What’s the Difference Between a Home Appraisal and a Home Inspection? » Mortgage Masters Group

The Difference Between Home Inspection and Home Appraisal. RI Licensed lender 20132831ll; virginia nmls ID #13589. Platinum Home Mortgage Corporation, 2200 Hicks Rd #101, Rolling Meadows, IL.

The home inspection is a professional opinion by a home inspector of the property’s condition. It is an independent, unbiased visual review and report on a home’s systems, components and conditions. Evaluation. A home evaluation is like a home inspection and an appraisal combined.

What is the difference between a building inspector and a home inspector?. What is the difference between an FHA inspection and a home inspection?. What inspections does a bank or mortgage lender need for loan approval? How to Look. at a House.

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Appraisers essentially work for the bank. The bank wants to make sure they are making a good investment by giving you a loan. If they lend you more than the home is worth, they are at risk of you just walking away from the home and the mortgage. The appraisal does protect you in a way too, though. It helps you understand the true value of the home.

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Is there a difference between FHA Inspections and Regular Inspections? Would you still hire a regular inspector? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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Purpose. One of the main differences between an FHA appraisal and a commercial property is the purpose of the valuation. Although both appraisal models are designed to determine the price of a.

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Jobs of the inspector. A home inspector’s job can affect the value or sale of a home. For example, a buyer might ask for a price reduction to reflect the need for a new furnace-but inspectors don’t have the home’s value as a priority; it’s simply their job to report the facts to both the buyer and seller. Inspections generally take about two to three hours.