An 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 and 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.