Which factor is NOT relevant when determining property appraisals?

When determining property appraisals, the type of mortgage is not a relevant factor. The appraisal process primarily focuses on the characteristics and condition of the property itself, as well as external factors that influence its value.

Location is crucial in appraisals because it affects the demand for the property, accessibility, and local market conditions. Time on the market can also be indicative of how the market perceives the property and its pricing strategy, which can affect value assessments. Property condition directly influences the appraisal by providing insights into how well the property has been maintained and any potential repairs that may be needed.

In contrast, the type of mortgage pertains to the financial aspect of purchasing the property rather than its intrinsic value or market factors. Mortgage terms are more about how a buyer will finance the purchase and do not directly impact what the property is worth in the current real estate market. Therefore, this factor is not relevant to the property appraisal process.