What’s the difference between an appraisal and a home inspection?

Many people get these two terms confused. We hope this will help.

Hello, it’s a beautiful day to talk about real estate.

One question we get asked a lot is, what’s the difference
between an appraisal and a home inspection?

A home inspection is when you hire somebody to
come in and take a look at all of the components in the House.
They’re going to come in and take a look at the heat, the
electric, the roof and it takes a couple of hours for them to go
through the House. You’re going to walk through with them usually
and they’ll tell you how everything looks.

An appraiser is hired by the Bank. You’re going to pay for it
upfront, you pay for it before they go out. They’re going to go
out and make sure that the value of the House is there, and that
what you’re paying for it is what it’s worth in today’s market.
Basically you’re financing it, which means they’re paying for it.
They want to make sure that the money that they’re giving
you for the House has the value. That’s what the appraisal is.

That’s the difference between an appraisal and a home
inspector. If you have any questions feel free to give us
a call.

If you have any other questions that you want to talk
about or you’d like to find the answer to, feel free to contact
us. I’ll leave our contact information somewhere below.

We hope to hear from you, and make it a beautiful day!

Take care,
Karen McLinden
www.BeautifulDayRE.com

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