Appraisal vs. Home Inspection: What's the Difference?
So what is an appraisal, exactly? A real estate appraisal is, by definition, an opinion of value for a commercial or residential property, and it's required in many real estate transactions. The appraisal is what helps establish the property's value. Appraisals are completed by an appraiser assigned through a random rotation. We work with a short list of approved, highly capable appraisers in our area, but we don't control which one is assigned to each appraisal.
And what about a home inspection? Paying a little for a home inspection can save you a great deal of money later on! How does a home inspection save you money? Think of it as a test drive for a car you're thinking about buying. Most people wouldn't buy a car on looks alone. Wouldn't you want to look under the hood and take it for a spin first? It's worth doing the same for a home you're making an offer on. It's likely the biggest purchase you'll ever make. Unlike the appraisal, you get to choose the inspector you hire. If you're unsure who to hire, I'm happy to recommend someone.
Reach out if you have more questions about home inspections or appraisals.
