CHARLOTTE – As someone enters into a home purchase agreement, there are plenty of “checklist” items to complete. That can range from securing financing, all the way to making sure the moving trucks are booked for your closing day. A couple of the most important aspects of a home purchase, throughout the process, would be the appraisal and inspection. Many people ask if the lending institution requires an appraisal, why would I need an inspection? The answer is that they are two different services, both of which are important.
An appraiser is going to review the property in light of trying to establish the value of the home. The individual is going to review basic items like running water, air/heat, and note any defects they see, but their main focus is to compare this home to other homes that have sold to derive at a “value.” Therefore, they are more so looking at what is the home worth, in comparison to others.
On the contrary, an inspector is not going to spend their time deciding how much the home is worth. The inspector is going to check the home from top to bottom (attic to crawl) making sure that there are no defects to the property now and/or any red flags that could create potential issues when the home is yours. With the help, and combination, of a good inspector and appraiser, the client will know exactly what to expect when purchasing their new home!
If you are to have any questions in regard to the homebuying process, please do not hesitate to call/text/email firstname.lastname@example.org / (704) 430-6138.