How is an appraiser different than a home inspector?
(Go to list of questions) Appraisers do not do complete home inspections and are not home inspectors. The purpose of a home inspection is to evaluate the structure of the property from bottom to attic. Commonly, a home inspection report will evaluate the amenities and the requirements of the home: air conditioning (weather permitting), electrical functions, the condition of the heating system, the plumbing; then the structural integrity of the home such as the attic, accessible insulation, walls, floors, ceilings, windows, then the foundation, basement and other visible structures. Is an appraisal the same as a comparative market analysis(CMA)? (Go to list of questions) Honestly, they share nothing in common. The CMA relies on vague local market trends. An appraisal is based on comparable sales that can be validated by public record. In addition, the appraisal checks other factors like condition, area and construction prices. A CMA delivers a “ball park figure.” An appraisal delivers a
Related Questions
- I just had an Appraisal done 1 month ago, but decided to use a different lender. Can the Appraiser change the name of the client on the original report to the new lender?
- If I hold a real estate brokers, salespersons or an appraiser license, are my education requirements for registration different?
- Is a designated appraiser really different from a state licensed (non-designated) one?
