[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f13ctjjvmj1i9m":3,"$ffeh0925h8cuz":38,"$fbwk2pqjjqsc7":42},{"item":4,"previous":26,"next":32},{"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":24,"updatedAt":25},55477,"the-difference-between-an-inspection-and-an-appraisal","The Difference Between an Inspection and an Appraisal","\u003Cp>When you decide to buy your first home, you may come across a number of terms and conditions you’re not familiar with.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240625\u002F20240627-The-Difference-Between-an-Inspection-and-an-Appraisal-original.png","\u003Cp>When you decide to buy your \u003Ca href=\"\u002F2024\u002F06\u002F11\u002Fsavings-strategies-every-first-time-homebuyer-needs-to-know\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">first home\u003C\u002Fa>, you may come across a number of terms and conditions you’re not familiar with. While you may have a general idea of what an inspection is, maybe you’re not sure why you need one or how it’s different from an appraisal. To keep it simple, here’s an explainer of each one and what they mean for you as a homebuyer.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Home Inspection\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Once you’re under contract on a home you’d like to buy, getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home – which is important for such a \u003Ca href=\"\u002F2024\u002F05\u002F30\u002Fthe-biggest-mistakes-buyers-are-making-today\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">big transaction\u003C\u002Fa>. As a recent \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fadvice\u002Fbuy\u002Fshould-i-waive-a-home-inspection\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cem>Realtor.com\u003C\u002Fem>\u003C\u002Fa> article explains:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>A home inspection is something that protects your financial interest\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> in what will likely be the largest purchase you make in your life—one in which you need as much information as possible.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>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 have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. And don’t worry – you don’t have to go through that process alone. Your real estate agent will be your advocate and negotiate with the seller for you.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Home Appraisal\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>While the inspection tells you about the current state of the house, an appraisal gives you its value. \u003Cem>Bankrate \u003C\u002Fem>explains:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“When buying or selling a home, \u003C\u002Fem>\u003Cstrong>\u003Cem>an appraisal verifies that the sale price of the home is in line with fair market value. This ensures the homebuyer doesn’t pay more than the home is worth\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>, and the mortgage lender doesn’t lend more than it is worth.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal protects you from overpaying and the bank from lending you more than the home is worth.\u003C\u002Fp>\u003Cp>And if there’s ever any confusion or discrepancy between the appraisal and the agreed-upon price in your contract, your trusted real estate professional will help you navigate any additional negotiations to try to close the gap.\u003C\u002Fp>","\u003Cp>The inspection and the appraisal are different but equally important steps when \u003Ca href=\"\u002F2024\u002F06\u002F03\u002Fmore-than-a-house-the-emotional-benefits-of-homeownership\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buying a home\u003C\u002Fa> – and you don’t need to manage them by yourself. Let’s connect today so you have expert guidance from start to finish.\u003C\u002Fp>",false,[16,20],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},323,"Buying Tips","buying-tips","2024-06-27T10:30:00Z","2024-06-27T10:30:21Z",{"id":27,"slug":28,"title":29,"featuredImage":30,"publishedAt":31,"contentType":10,"isVideo":14},55194,"focus-on-time-in-the-market-not-timing-the-market","Focus on Time in the Market, Not Timing the Market","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240620\u002F20240626-Focus-on-Time-in-the-Market-Not-Timing-the-Market-original.png","2024-06-26T10:30:00Z",{"id":33,"slug":34,"title":35,"featuredImage":36,"publishedAt":37,"contentType":10,"isVideo":14},55688,"housing-market-forecast-for-the-2nd-half-of-2024-infographic","Housing Market Forecast for the 2nd Half of 2024 [INFOGRAPHIC]","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240627\u002FHousing-Market-Forecast-for-the-2nd-Half-of-2024-KCM-Share-original.png","2024-06-28T10:30:00Z",{"cover":39,"open":40,"shareSpread":41},"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",[43,47,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,120,124,128,129,133,137,141,145,149,153],{"id":44,"name":45,"slug":46},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":49,"name":50,"slug":51},6,"For Sellers","sellers",{"id":53,"name":54,"slug":55},7,"Foreclosures","foreclosures",{"id":57,"name":58,"slug":59},8,"Infographics","infographics",{"id":61,"name":62,"slug":63},9,"Home Prices","home-prices",{"id":65,"name":66,"slug":67},11,"First-Time Buyers","first-time-buyers",{"id":69,"name":70,"slug":71},34,"Senior Market","senior-market",{"id":73,"name":74,"slug":75},35,"Mortgage Rates","mortgage-rates",{"id":77,"name":78,"slug":79},38,"Move-Up","move-up",{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":21,"name":22,"slug":23},{"id":130,"name":131,"slug":132},324,"Downsize","downsize",{"id":134,"name":135,"slug":136},325,"Economy","economy",{"id":138,"name":139,"slug":140},326,"Equity","equity",{"id":142,"name":143,"slug":144},327,"Forecasts","forecasts",{"id":146,"name":147,"slug":148},328,"Selling Tips","selling-tips",{"id":150,"name":151,"slug":152},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":154,"name":155,"slug":156},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]