inspections vs appraisals: A life threating issue was exposed during inspection.
- 03/28/10 06:14 AM
A few years ago i had a was working with a buyer that was relocating to Colorado. They really wanted to live in Arvada on the west side of town in the Westwoods neighborhood. The buyer's really liked the area and found a house that suited the family's needs. When discussing the inspection and appraisal they were confused on the two. I explained if you were paying cash that would be acceptable. Since the lender is funding your loan that an appraisal needed to be done to establish the value to fund your loan. When the inspection process came up they wanted to waive that and … (1 comments)
A few years ago i had a was working with a buyer that was relocating to Colorado. They really wanted to live in Arvada on the west side of town in the Westwoods neighborhood. The buyer's really liked the area and found a house that suited the family's needs. When discussing the inspection and appraisal they were confused on the two. I explained if you were paying cash that would be acceptable. Since the lender is funding your loan that an appraisal needed to be done to establish the value to fund your loan. 
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