Property Valuation
What is a 'desk review' versus a 'field review' appraisal in Delaware?
AA desk review is done by a borrower; a field review is done by a lender
BA desk review evaluates the appraisal report using public records and available data without visiting the property; a field review includes an exterior (and sometimes interior) property inspection✓ Correct
CBoth terms refer to the same process — reviewing the initial appraisal
DA desk review is required for all Delaware residential loans; a field review only for commercial
Explanation
A desk review is an appraisal quality control review conducted at a desk using public records, MLS data, and the original report — without a property visit. A field review also involves an exterior (or interior) inspection. Both are used by lenders, AMCs, and government agencies to ensure appraisal quality and accuracy.
Related Delaware Property Valuation Questions
- In Delaware, what is the 'three-stage' neighborhood life cycle in order?
- The income capitalization approach to value is most appropriate for:
- Using the income approach, if a property has a NOI of $45,000 and the cap rate is 7.5%, what is the estimated value?
- The income approach to value relies primarily on:
- What is a 'paired sales analysis' in appraisal practice?
- A property has a replacement cost of $400,000, accrued depreciation of $80,000, and land value of $100,000. What is the estimated value using the cost approach?
- What is 'depreciation' in real estate appraisal (as distinct from tax depreciation)?
- The principle of substitution states that:
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →