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ExteriorOnly Inspection Residential Appraisal Report bl2055 File # The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion

How to fill out exterior-only inspection residential appraisal

How to fill out exterior-only inspection residential appraisal:

1. Begin by gathering all necessary documentation, such as property records, previous appraisals, and any relevant sales data. This will help provide a comprehensive understanding of the property's history and value.
2. Conduct a thorough visual inspection of the property's exterior. Take note of any visible damages, repairs needed, and overall condition. Pay attention to the roof, siding, windows, landscaping, and any other exterior features.
3. Measure the property's exterior dimensions, including the lot size, building dimensions, and any other relevant measurements. This information will be essential for determining the property's overall size and potential value.
4. Assess the property's curb appeal and overall aesthetic. Consider factors such as the condition of the paint, cleanliness, and any unique features that may contribute to its value.
5. Research and analyze comparable properties in the area. Look for similar properties that have recently sold or are currently on the market. Compare their features, size, condition, and location to the property being appraised.
6. Evaluate any potential external influences that may affect the property's value. This could include nearby developments, zoning regulations, or environmental factors that could impact its desirability.
7. Utilize appraisal software or forms provided by your specific appraisal organization to accurately document your findings. Make sure to include detailed descriptions of the property's exterior, any damages or repairs needed, and any other relevant information discovered during the inspection.
8. Finally, analyze all the gathered information, taking into account the property's condition, location, size, and comparables. Use your professional judgment to determine an accurate and fair market value for the property based on the exterior-only inspection.

Who needs exterior-only inspection residential appraisal:

1. Homeowners who are looking to sell their property and want to determine its market value based on its exterior condition without the need for an extensive interior inspection.
2. Real estate agents who want to have a general idea of a property's value before listing it on the market. An exterior-only appraisal can give them a starting point for pricing the property.
3. Lenders who require a quick appraisal to assess the property's overall condition and market value for loan purposes.
4. Insurance companies who need an accurate appraisal of the property's value to determine the appropriate coverage and premiums.
5. Investors who want to assess the potential value of a property without the need for an in-depth inspection before making a purchase decision.

In conclusion, filling out an exterior-only inspection residential appraisal involves conducting a thorough visual assessment of the property's exterior, researching comparable properties, and documenting all findings accurately. This type of appraisal can be useful for homeowners, real estate agents, lenders, insurance companies, and investors in determining the market value of a property based on its exterior condition.

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What is exterior-only inspection residential appraisal?

An exterior-only inspection residential appraisal is when an appraiser assesses the value of a property based solely on the exterior features of a home.

Who is required to file exterior-only inspection residential appraisal?

Appraisers who are tasked with determining the value of a property using only exterior observations are required to file an exterior-only inspection residential appraisal.

How to fill out exterior-only inspection residential appraisal?

To fill out an exterior-only inspection residential appraisal, the appraiser must conduct a thorough evaluation of the exterior features of a property, taking note of any visible damage or improvements.

What is the purpose of exterior-only inspection residential appraisal?

The purpose of an exterior-only inspection residential appraisal is to provide an estimate of a property's value based on its exterior condition, without requiring a full interior inspection.

What information must be reported on exterior-only inspection residential appraisal?

On an exterior-only inspection residential appraisal, appraisers must report on the property's exterior condition, any visible damage, improvements, and overall curb appeal.