Full appraisals are referred to as the most accurate appraisals. Full appraisal requires the
appraiser to physically inspect the property. Appraiser must inspect and take photos of the
exterior, interior, bedroom and bathroom count, kitchen, living room and measure living square
footage. Appraiser must inspect overall condition of exterior and interior for any visible
deficiencies or damages. After the appraisal inspection process is complete, appraiser must
compare subject property with similar properties of active/pending and that have been sold
within 6 months from the effective date of the appraisal. After gathering all this information
appraiser will use the 3 approaches to value (sales comparison, cost and apply the Income
approach if this is a multi unit or investment property). Perform the process of Reconciliation which
means the appraiser weighs the results of the three different approaches to value and arrive at an
opinion of value. Please note that this is not simply an average of the three values. For details on the full
appraisal process please refer to the appraisal process video.