Not all inspections are created equal.
An Inspection is a visual inspection of a property whether it is residential or commercial and is typically referred to in our market as a home inspection. The home inspector will check the mechanical systems such as HVAC, electrical and plumbing, as well as the appliances. They will also inspect the roof and all exterior components of the dwelling and then provide a completed report addressing any noted deficiencies. Many buyers will use this resource to ensure they have a thorough understanding of the condition of the property prior to purchase.
An Appraisal Inspection is a much different approach. The appraiser will measure the exterior of the home, and then complete a non-intrusive interior inspection. The appraiser is identifying the number of rooms, bedrooms, bathrooms, the quality of the finishes and materials used, as well as the condition of the home. We are noting the “effective age” of the property as well as identifying any deficiencies or obsolescence. For certain lending transactions the appraiser will check functionality of a representative number of electrical outlets and appliances, as well as looking inside the attic.
In both instances, the personal property of the homeowner will have no impact on the outcome.
Appraisers and home inspectors both play a vital role in the real estate transaction, and their roles are often misunderstood by buyers and sellers. An easy way to remember the difference could be as simple as an inspector will complete an intrusive inspection.
Send us your appraisal related questions anytime to DietzAppraisal.com.