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Differences between home inspection and appraisal

A common question when buying a home is, “what is the difference between a home inspection and appraisal? Usually the confusion starts with the the fact they both are needed prior to closing. The difference between these two is the simple fact that one determines the value of a home for your mortgage lender while the other determines the condition of a home for your benefit.

An appraisal is conducted by a licensed appraiser, meaning not just anyone can perform such duties, and although the job functions between these two are similar in timing, home inspectors provide the buyer with knowledge to make an informed decision before closing.  The inspection report will provide conditions of the home- real problems and solutions without opinion or bias.

Appraisers give opinions to determine market value so that your lender can determine value of the purchase. Home inspections should be a required tool for a buyer to know what needs to be repaired or replaced before purchasing. Home inspectors  always provide reasonable solutions to most issues, and most of the time their recommendations are community trusted.

When choosing a home inspector it is important to do your research and look for reviews, up to date licenses, certifications, and appropriate delivery time of results.

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