Home appraisals and home inspections are sometimes confused. While they are both an important part of the home buying process, they ultimately serve two different purposes.
Key Takeaways
• Appraisals estimate the value of the home, taking into consideration factors like comparable sales of homes in the area
• A home inspection looks at the condition of the home in detail, including major mechanicals and the overall structure
• Lenders use the appraised value of the home to help determine what loan amount to offer
Donald Horne, Team Success Listing
Associate Broker-Coldwell Banker Shooltz Realty
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Oxford Office 248-969-8065
Lapeer Office 810-338-0628
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donaldhorne.realtor@gmail.com
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