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Why Should You Appraise Your Home: An Interview with Kevin Irwin of Varsity Appraisals

By Kevin Irwin

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

The company, Varsity Appraisals, is a little over 3 years old and was born as a result of the changing economy. We appraise a wide variety of properties from Huntington to The Hamptons including waterfront properties and estates. We appraise single family homes, multi family homes, condominiums, cooperatives, REO properties, field reviews, retroactive appraisals, foreclosure appraisals, land appraisals and new construction appraisals as well. Appraisers are FHA Certified with over 15 years of Appraising experience.

What is a list of reasons someone should appraise their home?

  • Selling a home or Refinance of a home loan is the most common reason
  • Home Equity Line Of Credit (HELOC) for home improvements
  • Divorce Settlements where both parties have appraisals completed and try to meet in the middle on a settlement for the home.
  • Estate Appraisals / Inheritance for tax purposes
  • For Sale Buy Owner (FSBO) Appraisals to present to potential buyers at open houses.
  • Tax Grievance

How are home appraisers paid?

Fees vary depending upon the complexity of the assignment. 95% of the time the fees are set by the lender/client and often fees for non-complex single family appraisals start at $200 and up. Typically waterfront properties will require some of the highest fees since comparables are scarce and requires extensive data research and extra time in the field.

How long does an appraisal take?

Depending on the availability of the property, inspection could be conducted within 2 - 5 days and most appraisal reports will have a turn around time of less than 24 hours from the time the property is inspected. Report are sent via internet but hard copies sent via regular mail are always available by request.

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

E-mail would be the best way but you can always call, fax or send regular mail requests or inquiries:

info@varsityappraisals.com

OFFICE: 631-880-0139

FAX: 631-509-0083

VARSITY APPRAISALS

P.O. BOX 236

PORT JEFFERSON, NEW YORK 11777

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Phone: 631-880-0139

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