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Inspections vs. Appraisals vs. AVMs
Inspections vs. Appraisals vs. AVMs Inspections, appraisals, and automated valuation models, while related, all have different functions but can be easily confused. Let's take a closer look.
Inspections: A property inspection is ordered by the buyer and is meant to be an unbiased look at the condition of the property. While not necessarily required by a lender, an inspection protects the buyer from purchasing a home that requires expensive repairs or otherwise doesn't live up to its list price. A property inspector will examine the condition of the property inside and out, running through a checklist of areas including, but not limited to, the roof, electrical panels, wiring, plumbing, app…
