What’s the difference between an appraisal vs. an inspection? 🤔

⚠️ They are both crucial steps in the home buying process to ensure you’re making a wise investment and they truly are very different.

→ An appraisal is an assessment done by a licensed appraiser to determine the fair market value of a property.

This helps lenders ensure that the property’s value supports the loan amount as the lender will only loan based on the appraisal amount (not your offer price)💰

→ An inspection is a thorough examination of a property’s condition, typically conducted by a certified home inspector or a licensed contractor.

It identifies any potential issues or repairs needed, helping buyers make informed decisions 🛠

It’s important to understand the difference and how they both benefit you. If you have any real estate questions, please don’t hesitate to reach out! 📲

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