What is a Boston condo desktop appraisal?

The name pretty much gives it away. A desktop appraisal is an appraisal that is done at a desk, avoiding any social contact with the owner.“Desktop Appraisals” are popular for refinancing Boston condos during this health crisis.

 A “desk or desktop appraisal” is when the bank uses varying computer programs to determine the value of a Boston real estate residential property and when an in-person appraisal is waived. Some examples of computer programs that can be used are; MLS, Public Records, and Google Maps are the main three that come to mind, but there are plenty more out there.

Only a licensed or certified appraiser can perform a desktop appraisal and there’s no interior inspection, no exterior inspection, and no measuring.

Can I trust a real estate dektop appraisal?

As stated,only a licensed or certified appraiser can perform a desktop appraisal; they are licensed professionals working under strict federal and state requirements. In Massachussetts, real estate appraisers must have college-level education, complete pre-licensing courses, acquire industry experience, and pass the appraiser exam. 

Boston real estate and the bottom line

As you can see, desktop appraisals is a viable option to find out what your Boston condo is worth, while still maintaining “social-distancing.”

While they are not ever going to stand up to a full appraisal, desktop appraisals are here to stay.

We’re providing daily updates on the coronavirus and its impact on the Boston Real estate market. For today’s Downtown Boston real estate news click here

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