(1) A home inspection is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that might affect the value of the home and the stability of your and your lender’s investment and return.
(2) An appraiser provides sellers a specific home value figure at which they recommend sellers list their home for sale. An assessor determines a home’s value to figure out the appropriate property tax for that residence. A home inspector investigates the physical structure of a house to locate any structural deficiencies and ensure everything is up to code. Common items an inspector will check for include heating and cooling systems, insulation, walls, floors, and ceilings. Any issues found in a home can lead to issues in a housing transaction.