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The Home Appraisal Process: An Interview with Chris Todd of Todd & Associates Realtors and Appraisers

By Chris Todd

Tell us a little bit about your company and its foundation.

Todd and Associates Realtors and Appraisers is a full service licensed and Insured company with over 22 years of professional real estate experience in sales, listing, consulting and appraising. Previously known as Todd Appraisals, the family owned company expanded in 2003 to include Real Estate sales and services in an effort to help meet the growing needs of our clients. We are located in the Lansing area and provide appraisal services throughout the majority of central and lower Michigan counties as well as Real Estate sales and listings within the Lansing area and surrounding communities.

What are the key steps in the appraisal process?

The key steps in the appraisal process are to find out the problem or scope of work (assignment). Gathering information, inspection of the property and determine highest and best use. (pulling comps, analyzing the market, and final reconciliation.

How should one prepare for a home appraisal?

One should prepare their home for an appraisal by making sure that the appraiser has full access to the property including basements, attics, crawl spaces and out buildings. Be prepared to have interior photos taken to highlight the condition of the property and any improvements or adverse conditions that will affect the value. If there are sketches or any property information available, that would be helpful as well.

Is it necessary to stage their home beforehand, or will the appraiser help with that?

Typically, staging takes place when the home is placed on the market for sale. The listing agent can make a referral or offer assistance to make the home presentable for viewing, thus increasing its appeal and marketability to potential buyers.

What home factors have the biggest influence in the price?

The home factors that have the greatest influence on price are, Market, (what comparable properties are selling for in the open market), Location (proximity to influences on value such as schools, shopping etc.), and Conformity (conforms to the neighborhood).

Is an appraisal a one fee service, or is there more to the payment process?

Typically an appraisal is a onetime fee that is negotiated with the client and dependent upon the assignment and the scope of work involved in producing the report. However, there are times when additional fees are incurred for additional inspections or to address items that were not previously negotiated.

What is the best way for people to reach you and or your company?

Todd and Associates Realtors and Appraisers is located at 1000 Long Blvd, Suite #13, Lansing, MI 48911, you may contact us by email @ tlc@toddappraisals.biz.

(517)699-2100 or by fax @ 699-2009.

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