Checklist: Documentation needed for Post-Casualty Loss/Event Appraisal 

If the property sustained minor damage or is not considered a total loss, the following documentation will be needed in order to accurately value the subject property after the casualty loss/event. This assumes the appraiser is also conducting a pre casualty loss/event appraisal on the subject property as this information will be needed when performing the post casualty loss/event appraisal assignment. If the appraiser is not also performing the pre casualty loss/event appraisal assignment, the client will need to provide sufficient property details as referenced in the Checklist: Documentation needed for Pre-Casualty Loss/Event Appraisal link in this website. 

 

Property Documentation – For properties that received minor damage or are not considered to be a total loss, the appraiser will need to obtain the following information below from the client.

  

Damage Assessment and Repair Estimates

 

• Damage Description: A detailed written description of the damages, including which parts of the property were completely destroyed and need to be replaced and which were partially damaged or can be repaired.

• Repair Estimates: Copies of any repair estimates or bids from contractors detailing the scope of work required to repair or rebuild the property and return it to its original state just prior to the Casualty Loss/event. This includes estimates/bids for the affected improvements as well as any affected landscaping. Items considered to be personal property are NOT considered in the estimate(s)/bid(s). Personal items are considered a separate casualty loss from personally owned real estate. NOTE: IRS Casualty Loss guidelines require the appraiser to factor in depreciation when the cost to repair or replace certain damaged and/or destroyed older material(s) with brand new material(s). 

 

Total Loss Documentation – Properties that have received significant damage or are considered to be a total loss (no contributory value of existing improvements), the property will be appraised as vacant land or site value only. Any costs needed to remediate the lot(s)/site(s) containing significantly damaged or totally damaged improvements above and beyond what site remediation is covered for free by the Government-Sponsored Debris Removal Program, may be considered a factor in determining the post casualty loss event value. This determination will be assessed on a case-by-case basis.

 

• Third-Party Source(s): If applicable, provide contact details for any other individuals or entities (e.g., builder/contractor, engineer, etc.) who may be able to assist the appraiser by providing further details about the subject property’s current state of disrepair and/or any site related issues that may have an impact on the post casualty loss/event value.