Tag Archives: home inspection

The Differences Between a Home Appraisal and Inspection

When purchasing a home there are many things that can be overlooked. A thing that one must keep in mind when buying a house, especially for first-time home buyers, is the differences between an Appraisal and an Inspection. A Home Appraisal and a Home Inspection are reports based on the inspection of a home but they each have different requirements or elements to them. An appraisal is used to determine the market value of a home and is required by the mortgage lender. An inspection is a more detailed evaluation of the home usually requested by the home buyer and is not required by the lender.

When a home buyer needs to borrow money, known as a mortgage, the lender will require an appraisal of the home to provide a more accurate estimate of the home’s value.  Home appraisals are usually short and do not take much time. The real estate appraiser will assess the actual home as well as provide a comparison of homes that have been sold in the same neighborhood, usually within the last year.

Home inspections are more detailed and are requested by the home buyer since they are not required for the home seller to provide. A home inspector will evaluate the details of the home like the AC, plumbing, electrical, and other areas alike. Though they are not required, home inspections are strongly recommended so that the buyer has a more accurate depiction of the property that they are buying.

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What Is The Difference Between The Home Inspection And The Appraisal ?

Buying a home is a very big step and its usually very scary and exciting at the same time.  It really is a big step and of course a lot of stress that comes with it, especially that you want to make sure that you are making the right decision and that the home that you are buying does not have an issues.  That can be a nightmare to know that after all the heartache you went through to get the home loan and now that you owe all this money, that the house you bought is full of issues and its just one thing after another.

Legally when buying a home the seller does have to disclose to you an issues that the home has.  But that is not to say that someone would not mislead or that at the time the really had no issues but due to age and wear and tear it was just a matter of time.  Not to mention if you are buying a foreclosure its a complete buyer beware situation.  In other words its up to you to know if there are any issues with the home.

If you are getting a home loan you have to get an appraisal there is not what if’s about it and of course its not free.  Usually run about $450.00 to 550.00.  Now you do not have to get a inspection but it is recommended.  The appraiser not only provides a report on what the value of the home is but also the condition.  The appraiser is looking for issues that may need to be addressed and he looks for any safety issues that will affect anyone living in the home.  He makes sure there are no roof leaks or loose electrical wiring, plumbing is working etc.  He basically looks for the basics to insure the lender is making a good loan on the property.   But the appraisal must be submitted to the lender doing the loan since it is ordered through the lender.   What ever concerns that the appraiser thinks is an issue will have to be addressed and many times someone will have to make the repairs necessary before the transaction can go forward.

Home inspector will look for every thing from top to bottom.  He will crawl in the attic space he will go under the house.  He will go where no appraiser has gone before.  Now the home inspection is not mandatory but it is recommended.  Many times I get asked if they have to do the home inspection because we got the appraisal done.   The answer is you do not but its for your best interest to know as much as you can about the house being that you are not buying TV, and there is no taking this back to the store.   But keep in mind unless it is something that is structural or a health issue.  What your home inspector finds  does not mean the lender will care to know.  Also the home inspection is not submitted to the lender either.  You can use what comes out in the home inspection to ask for any repairs, but it will be up to the seller whether they want to comply or not.

Any questions just let me know .. Good LUCK !!

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Why You Need To Get A Home Inspection

Finding the right Inspector, Is one way to achieve the rule of real state and that is to get your money’s worth , and to insure that you are getting a good investment.  Typically most agents will recommend a client when buying one of the homes in Santa Maria that they get home inspection.  The reality is you are not buying T.V. or even a used car.  When you end up having serious problems wiht a home it can cost you more than what you bought the home for.  So a home inspection can also buy you peace of mind. This will grant you to locate a property that is worth the cost.  There can be larger problems that you may encounter before you move in to your house, like electricity, water supply, plumbing, furnace and heat supplies, and generally build your home. And to make sure that everything is built up to standard. All of these are the issues can be something that an Inspector can help find.


There are numerous who have saved thousands of dollars by having an Inspector to look at what is in the home and how it needs to be changed.  Reality is that just because the Inspector says there is something wrong in your house,does not mean you have to cancel either.   Many of the Santa Maria homes for sale in Santa Maria, California are not perfect most homes are not.  But you may want to know for your own peace of mind what are the issues the home may have.  Many times you will find that the issues that the home has are really minor and nothign to worry or stress over.  But then you have the right to request repairs that will be an issue.  Just keep in mind we are talking about repairs that affect the integrity of the home not neccessarily anything cosmetic.  Being that in most markets you may be dealing with a foreclosure or short sale the bank will not look at any repairs that are cosemetic.  Only those that may be considered a lending condition for the loan.  Now if you and the seller can come to terms on the repairs needed you do have the right to ask for repairs or the money back that used for the deposit for the home. So you need to make sure that you choose the right Inspector, that you feel you and your agent can do a complete and competent job.  Sometimes the real state agent will have a given inspector that they like to work with. After all you can still provide your own Inspector by contract, This will help you to move into your home without any problems with a possible spare before you move in.

It is important to hire an inspector as a part of the process of buying a house. It will help to clarify and define the standard of the home and can lesser the burdens in the future.  First, before you sign any of your loan documents, good luck out there and remember that with rates at all time 50 year lows and values being what they are you can still find great deals out there.

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