Both a home inspection and an appraisal are designed to protect you against potential issues with your new home. Although they have totally different purposes, it makes the most sense to rely on each to help confirm that you’ve found the perfect home.
Home inspectors perform detailed inspections and can educate you about possible concerns or defects with the home. This is your opportunity to gain knowledge of major systems, appliances and fixtures, learn maintenance schedules and tips, and to ask questions about the condition of the home. This is normally done first to make sure everything checks out before you move forward with the appraisal.
The appraiser will determine the home’s fair market value based on the analysis of the property and recent sales in the area. They will make note of obvious interior or exterior damage that could impact the property.
Mortgage Monkey is a Portland based mortgage lender dedicated to putting people first. I specialize in helping clients in Oregon, Washington, California & Arizona get solid secure home financing.
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3636 NE Broadway Street
Portland, OR 97232
Not All Applicants will qualify, Terms Subject to Change Without Notice, Not a Commitment to Lend.
The views expressed here are my personal views and do not reflect the views of my employer.