Desk Top Appraisals for RE Agents and Loan Officers – A fast solution to obtain a value.

By Craig Wallace, Long Beach Appraiser

What is a desk top appraisal and how can it help you?

A desk top appraisal, is an Appraisal done without actually going to the subject property. All information is gathered from online sources such as; MLS, Realist and Public Record. I also get information from  Real Estate Agents if they have first hand knowledge of the property.I then proceed just like a normal appraisal. I look for comparables within the subject market area. In our current crazy market, I try and only go back 90 days.  Once my comparables have been selected and depending on what form I use, I can apply adjustments for upgrades, condition, square footage. One form I can use is strictly for a quick analysis based solely on the sale price without adjustments. 

Desktop appraisal provide a quick effective way for a buyer to see if the property they are interested in is worth the asking price. A Real Estate agent might need this for there seller to help determine the market value.  A Loan officer might need this for a Refinance to determine the loan to Value Ratio. 

If you have any questions or a need for a Desk Top Appraisal in the Long Beachor Surrounding Areas, give me a call at 562-673-1138, send me an email or find me on Facebook and Twitter.

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