Home / Buying / Inspections and Appraisals

by | Sep 8, 2021 | Real Estate Market, Mortgage Lenders | 0 comments

Inspections and Appraisals

These are two critical steps in your homebuying journey. Find out what you need to know and why they are so important to you and your lender.

Inspections and Appraisals
Home Inspection

Inspecting and appraising your home

Your home is one of the biggest investments you’ll ever make and getting a professional evaluation of its condition and value prior to closing is critical.

Home Appraiser

The importance of your appraisal

Once your offer is final, your lender will order an appraisal to get a professional opinion on the value of the home – versus how you and the seller value the home.

The appraisal is a necessary step in getting your financing secured and protects you and the bank by making sure the home’s value matches the agreed upon sale price. For example, your lender doesn’t want to lend $200,000 on a home that’s only worth $175,000, and you certainly don’t want to pay $200,000 for a home that’s worth much less.

The home you want to buy looked pristine and perfect when you saw it with your real estate agent.  So why bother with a home inspection?  It’s simple:  What if there is an underlying issue with the home that you can’t detect, such as an imminent plumbing issue that could cost thousands of dollars to fix?

Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any of your hard-earned money buying it.  Paying for a home inspection can be well worth it both for peace of mind and the potential cost of trouble avoided. You can choose your own inspector and your real estate agent should be able to recommend several well-qualified home inspectors if you need assistance.

What can you expect during your home inspection?

Your home inspector will climb on top of the roof, and crawl deep into the attic.  Their job is to protect your investment and find any issues with the home, including:

  • The roof
  • Plumbing
  • Electrical components
  • Appliances
  • Heating and air conditioning systems
  • Ventilation
  • Windows
  • The fireplace and chimney
  • The foundation

After inspection, the home inspector will provide you with a detailed report on the overall condition of the house, including outlining any issues and necessary, or recommended, repairs.

Having a home inspection contingency in your purchase contract is important because if any major issues are noted in the inspection report, you can renegotiate the sales price, require the seller to make the repairs, or back out of the offer altogether.

If you have any questions about this process contact The Wagner Team, we can answer any of your questions. We will be happy to. “A Higher Standard of Real Estate”

Mortgage Pre-Approval

What You Can Afford

Downpayments and PMI

Finding Your Team

Finding The Right Home

Working With Your Lender

Your Credit Score

Making Your Offer

Understanding Closing Documents

Closing Your Loan

What Buyers and Sellers Need to Know About the Appraisal Gap


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The Wagner Team

Bill Wagner – Keller Williams Atlanta Partners

Call or Text 770-316-5519