Lawyer’s Tips for Preparing for Appraisal


The appraisal is an important piece to the financing puzzle.  The price on the appraisal is the figure upon which the financial intuition bases their funding decision.  A failed appraisal could kill the deal.

  • Make sure your broker attends the appraisal.  This gives him the chance to present a neat package of all the comparables for the transaction price and show off the property.
  • Show off features of the apartment that may not be so obvious like deeded storage or a second dishwasher.  This is even more important if the appraiser is not familiar with New York City.
  • Explain negative comparables.  For example the apartment in the same line that sold for a great deal less that needed to be renovated needs to be pointed out.


From article by Jerry Feeney

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