What do appraisers look for in a refinance appraisal?

In a refinance appraisal, the appraiser notes the property's characteristics and those of the surrounding area, such as the view or a nearby noisy highway, along with the overall condition of the foundation and roof and any renovations. The appraiser photographs the exterior and some interior features, then analyzes the property against comparable sales, considering lease records, location, prior appraisals, and income potential, and prepares a written report of value.