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How is Market Value Determined? Home Appraisal vs Home Inspection
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Home Appraisal vs Home Inspection A Home Appraisal is not a home inspection and the appraiser is not acting as a home inspector when preparing the appraisal report. When performing the appraisal of the property the appraiser visually observes areas that are readily accessible. The appraiser is observing the condition of the property and its amenities. The appraiser will note any deferred maintenance as observed and adjust accordingly if significant enough to affect the properties marketability and/or value. A Home Inspection involves a evaluation of the condition of the home's heating, central air conditioning, plumbing, electrical systems, roof, attic, floors, foundation and structure. The borrower has the right to have a home inspection by a professional home inspector. Whereas the home appraisals primary purpose is to determine the market value of a particular property, the primary purpose of a home inspection is to highlight items that may be in need of repair or replacement. |
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Sharon Auffet Appraisal
Services
501 Magnolia Trail |