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-   -   Home inspections and Home Appraisal Same thing? (http://www.houserepairtalk.com/f45/home-inspections-home-appraisal-same-thing-9084/)

Evil Scotsman 04-21-2010 07:02 AM

Home inspections and Home Appraisal Same thing?
 
I am inheriting a house in the near future, for the probate of the will we were told we will need to get an appraisal. I would also like to find out anything that may need to be done, roof? Heater? etc. Would an appraisal accomplish that ? Would a home inspection give me an appraisal for the will purposes? Or do I need a different one for each?

Thanks

travelover 04-21-2010 07:07 AM

You need both. An appraisal is largely based on what similar homes have sold for in the area. A home inspection is a detailed look at the integrity of the house by a person trained in that skill.

oldognewtrick 04-21-2010 07:07 AM

Appraisal and inspection, 2 different things. A home inspector will tell you the condition of the systems as evidenced by a visual inspection, they cannot take things apart and look at them. A appraiser will tell you they current market value or the amount a lending institution will loan on a property.

Hope you enjoy your new property,

mudmixer 04-21-2010 07:11 AM

They are not the same and should be done by different people.

An appraisal is usually an estimate of the market value based on the recent comparable area sales, adjacent properties, the size of the home and the apparent condition exclusive of the details.

A home inspection is a visual inspection and report to provide information (not value) of the home with attention to the major systems (structure, roof, electrical, plumbing and HVAC), estimated life and general replacement cost in the future. It also points out the time-critical items that should be address by a professional familiar with the problems.

One is a financial estimate and the other is a physical summary.

Dick

handyguys 04-21-2010 09:18 AM

Yup, yup, yup - What they said ^^^^

We did a show talking about home inspections
Episode #32 – America’s top Home Inspector
and we interviewed one.

InspectorD - could have been you!

inspectorD 04-21-2010 12:34 PM

Well
 
I tipped my hat.....(oldog opening)..and handed off to the political powers that be.
Besides, folks get tired of hearin me round here after a while.

Get an Appraisal, and a Home Inspection, it will save you grief, time and money in your future.:)

jamwc6996 04-26-2010 10:46 AM

Quote:

Originally Posted by Evil Scotsman (Post 43892)
I am inheriting a house in the near future, for the probate of the will we were told we will need to get an appraisal. I would also like to find out anything that may need to be done, roof? Heater? etc. Would an appraisal accomplish that ? Would a home inspection give me an appraisal for the will purposes? Or do I need a different one for each?

Thanks

You need both. An appraisal is just that, valuation of the structures and the land and all improvements. A home inspection, is an inspection of the home and all the workings of it. A home inspection is needed to make sure that when you are buying a home, you are not buying a problem.


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