appraised

The firm completes appraisals for a wide range of property types, including:

• 1–4 family houses
• Apartments, townhouses, co-ops and condominiums
• Multi-tenanted residential complexes
• Commercial offices, office buildings and community facilities
• Retail spaces
• Industrial buildings
• Mixed-use buildings
• Vacant land
• New construction

Clients and service area

Clients include:

• Banks and mortgage companies
• Insurance companies
• Brokers
• Lawyers and judges
• State agencies
• Individuals in New York and throughout the country

Most assignments involve properties located in New York, including the five boroughs of New York City.

Office location and contact details

• Address: 455 13th St, Brooklyn, NY 11215 (Park Slope neighborhood)
• Phone: 718-789-2332
• Email: scott@scotthgallant.com

For a free fee quote, clients are invited to call the office or send an email.

Notary services

Scott Gallant is also a notary public and can notarize documents at the office location.

• Banks and savings banks
• Mortgage companies and apartment lenders
• Insurance and title insurance companies
• Government and public agencies
• Courts and legal professionals
• Individuals and private property owners

Representative institutional clients

Representative institutional clients listed by the firm include (among others):

• ABN-AMRO Apartment Lending
• Astoria Federal Savings Bank
• Bank One
• Bank of New York
• Brooklyn Federal Savings Bank
• Chicago Title
• Emigrant Funding Corp.
• Emigrant Mortgage Company
• Fidelity National Title
• Flushing Savings Bank
• FNMA
• Fleet Bank
• Greenpoint Mortgage
• IndyMac Bank
• JP Morgan/Chase
• Manhattan Mortgage
• M&T Mortgage
• NY Mortgage
• NYC Housing Authority
• NYS Office of Mental Retardation and Developmental Disabilities
• NYS Supreme Court – Matrimonial Division
• North Fork Bank
• Norwest
• Ridgewood Savings Bank
• Washington Mutual
• Wells Fargo

This list is illustrative of the types of institutions and entities that have engaged the firm for appraisal services.

Expert witness services can include providing appraisal-based testimony in cases involving:

• Eminent domain and zoning
• Condemnation
• Divorce and property division
• Probate and estate matters
• Corporate valuations
• Property tax disputes
• Bankruptcy matters
• Title insurance issues

Courts and jurisdictions

Scott Gallant is noted as a qualified Expert Witness for the State of New York in Kings County and New York County.

Expert witness assignments are supported by formal appraisal analyses and prepared in line with relevant professional standards.

Ask anyway — the agent will say plainly that it is not published rather than guess.