With the New York City real estate market seeing an uptick, one of the issues that sellers are beginning to encounter is offers that constitute a new high point for the market.

When real estate begins to climb, it can be difficult to find comparable sales that will support the sale price, and a deal may hit a stopping point if the appraisal comes in lower than the offer price.

The best way to avoid this issue as a seller is to be proactive with the appraiser. The following tips can help make sure you’re getting an accurate appraisal.

1.  Be home during the appraisal. While appraisers do not want you to tell them how to do their job, it is useful to point out items that might increase value that might not be apparent.

2. Know your comps. If there are recent favorable building comps, be sure to let the appraiser know. And if there are comparable buildings–i.e. your building is a part of a complex with other near identical buildings–point this out to the appraiser who may not know the neighborhood. 

3. Square footage. Measuring square footage is an inexact science and the wrong measurements can throw off an appraisal. Let the appraiser know the square footage from the last time it was appraised, so they have a baseline when they are measuring, and can see if there is something that is off before they complete their appraisal.

4. Micro markets. Let the appraiser know the micro market you are in, and how this area is where the comp set should be from–i.e. South Slope.

If your appraisal still comes out too low, don’t panic. You have options.

a. Order a new appraisal: If you ask your bank to order another appraisal, you will need to pay for it and give a reason. Send them your comps, and your prior floorplan measurements as evidence that this appraisal is potentially inaccurate.

b. If the appraisal is correct, and you simply have someone who wants to pay more for your property (which happens all the time in rising markets), you may want to reduce your price. Even buyers who can afford to take a smaller mortgage may balk at the idea that their new apartment is worth less than they have agreed to pay.  In this case, you can offer a small reduction and have both sides compromise equally, or simply choose to get the deal done at the new appraiseed price. But some reduction is usually advisable in anything but a very strong seller’s market.