Not every appraisal means somebody walks through your house.
Four levels of inspection sit behind the word appraisal, and the lender picks which one the loan needs.
Full interior, exterior only, desktop and hybrid. Same profession, same standards, very different amounts of looking.
What each one actually involves
The value opinion is the appraiser's either way. What changes is how they gathered the facts underneath it.
Full interior and exterior
The appraiser walks the property inside and out, measures, photographs every room and rates condition first hand. This is the traditional appraisal and the one behind most purchase loans.
- Who sees the house
- The appraiser
- Typical use
- Purchases, most FHA work
Drive by
The appraiser views the property from the street, photographs the front and confirms it exists and matches records. The interior is assumed from records and prior data rather than observed.
- Who sees the house
- The appraiser, outside only
- Typical use
- Some refinances, portfolio review
Desktop
The appraiser never attends. The report is built from public records, listing data, prior photographs and comparable sales. Everything rests on how good that existing data is.
- Who sees the house
- Nobody, on this order
- Typical use
- Lower risk refinances
Hybrid, also called bifurcated
Somebody else visits and collects the property data, photographs and measurements. The appraiser then analyses that data and forms the value opinion without attending.
- Who sees the house
- A trained data collector
- Typical use
- Where speed and coverage matter
What you gain and what you give up
Lighter scopes exist because a full inspection is not always proportionate to the risk. A low loan to value refinance on a tract home in a well documented subdivision is a very different problem from a purchase of a custom property on acreage.
What you gain is speed and lower cost. What you give up is first hand observation. A desktop report cannot know about the water damage in a back bedroom, because nobody looked. Whether that matters depends entirely on the property and the loan.
One thing does not change. The appraiser signs the report either way, and remains responsible for the opinion under the same professional standards.
People who do the full version
When the property is complex or the number really matters, a full inspection by a certified appraiser is the version worth paying for.
TyCorp Inc is Tyler Kane, a Certified Residential Appraiser on the FHA roster covering north Phoenix and the northeast Valley.
TyCorp Inc, north PhoenixApex Appraising is Weston Groll, a Utah Certified Residential Appraiser working 8 counties from Ogden to Provo.
Apex Appraising, UtahCommon questions
Is a desktop appraisal a real appraisal?
Who is the person who shows up for a hybrid appraisal?
Can I ask for a full inspection instead?
Is a drive by less accurate?
Not sure which one you were given?
Describe what arrived and we will tell you which scope it was.