How to Prepare for a Drive-By Appraisal

Understanding Drive-By Appraisals

A drive-by appraisal is an exterior-only assessment of a property’s value, often used in mortgage refinancing or certain loan types when a full interior inspection is not needed. This streamlined approach offers efficiency, providing a focused perspective on a home’s external characteristics and surroundings. Preparing involves understanding what aspects of your property will be evaluated from the street.

During a drive-by appraisal, the appraiser focuses on what is visible from the public right-of-way or property perimeter, without entering the home or engaging with the homeowner. They assess the home’s exterior condition, noting the roof, siding, and windows for their state of repair and upkeep. The appraiser also evaluates curb appeal, considering the yard, landscaping, and visible features like garages and outbuildings. This external examination provides the basis for their valuation report.

Enhancing Exterior Appeal

Improving your property’s exterior appearance can influence an appraiser’s perception during a drive-by assessment. Simple efforts can make a difference in how your home is viewed. Maintaining a neat yard demonstrates care, reflecting positively on its condition. This includes mowing the lawn, pulling weeds, trimming bushes, and sweeping pathways and driveways.

Exterior cleanliness enhances the property’s visual appeal. Washing siding, cleaning windows, and clearing gutters contribute to a well-maintained appearance. Sweeping porches and patios removes clutter and presents a welcoming facade. These actions present a property diligently cared for by its owners.

Addressing minor exterior repairs prevents negative observations from an appraiser. Loose shutters, peeling paint, or broken fence pickets are noticeable and suggest neglect if left unaddressed. Fixing these issues reinforces the impression of a well-maintained home. Adding fresh mulch or seasonal flowers can brighten the landscape, showing pride of ownership that can influence the appraiser’s assessment.

Preparing Key Property Information

Even though an appraiser will not enter your home during a drive-by appraisal, providing them with relevant property information can greatly assist in an accurate valuation. Gathering details about recent upgrades made to the property since its last appraisal or purchase can be beneficial. This includes significant exterior improvements like a new roof, updated windows, or exterior paint, as well as major landscaping projects or deck additions. Providing approximate dates and costs for these enhancements, even for interior upgrades like a kitchen or bathroom renovation, helps the appraiser understand the full scope of improvements that contribute to the home’s overall value.

Compiling accurate property specifications is another important step. This includes the confirmed square footage of the living space, the precise number of bedrooms and bathrooms, and the exact lot size. Any unique features not immediately visible from the street, such as a detached garage, specific zoning classifications, or access to community amenities, should also be clearly documented. This detailed information ensures the appraiser has a complete understanding of the property’s characteristics beyond what can be observed externally.

Providing information on recent comparable sales in your immediate neighborhood can also be valuable. Homeowners often have insights into sales of similar properties that may not be widely publicized or might possess unique features that align closely with their own home. Supplying details about these “comps” can help the appraiser confirm market trends and validate their own research. Additionally, providing copies of any permits obtained for major work, particularly for structural changes or significant additions, offers official documentation that supports the scope and legality of property enhancements, aiding the appraiser in their comprehensive report.

After the Appraisal Visit

Following the appraiser’s drive-by visit, direct communication regarding the property’s valuation typically ceases between the homeowner and the appraiser. The appraiser’s role is to conduct the assessment and submit the report to the client who ordered it, which is most often a lender. Homeowners should not expect a direct call or discussion with the appraiser about the determined value.

The appraisal report will be formally delivered to the requesting party, usually the lender in a mortgage transaction. As a homeowner, you will typically receive a copy of this completed appraisal report from your lender once they have processed it. This ensures transparency in the valuation process and provides you with the official documentation.

Upon receiving the report, homeowners should carefully review it for accuracy in property details and to understand the determined value. The report outlines the methodology used and the comparable sales considered, offering insights into how the final valuation was reached. This review allows you to verify that all provided information was correctly incorporated into the assessment.