Licensed as a Certified Residential Real Estate Appraiser in NC and SC, Michael McClam will work hard to perform a fair and unbiased appraisal of your real estate. We strive for high quality with timely delivery of results. Michael's years of experience as a Real Estate Broker, Real Estate Investor, Licensed General Contractor and Builder in the Carolinas provides you with a resource knowledgeable in all aspects of real estate from existing homes to new construction to investment property. Having resided in the Carolinas his whole life, Michael and his wife currently enjoy living in Cherry Grove (North Myrtle Beach) and work in both NC and SC.
Your home's value is usually determined by a detailed comparison of your property to similar properties (age, size, architectural style, location, view, neighborhood amenities, etc) that have sold in the past year or are for sale in the surrounding area. Similar properties are found and adjusted to look like your property. Values are then derived from those comparable properties.
In some specialized cases, value is determined using a Cost Estimate approach.
In the case of investment property, value is sometimes influenced and determined from the amount of income a property generates.
Depending on current workload, the typical appraisal takes about a week to complete. We will pull public information that is available about your property first. Depending on the scope, we will typically schedule an appraisal inspection to see your home within 48 hours of receiving an engagement. During that inspection, we will take detailed measurements of your home and any buildings on the property. We will create a sketch of your home and label the major rooms. In most engagements, we will take exterior and interior pictures of your home. Following the inspection, we will determine appropriate comparable properties and perform research on them as well. Finally, we will develop the appraisal and write the report.
In most engagements (mortgage related), we are hired by the Lender who is our Client. In those cases, we send our reports only to the Lender who will then usually offer a copy to the homeowner upon request.