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Also known as a “drive-by appraisal” or “2055 appraisal,” this approach is often chosen when a full appraisal isn’t required, such as for low-risk lending scenarios or when lenders have sufficient market data to support a valuation without an interior inspection.
They are also used in situations like foreclosure when interior inspections are not possible.
Also known as a “drive-by appraisal” or “2055 appraisal,” this approach is often chosen when a full appraisal isn’t required, such as for low-risk lending scenarios or when lenders have sufficient market data to support a valuation without an interior inspection.
They are also used in situations like foreclosure when interior inspections are not possible.