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Details matter in real estate transactions in the Bronx

On Behalf of | Aug 18, 2021 | Real Estate

When you’re buying real estate in the Bronx, you need to make sure that you carefully consider even the smallest details. Never take anything for granted. Always do your homework, learn as much as you can and then use that knowledge to make the best possible decision for you. Overlooking anything can throw a wrench in your plans.

One prime example of the importance of the details lies in getting an appraisal done. Someone can list their property for any price they want. That doesn’t mean it’s worth that much. This isn’t like going to the store, where you see the pricetag and you know roughly what you’ll pay no matter what. You can make an offer, and you need to know the fair market value so that the offer makes sense — no matter what the seller is hoping to get.

What will the appraiser consider?

An appraiser spends time going through the home, whether he or she has been hired by the seller or the buyer. They’re going to look for things like:

  • The general condition of the home, both inside and out
  • The condition of the property itself
  • The size of the home and the lot it sits on
  • The value of other homes in the area that are comparable
  • Any major issues that need to be repaired, such as a new roof or a foundation crack
  • The value of upgrades that have already been made
  • The age of major home systems, such as the heating and cooling system
  • All improvements that have been added or amenities that not all homes offer
  • Anything unappealing that could detract from the value or limit the pool of potential buyers


It’s the appraiser’s job to provide an unbiased estimate of how much the home should sell for. He or she has no stake in that sale and is paid the same regardless, so this is a trustworthy figure that can be used in negotiation. The more you know about the real estate transaction process, the more you can do to ensure things go smoothly when buying or selling.