I've purchased three homes during my life (1993, 2004 and 2018), but not once did an appraiser visit any of them to conduct a visual inspection.  The mortgage company officer for the first house told me that was pretty typical in what she saw, often being called a "drive-by" appraisal, even with the VA loan I was using. The appraisals for the first and second homes came in to the penny of my offer price on the real estate contract.  The third home's appraisal was a surprise when it came in $10,000 higher than my offer price--which had already been accepted by the seller.Interestingly enough, Allstate, my insurer for the second house, sent the local agent to inspect the interior and exterior of the home using a corporate checklist prior to their underwriting and issuance of a homeowner's policy.  Obviously an on-site visit was not a cost problem to Allstate.  I salute these three African-American women who are trying to change the appraisal industry's treatment of African-American property owners.  They need to also hammer home to their peers the "drive-by" or no-show appraisal reports are also part of the valuation problem with that industry's ethics.

I've purchased three homes during my life (1993, 2004 and 2018), but not once did an appraiser visit any of them to conduct a visual inspection.  The mortgage company officer for the first house told me that was pretty typical in what she saw, often being called a "drive-by" appraisal, even with the VA loan I was using. The appraisals for the first and second homes came in to the penny of my offer price on the real estate contract.  The third home's appraisal was a surprise when it came in $10,000 higher than my offer price--which had already been accepted by the seller.Interestingly enough, Allstate, my insurer for the second house, sent the local agent to inspect the interior and exterior of the home using a corporate checklist prior to their underwriting and issuance of a homeowner's policy.  Obviously an on-site visit was not a cost problem to Allstate.  I salute these three African-American women who are trying to change the appraisal industry's treatment of African-American property owners.  They need to also hammer home to their peers the "drive-by" or no-show appraisal reports are also part of the valuation problem with that industry's ethics.

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