Appraising Your NYC Property: How to Do It?

Selling your home is the culmination of your stay in the Big Apple. But it's important to know how much it should sell for in today's market. You've lived there for so long and your goal is to make sure you seal a favorable (and profitable) deal.

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But things don't always go the way you want them. As much as you want to sell your NYC property for the highest price, you could end up scaring buyers away. You also risk overvaluing your home when it's not actually in the best possible shape compared to other properties on the market.

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Once you accept an offer from a buyer, they will be hiring a property appraiser to make sure your NYC home deserves the price it's selling for.?

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The appraiser can’t modify their report on your property. Once it's submitted to the buyer's lender, you can’t do anything to jack up the price. But there are a few things you can do to make sure you end up getting a fair deal.?

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Whether you're selling a condo or a townhouse, keep these in mind so you can close near the contract price!

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1. Make repairs to your property

One reason why the appraisal report turns out low is that there are structural and aesthetic issues that were left unaddressed. Missing tiles, cracked windows, and water damage in the ceiling reflect badly on the report. You can't do anything about this except to bring the price down, but you could prevent this simply by doing a home inspection and investing in repairs and upgrades.?

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2. Deal with minor eye sores

Even if your NYC property is in the best possible shape, an appraiser will still take not even the smallest issues that will result in an unfavorable report. A faded paint job in your living room and punctured ceilings won't make the property less livable, but they prompt the appraiser into believing otherwise. So, even if you think these tiny eye sores are worth looking over, fixing them will certainly result in a favorable appraisal.?

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3. Keep everything prim and proper

Presentation is everything if you want the appraisal to turn out in your favor. Aside from making simple fixes, it's also important to freshen up your living space by doing a deep clean. Change the curtains and declutter areas like the living room and bedroom of any personal items. You should also make sure your floors are spic and span as these speak volumes about the actual condition of your property.

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4. Provide detailed info

The appraiser won't rely entirely on an on-site visit to assess the property. You will need to provide them with information not just about the property's features but also the neighborhood where it's located. The documents you prepare should also include comparable prices in the same area and a summary of the improvements you've made. Doing this will make the appraisal process faster and easier on top of ensuring a fair market price for your home.

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A property appraisal is not the only hurdle you will need to overcome if you plan on selling your NYC property. There are many more steps and unless you get professional help, you could get lost in the thick of it!

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If you're looking for one to help you sell your NYC property, I'm up for the job! Call me at?917-627-5677?or send an email to?[email protected]?so we can talk about your real estate goals this year and the next!

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Talk soon,

Eli