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Drive-By/Exterior-Only Appraisal: A Comprehensive Overview
Overview: This type of home appraisal is designed to provide a valuation based on a visual inspection conducted from the street, ensuring a quick and efficient assessment. While this method has its limitations, it is an excellent option for various scenarios, including   family transactions, pre-sale or pre-purchase considerations,  and more.
A Drive-By appraisal can also be used for estate purposes.  IRS allows this type of appraisal report.   Ideal if the home has already been sold.

Inspection Process: During a Drive-By/Exterior-Only Appraisal, the appraiser conducts a thorough examination of the property's exterior, focusing on what is visible from the street. This includes observing the overall condition of the house, its curb appeal, and any notable features. The valuation is derived from a combination of these observations, information from the Multiple Listing Service (MLS), public records, and details provided by the client, such as interior photographs.
Scope of Valuation: The accuracy of the appraisal is inherently restricted by the limited view from the exterior. It is crucial for clients to understand that the assessment is based on the exterior features, and any improvements or changes not visible from the street may not be reflected in the valuation.

Appropriate Use Cases: The Drive-By/Exterior-Only Appraisal is particularly suitable for various situations. It is recommended for estate evaluations, facilitating family transactions, conducting assessments before buying or selling a property, determining value at the date of death, and more. Its efficiency makes it a valuable tool for gaining a quick and reasonably accurate estimate of a property's value in certain circumstances.

Questions? Give me a call -- Terre

(559) - 761 - 2370   

Appraisal Concepts

Appraising is not an exact science. There are no known tables, formulas, or mathematical calculations that will yield an indisputable estimate of market value. The appraiser must base an opinion of value upon the ever-changing relationship between human desires and a commodity.

Fundamental appraisal methods enable the appraiser to arrive at an estimate of value that is logical and supportable. Familiarity with fundamental appraisal theory helps the appraiser understand the importance of factors affecting buyers and sellers.

The final product of any appraisal is an estimate of value. 

What does this mean?    It means you will want to find an experienced appraiser to appraise your home.  An appraiser you have confidence in to determine the market value of your home .