How sellers can get a fair appraisal in the city’s current housing market

An issue arises when listed apartments or townhouses are appraised for less than what a buyer has agreed to pay for the property. This tilts the loan-to-value ratio for mortgage lenders, according to BrickUnderground, which means the buyer must either pay more or the seller needs to slash the price of the listing. Today, with sales slow to close and prices just as slow to appear, appraisers have a tough time basing their numbers on current sales. Here are some tips for home sellers to ensure accurate property appraisals.

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