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Whats the difference between an appraisal and an inspection?

April 26, 2017appraisal difference inspection

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Whats the difference between an appraisal and an inspection?

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An appraisal is a professional opinion or estimate of the market value of a property. Your mortgage company will often charge an appraisal fee, when you apply for the loan, to determine whether the value of the property is sufficient to secure the loan amount.