Case Study: Queens Village Estate
Helping a homeowner’s estate get the best price for his property
The Challenge
When a Queens Village homeowner passed away, the heirs to his estate decided to sell the property. Area builders were offering between $550,000 and $600,000, but the estate attorney advised his clients to get a professional appraisal before they signed a contract.
The Process
After realizing that this sizeable property consisted of three separate tax lots–and analyzing comparable sales–SVS concluded that the land was actually worth at least $800,000 due to its subdivision potential.
The Result
Five months later, the property was sold for $880,000 – more than $200,000 over the highest offer.
May 24, 2017
