What is the purpose of a site visit during the appraisal process?

The purpose of a site visit during the appraisal process is to gather essential data and observe property conditions that directly affect the property's value. This hands-on inspection allows the appraiser to assess various physical characteristics of the property, including its condition, size, layout, and any unique features that may influence its marketability and overall worth.

During the site visit, the appraiser can also take note of surrounding properties, neighborhood characteristics, and other relevant factors that impact the appraisal, such as location and zoning. This firsthand information is crucial in forming a well-rounded opinion of the property’s value, as it often goes beyond what is available in public records or via secondary data sources.

While analyzing market conditions is important, it typically involves additional research beyond just the physical property visit. Meeting with property owners may provide insights but is not the primary purpose of the visit itself. Assessing potential remodeling needs can also be part of the evaluation but is secondary to the main goal of accurately determining the property's current value based on its existing conditions. Thus, the primary focus of the site visit is to collect data that directly influences the appraisal outcome.