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When buying a home, it can seem like there is an endless checklist to complete before you finally get the keys. An appraisal and a home inspection are usually on that list, and if you’ve never gotten either one before, they can seem like pretty much the same thing.
So, what is the difference between a home inspection and an appraisal? You’ve chosen the home. You made an offer, it was accepted, and a contract now bears your signature. There was a section in the contract that said you intend to have an inspection done on the property. Why then is your mortgage company talking about also hiring an appraiser?
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http://FolsomGraniteBayRealEstate.com What is the difference between a home inspection and a home appraisal? Evangeline Scott of Big Valley Mortgage and Pam.
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Now you know what a home appraisal is and what purpose it serves. Let’s look at how the value of your home will be determined. Also Read: How to Find The Best Mortgage Lender in MN. The Difference Between A Home Appraisal and Home Inspection. Some people may confuse an appraisal with an inspection.
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