Home Inspections
- A home inspection is meant to detail problems with a house and if they’re serious enough to prevent a sale. The three main points of an inspection are physical condition, items in need of repair or replacement, and remaining useful life of major systems.
- It’s a good idea to be present during the inspection: you can ask questions and the inspector can point out areas of potential trouble and offer maintenance tips.
- Expect an inspection to take 2-5 hours (old homes may take longer) and to cost $200-$600, depending on size.
- To hire an inspector, get recommendations from others or check the phone book under “Home Inspection.” Be sure to ask about references, memberships in professional associations, training, and experience.
- Inspections are done to make sure that the home is safe and secure.
Appraisals
- A home appraisal is an impartial valuation of a property’s worth at a given time from a licensed appraiser.
- A home appraisal will determine the value of your property will be based on its condition, the square footage, number of rooms, amenities (like having a pool, or a stream on the lot), and recent sales of similar properties in the neighborhood.
- Most appraisers must do a complete visual inspection of the interior and exterior, and note any conditions that adversely affect the property’s value, including needed repairs.
- However, before you agree to a quote and book a date for an appraisal, consider setting enought time to set aside to clean and declutter your home. Realtor.com recommends making any minor repairs, touch-ups that make your home appear worse than it is (e.g., like a running toilet, or walls that could use fresh paint, make sure all light fixtures are in working order with new lightbulbs, cover all electrical outlets and boxes). You do not have to go overboard - a few bucks can go along way in getting the best appraisal.
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To find appraisers who are located in your state, as they tend to have more famiiarity with the properties from which you live, The Appraisal Institute, an association of professional real estate appraisers has a look-up tool here. (Right Click and Open in new tab or window)
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To find appraisers who are located in your state, as they’ll tend to have more familiarity with properties where you live. If you ever need to verify an appraiser’s license, you can do so using this state-by-state list of agencies here (Right Click and Open in new tab or window).