Question: Why Do I Need An Inspection - Aren't I Getting An Appraisal?
Answer: An inspection and an appraisal are two entirely different things and are used for different purposes during the home buying process. An appraiser can be hired by anybody, but for a home purchase that involves a loan, an appraisal is generally ordered by the lender to assess the market value of the property and protect the lender's interest in lending funds for the purchase. While appraisals for certain loans such as FHA & VA loans have requirements to "inspect" certain aspects of a home, they are not a substitute for home inspections and due diligence.
Please read this regarding FHA appraisals and requirements.
For more information on VA loans and requirements see the U.S. Department of Veteran Affairs site.
Home inspections are not required by law in the state of Idaho, but an 
inspector is commonly hired by a prospective buyer to check out the condition and functions within the home that a buyer has under contract. Inspections are often made to be a contingency of the offer and it is a good idea to get them completed on any house you plan to purchase. The seller doesn't necessarily know about every flaw or issue within their home and an inspection or a series of inspections can help determine these items. Your inspector should provide a written report (often along with photos) and can assist you in developing a list of repairs or corrections that may be completed by the seller. Even if you don't request every item to be repaired or the seller doesn't agree to all the items, it can also 
be a form of a checklist to follow that provides recommendations and property maintenance as a new homeowner. It's a good idea to be in attendance if possible when the inspector views and inspects the home. You can learn valuable information about the home you are contracted to purchase, prospective maintenance items and see first hand the conditions that the inspector will be noting in the report.
Question: Okay, that makes sense. But I'm buying a new home. There can't possibly been anything wrong with my new home and therefore I don't need an inspection on that, right?
Answer: Wrong. We highly recommend home inspections whether the home is existing or new construction. Even though the city or county has sent their inspectors and has theoretically made sure that everything is up to code, and even if a builder or developer provides a home warranty with the purchase, it is a good idea to get a home inspection anyway. Please read the below post that I wrote regarding this subject a couple of months ago.
New Construction : Do You Need A Home Inspection? Representation?
If you would like someone to help you navigate all the different aspects of home purchasing in the Treasure Valley please feel free to contact us.
John Boles 208-830-6185 (call/text)
johnboles@boiserealtystore.com
Serving all of Ada & Canyon Counties and
portions of Gem, Owyhee & East Boise Counties
Jon Gosche Real Estate, LLC
Boise, Idaho Real Estate
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