Appraisals
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I wanted to post a question, and the following is some information which I think is necessary to know first. We are a small, 15 unit brownstone coop building and are considering doing some minor plumbing work to change our individual gas meters (dedicated to cooking only) to a single meter. This would presumably garner…
i would speculate, only as a brownstoner and not an expert, that it would be market value per square foot minus buildable cost per square foot. Or in real life, a percentage thereof.
How to Value Your FARDownload the rolling sales update excel file from dof / nyc.gov (sales thru Feb 2011) and filter as needed. http://www.nyc.gov/html/dof/html/property/property_val_sales.shtml
2/3 Family Brownstone Comps in Cobble Hill?You can do a few things. 1. Fight the appraisal. I've done this before and sometimes you win and sometimes you lose. If the value isn't attainable then it is what it is. You can fake numbers 2. Get a new appraisal 3. Use the lower appraisal as leverage if the seller is motivated and get a lower sales price. I've gotten some clients over 50k off their sales price in the past. 4. Have the bank deny the file for collateral value and get your down payment back. That's what I got. -Adam Dahill WCS LENDING adahill@wcslending.com
Single-family appraised very low: what are the options?14k seems way high to me. Try getting more estimates. Or you can call my contractor he specializes in facade & brownstone repair. Innovation Construction -718-666-7679
Facade Work