Is an Appraisal a Home Inspection?
Many people wonder about the difference between a property appraisal and an inspection, and how each is used during the home buying process.
An appraisal is a formal assessment of the value of the home or property.
When you are financing a property, the lender will typically need an appraisal to determine the value of the home to ensure the loan amount does not exceed the actual value. Some appraisals depending on the type of loan may be some what more in depth. My experience working with buyers that may be purchasing a home using VA Financing I have noticed that VA Appraisals are very detailed and may notice more than others.
The inspection is almost always paid for by the buyer to determine if any problems exist with the home. Your agent should always include this in your Sales Contract.
As an experienced agent, I will also keep an eye out for any conditions that I feel could possibly be a lender condition and let the buyer know ahead of time.
I would be happy to discuss your options and show you what homes are available in Fredericksburg, Stafford and surrounding areas in Virginia.
Lets get started today give me a call 540-834-6924. Get a proactive approach and find your dream home with The Pam Martin Team
Search Is an Appraisal a Home Inspection? Homes for Sale
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which A Pam Martin Listing, Powered By eXp Realty participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than A Pam Martin Listing, Powered By eXp Realty are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
©2019 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: Jun 17, 2019 3:32:pm.
Today's Market Trends for Is an Appraisal a Home Inspection? *
* All data pertains to single-family homes