Some home shoppers confuse a Home Appraisal with a Home Inspection. They are two totally separate functions of the home buying process, but in most cases both processes must take place before a mortgage or home loan can be approved.
An appraisal must be produced on the property in order to determine is its true value or worth. This is important to the lender and to you to ensure that the loan you are obtaining is in equal ratio to the home’s va [ ... ]