Home Inspection vs. Appraisal
Do you know the difference between a Home Inspection and a Home Appraisal? They are two very different things. Sometimes buyers ask me if they really need to do a home inspection if they are having an appraisal on the property that they are buying. My answer is that you should because they are not the same thing. The home inspection is for the buyer's benefit. It does take a lot more time inside the home when it's inspected. The appraisal is for the benefit of the lender. Both of them are paid out of pocket by the buyer. They both have different purposes. Watch the video below and let me know what you think.
Every transaction is different, but hopefully this gives you a general guideline between inspections and appraisals.