What is a Desktop Appraisal?
AuthorAmanda Dodge. Date:
An appraisal is an invaluable part of the buying and selling process. It alerts the buyer to the value of the property to ensure they don’t overpay for it. Most lenders require buyers to get appraisals before they approve loans to confirm that the mortgage doesn’t exceed the actual property’s value. However, not all appraisers need to enter the home to estimate its value. You may be able to secure a desktop appraisal during the home purchase process. A desktop appraisal occurs when the appraiser runs their report digitally instead of touring the house. Desktop appraisals were essential during the COVID-19 pandemic when it wasn’t safe to enter different homes throughout the day. However, the practice has continued in the years since. Learn more about the appraisal process to decide whether the desktop method is right for you. What Is a Desktop Appraisal? A desktop appraisal is an evaluation of … Continued
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