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What is the difference between an appraisal and an inspection?

By
Real Estate Agent with The Mode Real Estate Group DRE # 00935148

What’s the difference between an appraisal vs. an inspection? 🤔

⚠️ They are both crucial steps in the home buying process to ensure you’re making a wise investment and they truly are very different.

→ An appraisal is an assessment done by a licensed appraiser to determine the fair market value of a property.

This helps lenders ensure that the property’s value supports the loan amount as the lender will only loan based on the appraisal amount (not your offer price)💰

→ An inspection is a thorough examination of a property’s condition, typically conducted by a certified home inspector or a licensed contractor.

It identifies any potential issues or repairs needed, helping buyers make informed decisions 🛠

It’s important to understand the difference and how they both benefit you. If you have any real estate questions, please don’t hesitate to reach out! 📲

#appraisalvsinspection #realestatevocab #localrealestateexpert #realtor #elkgroverealestate #appraisedvalue #homeinspection #sacramentorealestate

Posted by

Lori Mode

Lori Mode, Keller Williams Realty - Elk Grove

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Lori Mode and Bruce Durham, Elk Grove agents

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About the author: The above Real Estate information was provided by Lori Mode.  Lori can be reached via email at Lori@ModeREGroup.com or by phone at 916-405-5737. Lori has helped people move in and out of Elk Grove and surrounding Sacramento areas for the last 37 years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

John Pusa
Glendale, CA

Hello Lori Mode very valuable detailed report for the difference between an appraisal and an inspection.

Jun 19, 2024 08:24 PM