Property Valuation
In West Virginia, a 'drive-by appraisal' (exterior-only inspection) would be appropriate for which situation?
AA purchase transaction involving a first-time homebuyer
BA refinance of an investment property where interior access is not feasible✓ Correct
CAn insurance replacement cost appraisal
DAny appraisal where the owner refuses access
Explanation
Exterior-only (drive-by) appraisals may be appropriate for lower-risk refinance transactions, certain portfolio loans, or situations where interior access is not feasible. Lenders and appraisers must ensure this scope of work is appropriate for the intended use.
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