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
http://dlvr.it/SmzxQ0

Comments

Post a Comment

Popular posts from this blog

#ForBuyers #ForSellers #Pricing #HousingMarketUpdates Home Prices Still Growing – Just at a More Normal Pace: If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. http://dlvr.it/Sz993K

Image
#ForBuyers #ForSellers #Pricing #HousingMarketUpdates Home Prices Still Growing – Just at a More Normal Pace: If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. http://dlvr.it/Sz993K /> http://dlvr.it/Sz99Dp
Read more

Will a Silver Tsunami Change the 2024 Housing Market? Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .” The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more. The concept makes sense in theory, but will it happen? And if so, when? Why It Won’t Have a Huge Impact on the Housing Market in 2024 Experts say, so far, a silver tsunami hasn’t happened – and it probably won't anytime soon. According to that same article from HousingWire: “. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.” Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best: “Demographic trends, they don't tsunami. They trickle.” #realestate #homeownership #homebuying www.DanFreshley.com

Image
Will a Silver Tsunami Change the 2024 Housing Market? Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .” The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more. The concept makes sense in theory, but will it happen? And if so, when? Why It Won’t Have a Huge
Read more