To be frank, recently, I've observed that appraisers are literally zooming in and out of the home. In fact, one of my more recent buyers had TWO (2) appraisers who came to the home. The first one arrived 20 minutes late to our appraisal appointment, spent 10 minutes taking pictures of the home, taped off only one corner of the lot and left. And, yes, they do come inside the home, but they're really only looking to see if the home has three bedrooms, and 2 bathrooms and is in good-ish, not compromised, condition. The second appraiser called in by the lender did a "drive by" appraisal (never even got out of the car).
So, Erika, it is likely that the appraiser will come into the home, but don't worry too much about this since the appraiser will be in and out of the home pretty quickly.
If you have any questions about the appraisal, talk with your lender (if you are the buyer) or with your agent (if you are the seller) for more information!
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A bank appraiser will measure the home from outside to get the dimensions from the outside wall.
Then come inside to measure each room and inside wall measurement.
Check condition and upkeep of property, whether any upgrades were done, if so when.
Whether any additions with permits.
They see whether the property details gel with those listed on County records.
Always prudent to keep on top of what the County Records has on file for you, and correct
iff any errors.
The Bank appraiser depending on whether the loan if FHA has a complete different set of
guidelines and more stringent.
They have a very good idea of what the property is worth. A good appraiser has already called
the Agents with homes that Homes for Sale that are Pending, and asked what the homes are selling for, they have also accessed what has sold, and what is active and what the market is doing.
They have a very good idea of what the inventory levels are and $ / sq. ft.
Let me know if I can answer any other questions
The job of the appraiser is to take all variables into account so they must do a thorough review of all features.
The appraiser in most circumstances needs access to your home. You did not state what type of transaction(purchase, refi, short sale, etc) you are inquiring about and the level of the appraisal can vary depending on several factors. The appraiser has a set of guidelines they follow to conform to the banks guidelines. As stated already they will measure your property, take pictures and check for upgrades, additions and many other things. Depending on the size of your home the appraiser usually needs 20 to 30 minutes at your property. All the appraisers I have worked with have been very professional and very easy to work with. Its a fairly straight forward process and you, your agent or someone else can meet the appraiser and give them access.
This is why basing a purchase price or offer price based solely on square footage is a bad idea. Additionally, if you base an offer price on size and the buyer's appraiser comes back with a much smaller measurement you are going to have an argument on price. This is why we no longer post square footage on our listings unless we are very sure on size.
Lance King/Owner-Managing Broker
I am a former Real Estate Appraiser.
It is not possible to make an accurate appraisal of a home without inspecting the interior.
Several years ago it was common for the Banks to do what they call a "drive by appraisal" where they merely look at the house from the outside but do not inspect the interior or they would do something called an "AVM". That is an appraisal by an Automated Valuation Method where they do not inspect the house at all but use a computer program to set a valuation using public information about the house.
In fact when I was a Real Estate Appraiser, the banks were boasting that they would put all of us Real Estate Appraisers out of business because the banks could now use computers to do Auromated Valuation Methods of a house, instead of high cost Real Estate Appraisers. If necessary they could use a low cost bank employee, instead of a high cost Real Estate Appraiser to drive by the house to make certain that the house was still there.
That was when I and many of my colleagues changed our careers and became Real Estate Brokers instead of Real Estate Appraisers.
Some of the worst mistakes that caused the current foreclosure crises came from Drive by Appraisals and appraisals by Automated Valuation Methods.
Drive by appraisals and automated valuation methods did not work very well for the banks and in fact they were one of the primary causes of the current foreclosure crisis.
Most banks have learned their lesson, and they no longer do drive by appraislas or use automated valuation methods instead of true Real Estate Appraisals by Real Estate Appraisers.
I would be amazed if the appraiser did not want to inspect the interior of your home. The appraiser cannot do an accurate appraisal without inspecting the interior of your home.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: email@example.com
It depends on what the appraisal is for and who the lender is. Each lender will have their own requirements which will dictate whether they need to go inside or just do a
The appraiser does a great deal more to complete the appraisal after visiting your house.