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How is Your Home Appraised: An Interview Jay McGinnis of Mcginnis Appraisal Services, LLC

By Jay McGinnis

Tell us a little bit about your company and the services you offer.

McGinnis Appraisal Services, LLC is a residential appraisal service that includes Charleston, Berkeley, and Dorchester counties in South Carolina. We perform residential valuation services for mortgage, refinance, estate and legal settlement transactions.

In most cases, who typically orders a home appraisal?

I would say that home appraisals are typically ordered by Mortgage Companies and Banks.

What types of appraisals would a homeowner order?

Homeowners only order pre-listing appraisals.

Can you outline the major steps in the appraisal process from start to finish?

The appraisal process starts with a measurement and inspection of the home. Condition, quality, location, and square footage are major factors in choosing the appropriate comparables to value your home.

When you're inspecting a house, what are the basic areas you cover and some of the main things you're looking for?

Square footage is the biggest factor, along with room counts and finishings. Lot and location amenities are analyzed as well.

What does the inspection report include and when it is usually available?

A detailed drawing of the home with a floor plan, as well as condition and/or deferred maintenance.

Is there anything that most homeowners or homebuyers don't understand about the appraisal process?

We are not home inspectors. We also do not value homes by taking the average $/sf in the neighborhood and make adjustments to come up with a value.

What's the best way for people to contact you and your company?

jay@mcginnisappraisals.com
843-819-1296.

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