What’s the Difference Between a Home Inspection and an Appraisal? If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. >>Home Inspection Here’s the key difference between an inspection and an appraisal. Bankrate says, “In short, while an appraisal helps you understand a home’s value, inspections help you understand a home’s condition.” The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. >>Home Appraisal NAR explains, “A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.” When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. DM me today so you have the expert guidance you need to navigate the entire homebuying process. #realestate #homeownership #homebuying www.DanFreshley.com

ICYMI: What’s the Difference Between a Home Inspection and an Appraisal? If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. >>Home Inspection Here’s the key difference between an inspection and an appraisal. Bankrate says, “In short, while an appraisal helps you understand a home’s value, inspections help you understand a home’s condition.” The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. >>Home Appraisal NAR explains, “A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.” When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. DM me today so you have the expert guidance you need to navigate the entire homebuying process. #realestate #homeownership #homebuying www.DanFreshley.com
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