What is the Difference Between a Home Appraisal and Home Inspection
When buying or selling a home in California, it is essential to understand the difference between a home appraisal and a home inspection. While these two terms are often used interchangeably, they serve very different purposes. In this blog post, our Hawk & Dove Real Estate Group team will discuss the difference between a home appraisal and a home inspection so you can feel confident going into the home-buying process. Read on and contact us for advice on buying a California home!
Home Appraisal
A home appraisal is essentially avaluation of the value of a property. It is typically required by a lender when a homebuyer is seeking a mortgage to purchase a home. The appraisal is conducted by a licensed appraiser who assesses the property’s market value based on its condition, location, and other factors.
During a home appraisal, the appraiser will examine the property’s exterior and interior, take measurements, and make note of any upgrades or improvements. They will also look at the current real estate market conditions and analyze recent sales of similar properties in the area to determine the property’s value. The appraiser will then provide a written report to the lender, which includes the property’s appraised value.
Home Inspection
A home inspection, however, is a thorough examination of a property’s condition. It is typically conducted by a licensed home inspector, who will evaluate the home’s major systems, including the roof, foundation, plumbing, electrical, and HVAC systems.
During a home inspection, the inspector will examine the property’s exterior and interior, including its structure, appliances, and other features. They will also typically look for signs of damage, wear and tear, and safety issues. After the inspection, the inspector will provide a written report to the buyer, which outlines any issues or concerns that were identified during the inspection.
Key Differences Between Appraisals & Inspections
The key difference between a home appraisal and a home inspection is their purpose. A home appraisal is intended to determine the value of a property, while a home inspection is intended to identify any issues or concerns with the property’s condition. If you’re interested in a specific property in the Fullerton area, Hawk & Dove Real Estate Group can help you negotiate with a lender and determine if a home appraisal or inspection has occurred. Let us help you stay on top of everything and all the essential paperwork.
Buying Your California Home With Hawk & Dove Real Estate Group
A home appraisal and a home inspection are two essential services that play a critical role in the California home buying process. Understanding the difference between these services is essential to ensure that you are getting the information you need to make informed decisions. Contact Hawk & Dove Real Estate Group today to learn more about how we can help you!