Property Valuation
A Minnesota appraiser is asked to perform a drive-by appraisal (exterior inspection only). Compared to a full interior appraisal, this type of appraisal:
AIs more accurate because it is faster
BHas greater limitations and uncertainty about interior conditions✓ Correct
CIs the standard type used for all residential sales
DIs not permitted in Minnesota
Explanation
A limited (drive-by or exterior-only) appraisal has greater uncertainty because the appraiser cannot inspect the interior. It may miss significant defects, improvements, or conditions affecting value. These are sometimes used for refinances when the lender has acceptable risk tolerance. Full interior appraisals are preferred for purchase transactions in Minnesota.
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