Your rights and options when a home is appraised
Appraisal vs inspection
Know this
An appraisal estimates market value for the lender. An inspection examines the home's condition for the buyer. Lenders usually require the appraisal; inspections are typically the buyer's choice. Neither replaces the other.
Last reviewed against the primary sources listed below.
Compare
| Appraisal | Inspection | |
|---|---|---|
| For | Lender | Buyer |
| Answers | Value | Condition |
| Usually required | Yes | Buyer's choice |
Appraisal questions
Is an appraisal the same as an inspection?
No; one estimates value and the other checks condition.
Do I need both?
Lenders usually require the appraisal; inspections are your choice.