What Is a Drive-By Appraisal and When Is It Used?

Not every appraisal requires a full interior inspection. In certain situations, lenders and property owners rely on a drive-by appraisal — a limited-scope valuation based on an exterior inspection and available data.

What Is a Drive-By Appraisal?

A drive-by appraisal, formally known as an exterior-only inspection appraisal, is completed without the appraiser entering the property. The appraiser views and photographs the exterior, then relies on public records, MLS data, and other available sources for interior information.

When Are Drive-By Appraisals Used?

• Refinances with significant equity and low loan-to-value ratios

• Home equity lines of credit (HELOCs)

• Portfolio lender requirements

• Situations where interior access is not possible

• Certain government-backed loan programs

Limitations of a Drive-By Appraisal

Because the appraiser does not inspect the interior, a drive-by appraisal may not fully capture the condition, upgrades, or features of the property. For most estate, divorce, and tax assignments, a full interior appraisal is required.

Contact Mantis Valuation Advisors to discuss which type of appraisal is right for your situation.