Nov 15 2007
Types Of Appraisals : Form 2055
There are a few types of different appraisals that your bank or mortgage professional may ask for when you are purchasing or refinancing your home. One type of appraisal is the form 2055 : Which is also known in the real estate industry as a drive-by appraisal. Simply put, the appraiser inspects the outside of the home and provides valuation for the home from the comps in the area and the overrall exterior appearance of the home. This type of appraisal is typically ordered in the case of a refinance, in a strong market and if the borrower has a strong credit score.