Is it worth getting our coop appraised when putting in on the market for sale?

Asked by Sedr, 11209 Sun Mar 23, 2008

Help the community by answering this question:

+ web reference
Web reference:


Jim Winters, Agent, Brooklyn, NY
Sun Mar 23, 2008
Hi Sedr,

It really depends on why you want to have your apartment appraised. If you wanted an estimate of it's value, have a look at the Trulia real estate guide for your zipcode. It will help you calculate your apartments market value, and it's free. If you need more help have a look at, Craigs list, or have a licensed real estate broker come by and take a look. If you wanted to be able to say to a prospective buyer, "my apartment appraised for $XXX,XXX and this is why my asking price is $XXX,XXX," then an appraisal is not a bad idea. Keep in mind though, that an appraisal may come in below the current market value.

Hope this helps. Good luck selling your apartment,

Web Reference:
3 votes
Jason Visor, Agent, Fort Worth, TX
Sun Mar 23, 2008
I would recommend you contact a local realtor and have them do a market analysis for you. As this is a customary buyer’s expense used for financing. Save your money
1 vote
Deborah Madey, Agent, Brick, NJ
Sun Mar 23, 2008
If you are going to try to sell by owner, it may be worth the investment.

If you are going to list w/ a Realtor, review the comps w/ the Realtor. Your Realtor will also keep you updated with feedback from the market, and advise accoringly if a price adjustment is appropriate.

An opinion of value is set for a particular moment in time. While the real estate market does not fluctuate quckly like stocks, it is a market and subject to change.
1 vote
Rhonda Holt, Agent, New York, NY
Mon Aug 11, 2008
Hello, before you spend any money on an appraiser all you have to do is go to the management office of your building and get a list of recently sold properties in your buiding and area. If your managment office cannot provide you with the list then you can go into your local real estate office and ask the broker for an agent that sells coops in your building or area and get a FREE MARKETING ANALYSIS to find out how much your property is worth. The agent can pull up all the units similar to yours that have recently sold and get those that are selling now.

I hope this information was helpful.

Rhonda Holt
The Co-op Queen
Weichert Realtors, H.P Greenfield
Brooklyn, NY
0 votes
Deborah Lern…, Agent, BROOKLYN, NY
Fri Mar 28, 2008
Dear Co-op owner:
A good real estate agent should do their homework and present you with comparable sales within the past 3 to 6 months. Also, you can get a list of recent sales from your management company to guide you.
Bay Ridge is a hot market, and an expensive one. If you wish, I can run comps for you.
Deborah Lerner- Fillmore RE, 2111 Ave U Brooklyn, NY 718-332-8800
0 votes
Gail Gladsto…, Agent, 11743, NY
Sun Mar 23, 2008
The only person who should be estimating market value is a Realtor who is well versed in recent sales and not afraid to tell you what you need to hear to sell your property.
Web Reference:
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more