[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f2u42zipxqiig":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1806,"whats-the-difference-between-an-appraisal-and-a-home-inspection","What’s the Difference between an Appraisal and a Home Inspection?","If you’re planning to buy a home, an \u003Ca href=\"https:\u002F\u002Fcdn.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002Fvaluation-appraisal-for-homebuyers-12-2020.pdf\">\u003Cstrong>appraisal\u003C\u002Fstrong>\u003C\u002Fa> is an important \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F12\u002F04\u002Fthe-path-to-homeownership-infographic\u002F\">step\u003C\u002Fa> in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a \u003Cstrong>home inspection\u003C\u002Fstrong>, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F25122120\u002F20210126-KCM-Share.jpg","If you’re planning to buy a home, an \u003Ca href=\"https:\u002F\u002Fcdn.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002Fvaluation-appraisal-for-homebuyers-12-2020.pdf\">\u003Cstrong>appraisal\u003C\u002Fstrong>\u003C\u002Fa> is an important \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F12\u002F04\u002Fthe-path-to-homeownership-infographic\u002F\">step\u003C\u002Fa> in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a \u003Cstrong>home inspection\u003C\u002Fstrong>, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>Home Appraisal\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR) \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fappraisal-valuation\u002Fresidential-appraisal-process-for-home-buyers\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cstrong>\u003Cem>“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised!\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nWhen you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.\r\n\r\nThis is especially critical in today’s \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F12\u002F10\u002Fwhy-it-makes-sense-to-sell-your-house-this-holiday-season\u002F\">sellers’ market\u003C\u002Fa> where low \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F01\u002F14\u002Fwhy-right-now-may-be-the-time-to-sell-your-house\u002F\">inventory\u003C\u002Fa> is driving an increase in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F10\u002F16\u002Fhow-to-prepare-for-a-bidding-war-infographic\u002F\">bidding wars\u003C\u002Fa>, which can push home \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F01\u002F11\u002Fwhat-does-2021-have-in-store-for-home-values\u002F\">prices\u003C\u002Fa> upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.\r\n\r\nHowever, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process.\r\n\u003Ch4>\u003Cstrong>Home Inspection\u003C\u002Fstrong>\u003C\u002Fh4>\r\nHere’s the key difference between an appraisal and an inspection. \u003Cem>MSN\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.msn.com\u002Fen-us\u002Fmoney\u002Frealestate\u002Fwhat-is-a-home-appraisal-everything-you-need-to-know\u002Far-BB17nckC?fbclid=IwAR2hDqkZowDqKWBcb7DxAI_iy37ONH_n3-B1XBOYdN0_resgnZr163iZ9j0\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThe home \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2019\u002F10\u002F01\u002Fwhat-to-expect-from-your-home-inspection-2\u002F\">inspection\u003C\u002Fa> is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nThe appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire homebuying process.","\r\nThe appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire homebuying process.",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},38,"Move-Up","move-up","2021-01-26T10:00:36Z","2021-03-04T21:15:26Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},1805,"why-moving-may-be-just-the-boost-you-need","Why Moving May Be Just the Boost You Need","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F22120816\u002F20210125-KCM-Share.jpg","2021-01-25T10:00:24Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},1807,"what-happens-when-homeowners-leave-their-forbearance-plans","What Happens When Homeowners Leave Their Forbearance Plans?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F26112038\u002F20210127-KCM-Share.jpg","2021-01-27T10:00:21Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,68,69,73,77,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":25,"name":26,"slug":27},{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]