Which type of appraisal involves external examination only?

The type of appraisal that involves an external examination only is a Limited-Restricted appraisal. This method is specifically designed to provide an overview based on a visual inspection of the property's exterior and its surroundings, without conducting a detailed assessment of the interior or the property’s condition in-depth.

This approach is particularly useful in situations where a quick assessment is needed, such as for preliminary business decisions or when the internal condition of the property is not a concern for the valuation. Limited-Restricted appraisals are often used in circumstances where the cost of a full appraisal would not be justified, or where the purpose of the appraisal does not necessitate an interior inspection.

Other types of appraisals, such as a Full review appraisal or Market value appraisal, involve more comprehensive evaluations and typically take both external and internal factors into consideration. Similarly, a Sales data report appraisal focuses on comparable sales without limiting to just external characteristics, thus differing from the Limited-Restricted approach.