Home Inspections vs Appraisals

 What is the difference between a home inspection and an appraisal? That is a very common question that many clients ask, and home inspectors and appraisers often get confused for one another. So what is the difference?

First of all, an appraisal is not a home inspection. It is an appraisal of the house's value - something that a home inspector does not do. Also, an appraisal is not for you - it is for your lender. Before the lender gives out any money it wants to make sure that the house is worth what you are paying for it and that they would be able to get their money back out of it. Also, they want to know if there are any obvious functionality issues. So view an appraisal as a mini home inspection for your lender to protect THEIR interests.

A home inspection on the other hand is completely different. The home inspection is done for YOU, the buyer. It has nothing to do with the house's fair market value, but has more to do with how the home works, are there any defects or safety items, and is it functional overall. 

So before you decide to buy a home here in Citrus County, give me a call and I will be happy to perform a thorough and complete home inspection for you!

Submitted by RobertWilson on Thu, 05/12/2016 - 18:02.
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