Getting Ready For Your West Village New York Real Estate Appraisal

The wind whispers through leafy trees as well-heeled New Yorkers stroll the charming, brick-lined streets of the legendary West Village on their way to designer boutiques on Bleeker. The Hudson River sparkles in the distance, lending waterfront prestige to the stately neighborhood. In New York City’s West Village, life is fashionable, sophisticated, and highly-desirable. West Village homes for sale comprise some of Manhattan’s most sought-after properties and thrill buyers with ultra-luxe amenities and stunning views.

Here you will find gleaming walls of windows letting in a deluge of lemony sunlight, as well as lovely garden patios perfect for a morning of tea and relaxation. All it takes is a glance to know the property in the West Village is the height of luxury, and residents of this artistic enclave revel in the creative atmosphere and exclusive lifestyle. But how do dramatic good looks translate in terms of property appraisal – and how do you go about preparing your West Village home for an accurate valuation? Let’s take a look at the factors involved in getting ready for your West Village real estate appraisal.

A home appraisal is essentially an accurate valuation of the property by an accredited or professional appraiser. The appraiser visits the property in question and examines the full interior and exterior of the home to figure out the appraisal amount. The duration of the process can range from less than an hour to several hours, depending on the appraiser’s approach and the detail and size of the property. Appraisers will typically use comparative market analysis reports to help determine the value.

It is important to note that a home appraisal is not the same thing as a home inspection. A home inspection is conducted by a professional home inspector before a buyer closes on a property. The home inspector walks through the property’s interior and exterior, thoroughly examining the entire place and compiling all data into an inspection report. The report will include information about the roof, the state of the water heater and electrical work, and the foundation, to name a few, in order to give the potential buyer as clear a picture as possible of the property’s condition. While the appraisal is a calculation of the home’s monetary value, the inspection acts as due diligence for a buyer’s peace of mind before committing to the financial investment.

An appraisal is an essential step in the real estate process. Whether you are buying a new home, selling your own property, or are interested in refinancing a current mortgage, an accurate home appraisal can give you the information necessary to make an educated decision on your financial future. For example, if you are interested in exploring West Village houses for sale, you will want to be able to determine if the asking price is fair market value or a seller’s inflated attempt to profit beyond reasonable margins. When selling your home, an appraisal helps you to determine what the fair market value is so you can maximize your profit.

Appraisals can be important when acquiring home insurance. Knowing the true value of your property can help you determine which home insurance policy is appropriate for your particular situation. Appraisals can also come in handy when a homeowner challenges the amount of property taxes assessed on a property. In fact, appraisals are usually mandatory for any property tax appeal. And if you are planning to buy a home with a traditional mortgage, an appraisal affords you the opportunity to walk away free and clear – appraisals are required if you want to obtain an appraisal contingency, which is an addendum to your agreement allowing you to leave a deal if the appraisal proves the home’s value is lower than the proposed purchase price.

Professional appraisers adhere to unbiased, objective analyses of properties, but that doesn’t mean you don’t have a few aces up your sleeve. First impressions matter in every area of life, and home appraisals are no different. The best way to prepare your West Village home for an appraisal is to ensure your property is clean and neatly organized, just as you would if you were inviting prospective buyers in for an open house. An appraiser will look at the following key elements.

Appraisers look at the overall condition of the home, checking to ensure the property is liveable. They inspect the bedrooms, hallways, and exits to determine safety and comfortability, as well as safety systems like smoke detectors. They investigate items like water heaters, turn on faucets, flush toilets, and check hot and cold water to determine basic functions are in working order. You can improve the experience by decluttering the entire home, cleaning from top to bottom, and paying attention to curb appeal.

This is especially important if you are selling your renovated West Village home. If you bought a fixer-upper and put work and upgrades into the property, you definitely want your appraiser to take note, as these improvements can dramatically increase your home’s value. If you have completed significant repairs already, as in the fixer-upper case, feel free to point these out to the appraiser. That said, resist the urge to rush into luxe upgrades for the sole purpose of obtaining a higher valuation – it won’t necessarily pay off. Your real estate agent will be able to offer tremendous insight into which upgrades and renovations will offer the highest returns on your investment.

Working with an expert agent dramatically improves your likelihood of success in all areas of real estate. When planning your appraisal, speak with your real estate agent to ensure you have all the necessary information.

If you are appraising a property in order to buy or sell, you have even more reason to work with an agent. Data proves that working with an experienced real estate agent significantly improves the home buying and selling process. From increased negotiation power to improving clients’ knowledge of neighborhoods and even commanding higher prices, agents are essential to a successful real estate journey.

A fixture on the New York City real estate scene, Carol Staab has created a prestigious concierge approach to property acquisition. Clients praise her as a consummate professional, and news publications and corporations like Fox, CBS, and the Wall Street Journal seek out her advice and guidance on a bevy of real estate topics. If you are planning on exploring West Village, NY, real estate, contact Carol and her expert team for a truly bespoke real estate experience.