What is the Difference Between a House Inspector and an Appraiser.

boston-inspectionAn inspector is usually a building contractor or specialist. They should be hired by the purchaser to “inspect” the structure, plumbing, electrical and roofing to insure that the house being purchased is in good working and safe condition. Any defects must be disclosed and or repaired.

An appraiser is licensed under the state real estate commission and inspects appraiserand evaluates the house and property that is to be purchased for the Lender. This is done by measuring the square footage, while taking into consideration special features of the home and then using comparable sales of the same type of house or condo in a similar neighborhood to come up with the true value.  This is the final word on the true value of the property and will determine the loan amount of the mortgage.

Enhanced by Zemanta
VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.22_1171]
Rating: 0 (from 0 votes)
This entry was posted in Purchase And Rental Advice, Real Estate, Sales and tagged , , , , by Maxwell. Bookmark the permalink.

About Maxwell

MAXWELL@BOSTONLUXE.COM • CELL: (617) 543-7754 • OFFICE: (617) 267-4600 Maxwell Burke began his real estate career nearly 20 years ago doing appraisals with his father in Southern California and Northern Texas. He grew up in a family environment so oriented towards investment and real estate that to call his upbringing entrepreneurial would be a disservice. From his grandfather's multiple developments ranging from British Columbia down into Southern Mexico to his uncle's holdings in Portland, Oregon, Maxwell has been given a view not just of Boston real estate, but of American real estate. Maxwell and Drew Abysalh met in 2009 and increasingly consolidated their business models together culminating in their partnership in 2011. With over 300 real estate deals under his belt ranging from a standard rental to a $1.5 million condo conversion, Maxwell is a tremendous resource to help you realize your real estate dreams. Welcome to Boston Luxe - it's a pleasure to meet you. Google