A desktop appraisal is a property valuation that is completed at the appraisers desk, using tax records and information listed on the Multiple Listing Service (MLS), instead of through an in-person survey of the property. The appraiser uses various public records like tax records, MLS, property photos, a floor plan with interior walls, gross living area (GLA) calculations, and other data to complete a thorough report. Desktop appraisals are often completed using robust digital software to analyze property data from public records. The process is done from an appraisers desk, hence the name. Desktop appraisals are a faster way to complete an appraisal for a home loan.
Desktop appraisals can be a useful way to avoid face-to-face contact in the home buying process. However, a desktop appraisal may not be the right fit for all situations. For example, poorly maintained properties may not be able to be fully assessed through a desktop appraisal. Similarly, recently renovated properties may not be able to be appropriately valued without the information from a physical inspection. If the appraiser does not have adequate information to complete a desktop appraisal based on the property data collected by a home inspector, public records, the homeowner, or other online tools, a full appraisal should be completed.
There are several differences between a full appraisal and a desktop appraisal. In traditional appraisals, an appraiser visits the property to complete an inspection to collect property data to assist in determining the homes value. Appraisers take photos, measure for square footage, evaluate the propertys condition, and use various public data sources to develop an opinion of value. In contrast, a desktop appraisal is completed without an onsite inspection.
Desktop appraisals have become more popular during the COVID-19 pandemic as a way to limit face-to-face contact during the home appraisal process.
