Most popular is the Full Appraisal. These are similar to what would be used for a mortgage loan (purchase or refinance, where the lender typically selects the appraiser). They are also the most thorough choice for other types of "asset valuation" assignments. This type of assignment involves an on-site visit with exterior measurements, interior and exterior photographs, and general observations about building materials, finishes and fixtures, updating and the like. Generally a Full Appraisal will yield results which are both most reliable and most satisfying.
An Exterior-Only Appraisal is more convenient for the client, since no appointment or interior inspection is needed. Based on public records and other sources, the appraiser makes so-called Extraordinary Assumptions about the size and condition of the property. These are less expensive and offer quicker turnaround, but the scope of inspection may be considered insufficient by third parties, if there are any legal considerations involved.
Finally, Restricted Use appraisals can be those using a less intensive set of observation / reporting standards (while mindful of the Uniform Standards of Professional Appraisal Practice, aka USPAP). This category includes Desktop Appraisals, which can be done inexpensively and relatively quickly. As with Exterior-Only Appraisals, these are less expensive and offer quicker turnaround, but the scope of inspection may be considered insufficient for some clients.
We recommend getting in touch with us to personally discuss your options with Darin Rogers (602-435-8359, receives text messages).