Property Valuation
What is a 'desk review appraisal' and how does it differ from a full appraisal?
AA. An appraisal done quickly at a desk without any field work; less reliable but common for all transactions
BB. A review of an existing appraisal report by another appraiser, checking for errors, methodology, and conclusions; does not involve a property inspection✓ Correct
CC. An internal estimate by a bank loan officer without appraisal credentials
DD. An appraisal only considering data from MLS listings
Explanation
A desk review appraisal involves a reviewing appraiser evaluating an existing appraisal report for completeness, accuracy, and reasonable conclusions without visiting the property. Lenders may use desk reviews for quality control or second opinions. It differs from a field review, which does include a property inspection.
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