Home Appraisal vs. Home Inspection: What's the Difference?

One thing that gets confused all the time is the difference between an appraisal and a home inspection. They're both important, but they serve 2 different purposes. An appraisal is ordered by the lender to determine the home's market value and make sure it's worth the purchase price. A home inspection focuses on the condition of the home. It looks for things like repairs, safety concerns, and anything that may need attention. So, think of it this way: The inspection tells you about the home's condition, and the appraisal tells the lender what the home is worth. Buying a home comes with a lot of moving parts. Give us a call if we can help make the process a little easier.