Real Estate Appraisal VS Real Estate Inspection

What is the difference between real estate appraisal and real estate inspection? A lot of people get them confused with one another, so here we will define each one and tell how they are different. Both are important and necessities when selling or buying a home.

Real Estate Appraisal

A home appraiser will determine the value of your home. Most of the time, they are employed by the lender to assist in determining the value of a home before a loan is made. A lender does not want to lend money on a home that isn't worth its sale price. Just remember that an appraiser is going to work in their client's behalf, who is the lender.

Real Estate Inspection

A home inspector is going to do an inspection of the home, both physically and structurally. The home inspection should also include the systems in the house, like water, electrical and plumbing connections. This is done before purchasing a home so that the prospective homebuyer knows what, if any, repairs are going to be needed. Home inspectors work for the homebuyer.