Forum Archive

I am looking at a condo in Clinton Hill (an ideal location for me). All the units in the building are partially renovated, but in fairly good shape. My concern is that I’ve been told by the seller’s realtor that condos in that building are appraising for less than the purchase price, causing financing problems for many potential buyers.

I guess my question is if the condo is in a great location and in o.k. condition, what could be reasons for a low appraisal value?
Would you buy a property that appraises low? Is it overpriced?