Property Valuation
In South Carolina, a 'drive-by appraisal' (Exterior-Only Inspection) would likely be ordered when:
AThe property is in a flood zone
BThere is sufficient existing equity and the lender determines a full inspection is unnecessary✓ Correct
CThe property is a new construction
DThe borrower is a first-time buyer
Explanation
Exterior-only appraisals may be used for refinances with significant equity, portfolio loans, or when a full inspection is deemed unnecessary based on the loan-to-value ratio and risk profile.
Related South Carolina Property Valuation Questions
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