Appraisal vs. Inspection
An appraisal and a home inspection serve two very different purposes in a real estate transaction. An appraisal determines the market value of a property for the lender, while a home inspection evaluates the physical condition of the property for the buyer.
The appraisal protects the lender by confirming the home is worth the agreed purchase price. The inspection protects the buyer by identifying potential repairs, safety concerns, or maintenance issues. Both are important, but they are not the same thing.
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