The differences between an appraisal and a home inspection are significant. The two are nothing alike; from purpose to regulation to procedure they share little beyond being common to most real estate transactions. The two are often confused by buyers and incredibly, some agents are just as baffled about by the process and role that each plays.
The appraisal process is an integral part of any mortgage loan and is highly regulated by both national and state oversight. There is a lengthy training period to become an appraiser – far longer and significantly more difficult than getting a real estate license. Appraisers, unlike agents, are required to complete a lengthy apprenticeship as well as classes and exams. In Georgia, home inspectors are not regulated in any manner; there is no licensing or oversight to become a home inspector. 
An appraisal is required if a loan is being provided by a lender. It is wise for cash buyers as well, or those with private lenders. To a large extent, it is an insurance policy for the buyer; an impartial second disinterested opinion on the purchase price.
A home inspection is not required to purchase a home although for most it’s a good idea. Again, this can be a “second opinion” from a disinterested third party; a chance for the buyer to ask questions independent of the agent.
Significant other differences exist especially when it comes to regulation and resolving issues that can arise from each. Read the detailed comparison and learn the differences between an appraisal and a home inspection.
The Hank Miller Team provides confidence to clients buying and selling homes in the North Atlanta Real Estate Market. Our unmatched sales and appraisal experience, relentless drive and ability to manage transactions allow our clients to make sound, decisive real estate decisions. We offer full time, full service, personal hands on attention and concierge level service every step of the way for perhaps the most important financial decision you’ll make.
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