Home inspections are an essential ingredient of the home buying and selling process. Therefore, it is important the buyer of the home attend the inspection in person, along with the experienced home inspector hired. For those who might not know, there is a difference between the home inspection and the home’s appraisal. Let’s take time to clear this area up and get to the know what those differences are.
A Home Appraisal
It is usually the surveyor performing the appraisal on the home and based on their findings he/she will give an evaluation on the property before an offer is placed. In the appraisal, the surveyor will take into account a number of things including the current condition, the size of the home, proximity to schools, comparable property within a five-mile radius. All these will factor into the value of the property this helps the buyer greatly by allowing a credible purchase offer. An appraisal does not take in any facts on the structure’s integrity; this is where an inspection becomes necessary.
