For first time home buyers, the process can be quite overwhelming. One thing which you will have to think about is home inspections and home appraisals. These are often confused, but are not the same thing and yes, you do have to worry about both.
What is a Home Inspection?
A home inspection is a thorough, objective examination of the home's physical structure and systems. The home inspection is primarily for you. The inspector will check everything from the roof to the plumbing to the electrics and provide you with a report that lists what problems they find with the home.
You can then use this list to decide whether to go ahead with the purchase, as leverage against the Seller for a price reduction, have Seller pay closing costs, and/or…
