Buying a Home
The Difference Between a Home Inspection and an Appraisal
Two different reports, two different purposes.
3 minute read
A home inspection evaluates the condition of a property and is generally ordered for the buyer's information. An appraisal is an opinion of value prepared by a licensed appraiser, typically ordered by a lender.
They serve different purposes, are performed by different professionals, and answer different questions. An automated online estimate is not an appraisal.
This article is educational and is not legal, tax, lending, or investment advice.
Real estate involves risk and does not guarantee appreciation, income, tax savings, or financial returns. Information on this website is educational and is not legal, tax, accounting, lending, or investment advice. Consult appropriately licensed professionals regarding your individual circumstances.