If you are newer to the home buying market, you might be confused by all the different inspections and checks your home needs. How many inspections do you need? Is an appraisal required? Does an appraisal act as a Tampa home inspection? These are all important questions that need to be answered so you don’t get swindled or miss important red flags in your new home.
A Tampa home inspection is going to go over things like structural damage, plumbing, and roofing problems. This is a very important step in the home buying process that will ensure your home is safe and not full of hidden problems. An appraisal, however, simply checks the value of your home; this is important when you are working with a lender, because they need to ensure the home you are buying has value and wont depreciate before you pay them back. An appraisal is not going to inform you of damages to the home or areas that need to be replaced; it will simply confirm the price you are paying is what the home is worth.
These major differences between a Tampa home inspection and an appraisal mean that they cannot stand in for one or the other. Both of these processes provide a key function when buying and selling a home. An appraisal will inform you that you are in a desirable neighborhood, the upgrades and renovations around the home, while an inspector is going to work with the buyer to keep them informed of damage.
Both inspections and appraisals are taking a close look at the home, but for different reasons. Hire your trusted home inspector to obtain knowledge on your new home and an appraiser to satisfy your lender on the value of your new home.