What is the primary purpose of an appraiser inspecting a subject property?

The primary purpose of an appraiser inspecting a subject property is to collect information about characteristics that are relevant to value. This entails a comprehensive evaluation of both the physical and functional aspects of the property, including its location, size, layout, condition, and any unique features that may influence its market value. By gathering this specific information, the appraiser can make informed comparisons with similar properties, assess market trends, and ultimately arrive at a credible value estimation.

While it is essential for appraisers to follow USPAP requirements, the inspection goes beyond mere compliance; it serves the critical function of enriching the appraiser’s understanding of the property itself. This detailed firsthand assessment helps the appraiser to accurately reflect the property's condition and its contributory value to the overall real estate market. The inspection is fundamentally about gathering pertinent data, which is necessary for any reliable appraisal, thereby maintaining the integrity and quality of the appraisal process.