A desktop appraisal is a property appraisal that is conducted using digital tools and data, rather than an in-person inspection. This type of appraisal is typically used when a full inspection of the property is not necessary or when a quick and cost-effective valuation is required.
During a desktop appraisal, the appraiser will gather information about the property and the surrounding area from a variety of digital sources. This can include public records, satellite images, and online databases of property values and market trends. The appraiser will then use this information to create a report that estimates the value of the property based on comparable sales and other market data.
Desktop appraisals can be completed much faster than traditional appraisals, as they do not require an appraiser to visit the property in person. This makes them a popular choice for mortgage lenders and other entities that need to quickly assess the value of a property for refinancing, tax assessment, or other purposes. Additionally, desktop appraisals are often more cost-effective than traditional appraisals, as they require less time and resources to complete.
However, it's important to note that desktop appraisals may not be appropriate for all types of properties. In some cases, an in-person inspection may be necessary to accurately assess the value of a property. Additionally, desktop appraisals rely heavily on digital data sources, which may not always be accurate or up-to-date. For this reason, it's important to work with a reputable appraiser who has experience conducting desktop appraisals and who can provide a reliable estimate of the property's value.
** Not all properties nor transactions are eligible for a desktop appraisal, so we recommend that you consult the final intended user of the report (Agent, Lender, Attorney, Etc.) to see if this type of report is a possible option for you.**
