Complete Appraisal Blog

Appraisal vs Home Inspection
March 12th, 2024 3:07 PM

A residential real estate appraisal is a detailed evaluation of a property's value, usually conducted by a certified appraiser. This is typically done to determine the market value of a home for mortgage purposes.

On the other hand, a residential property inspection is a thorough examination of the physical condition of a property, including its structure, systems, and overall safety. It is usually performed by a certified home inspector before a home is sold. 

While an appraisal focuses on the monetary value of a property, an inspection focuses on identifying any potential issues or concerns with the property. Appraisals are required by lenders for mortgage approvals, while inspections are recommended for buyers to make informed decisions about the condition of the home. 

In summary, an appraisal determines the market value of a property, while an inspection evaluates its physical condition. Both are important steps in the home buying process and should be conducted by professionals. We 

Posted by Christopher Caccamo on March 12th, 2024 3:07 PMPost a Comment

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