what is a drive by appraisal
Drive-by appraisals are used for gathering information rather than establishing home values. Drive-by appraisals, also called summary appraisals, are exterior inspections of homes by licensed real estate appraisers.These types of appraisals typically are used for documenting comparable listings or sales used in residential real estate appraisals required by mortgage lenders.rive-By Appraisal Usage. Mortgage lenders require a full interior and exterior appraisal using the Uniform Residential Real Estate Appraisal (Fannie Mae form 1004) for properties securing mortgage loans.