TAYLORed Realty Team - Whats The Difference Between An Inspection And An Appraisal

Many people are under the impression that inspections and appraisals are the same thing. In reality, they are two different things that serve two completely different purposes. Inspections are done by homebuyers themselves prior to finalizing a contract and focus on identifying healthy and safety issues. Appraisals, on the other hand, are ordered by the buyer’s mortgage lender to ensure that what the buyer is offering to buy the home for is a fair price.