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

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2018-08-29  · What’s the Difference Between Your Home’s Market and. valuated to issue a mortgage for a home. An appraisal typically costs between $300.

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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.

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An FHA Inspection Determines a Home’s Value. Many home mortgage loans are backed and insured by the Federal Housing Administration. Because the lender isn’t there to see the property firsthand, set of eyes and ears on site is important.

A new home is a big investment, so you need to know what you’re buying. Home Inspectors and Home Appraisers are great assets because they will lay out all the facts on the value and the condition of the home you are considering. Read more about the difference between appraisals and inspections!

A Final Note on Paying for a Home Inspection. Based on all the added expenses that you might end up paying without a home inspection such as fixing a broken water heater, plumbing issues, and foundation problems, the minimal cost of $200-$600 is definitely worth it.

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