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What’s the Difference Between a Home Inspection and an Appraisal?

What’s the Difference Between a Home Inspection and an Appraisal? | Keeping Current Matters

What’s the Difference Between a Home Inspection and an Appraisal?

If you’re buying or selling a home in Novi, Northville, South Lyon, Plymouth, or Metro Detroit, you may wonder what the difference is between a home inspection and an appraisal. Both are essential steps in home buying or selling but serve different purposes.

A home inspection visually examines the home’s structure, systems, and components. The inspector will look for potential problems, such as structural damage, water leaks, mold, or pests. They will also check the home’s systems, such as the electrical, plumbing, HVAC, and roofing systems. The buyer typically pays for a home inspection.

An appraisal is an estimate of the value of the home. The appraiser will consider the home’s location, size, condition, and features when determining its value. The lender typically requires an appraisal when you’re buying a home with a mortgage.

So, which one do you need?

A home inspection and an appraisal are necessary but serve different purposes. A home inspection will give you peace of mind by identifying any potential problems with the home before you buy it. An appraisal will help you make sure you’re not overpaying for the home.

If you’re buying or selling a home in Novi, Northville, South Lyon, Plymouth, or Metro Detroit, I recommend getting a home inspection and an appraisal. I can help you find qualified inspectors and appraisers in your area. Contact me today to learn more.

Jeff Duneske

With over 23 years of experience in the real estate industry, Jeff Duneske, Broker/Owner of Duneske Real Estate Advisors at Keller Williams Advantage, has established himself as a leading expert. With a career volume of over $325 million and over 1,200 properties sold, Jeff has built a reputation for excellence, earning the trust of over 1,000 clients. Born and raised in Novi, Michigan, Jeff earned the distinguished rank of Eagle Scout at just 15 years old. After graduating from Novi High School in 1996 and the Oakland Fire Academy, Jeff initially set out to become a full-time firefighter. However, after serving as an auxiliary firefighter and EMT in Novi and Walled Lake for several years without securing a full-time position, Jeff decided to shift gears and begin his real estate career in 2000. Jeff has consistently demonstrated his drive to achieve his goals throughout his career without compromising his morals, standards, or ethics for anyone or any transaction. He has served on the Professional Standards Committee for ten years and is committed to conducting business with the highest morals, ethics, and standards. Jeff's unwavering commitment to ethical and moral standards has led to a successful real estate career. Still, more importantly, it has enriched his life and the lives of others in immeasurable ways. With a steadfast purpose to lead with honor and great promise, Jeff continues to guide his clients through one of life's most significant financial transactions, helping them achieve their American Dream. If you're looking for a real estate professional who will go above and beyond to help you achieve your goals, look no further than Jeff Duneske. Contact him today to schedule a consultation and let him guide you through buying or selling your home.
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