When you're buying, selling, or refinancing a home in Baltimore, understanding the different types of real estate appraisals can help you navigate the process with confidence. As a Maryland State Licensed-Certified Residential Appraiser with over 35 years of experience serving the Baltimore area, I've seen how the right appraisal type can make all the difference in your real estate transaction.

The type of appraisal you'll need isn't your choice—it's determined by your lender based on loan program requirements, borrower qualifications, and current market conditions. However, knowing what to expect can help you prepare and budget accordingly.

Full (Traditional) Appraisal: The Gold Standard

The full appraisal remains the most comprehensive option available. A licensed appraiser physically visits your property to conduct a thorough interior and exterior inspection and analysis. This hands-on approach provides the most detailed and accurate assessment of your property's value.

During a full appraisal, I examine every aspect of your home, from the foundation to the roof, noting the condition, quality of construction, and any unique features that might affect value. This is particularly important for Baltimore's historic properties, where architectural details and CHAP tax credit eligibility can significantly impact valuations.

Typical Cost Range: $350 - $600+

Hybrid Appraisal: Combining Technology with Expertise

The hybrid appraisal represents a modern approach that balances efficiency with accuracy. In this model, one person conducts the visual inspection of the property, while a separate licensed appraiser analyzes the collected data remotely.

This method has gained popularity because it can reduce turnaround times while maintaining professional standards. The inspector captures detailed photos, measurements, and observations, which the appraiser then uses to complete the valuation report.

Typical Cost Range: $250 - $375

Drive-By Appraisal: Exterior Assessment Only

As the name suggests, a drive-by appraisal involves an appraiser conducting a visual assessment from the exterior of the home without going inside. This option is typically used for refinances when the lender has confidence in the borrower's equity position or for lower-risk transactions.

While less comprehensive than a full appraisal, drive-by appraisals still provide valuable insights into the property's exterior condition, neighborhood characteristics, and comparable sales data. They're particularly useful in stable markets where interior conditions are less likely to vary significantly from comparable properties.

Typical Cost Range: $100 - $150

Desktop Appraisal: Data-Driven Valuation

The desktop appraisal represents the most streamlined option, where an appraiser uses publicly available data—such as tax records and MLS listings—without visiting the property at all. This approach relies heavily on comparable sales analysis and property records.

Desktop appraisals work best for properties in well-documented neighborhoods with abundant comparable sales data. In Baltimore's diverse real estate market, this method is most effective in newer developments or areas with consistent property types.

Typical Cost Range: $75 - $200

Which Appraisal Type Is Right for Your Transaction?

Remember, you don't choose your appraisal type—your lender does. However, understanding these options helps you know what to expect and how to prepare. Factors that influence the lender's decision include the loan-to-value ratio, loan type (conventional, FHA, VA), property type and location, and your financial qualifications.

For Baltimore's unique properties, particularly historic homes in neighborhoods like Federal Hill, Fell's Point, or Bolton Hill, a full appraisal often provides the most accurate valuation. These properties have distinctive features and varying conditions that require in-person assessment to capture their true market value.

Working with an Experienced Baltimore Appraiser

Whether your lender requires a full inspection or a desktop evaluation, working with an appraiser who understands Baltimore's diverse neighborhoods and property types ensures the most accurate valuation possible. With my 35+ years of experience in the Baltimore market, I bring deep local knowledge to every appraisal type, from traditional full inspections to modern hybrid approaches.

Understanding these appraisal types empowers you as a homeowner or buyer to better prepare for your real estate transaction. If you have questions about the appraisal process or need professional residential appraisal services in Baltimore, don't hesitate to reach out.

Ed Drost is Baltimore's Trusted Appraiser with over 35 years of experience providing residential appraisal services throughout the Baltimore area. Residential Appraisal Solutions, LLC specializes in estate valuations, divorce appraisals, investment property assessments, and CHAP tax credit appraisals.