What's the difference between an appraisal and a home inspection?
An appraisal determines the market value of a property based on comparable sales, market conditions, and property characteristics. A home inspection evaluates the physical condition of the property, identifying potential issues with systems, structure, and components. While both are important in real estate transactions, they serve different purposes. Appraisals are typically required by lenders, while inspections are usually optional but highly recommended for buyers.
Related Questions
How long does a residential appraisal take?
At GG Appraisals, we pride ourselves on our 24-hour turnaround time for residential appraisals. This rapid service ensures you can move forward with your real estate transaction, refinancing, or other needs without unnecessary delays. Our efficient process doesn't compromise on accuracy or thoroughness—we deliver fast, credible appraisals that meet all industry standards and regulatory requirements.
What information do I need to provide for an appraisal?
To ensure an accurate and efficient appraisal, please provide: property address, square footage, number of bedrooms and bathrooms, lot size, year built, recent renovations or improvements, and any relevant property documentation (such as previous appraisals, surveys, or inspection reports). If you're refinancing, information about your current mortgage can also be helpful. Our team will guide you through the process and let you know exactly what's needed.
Can I be present during the appraisal?
While you're welcome to be available to provide access to the property and answer any questions about recent improvements or unique features, appraisers typically conduct their inspection independently to maintain objectivity. If you have specific information about renovations, upgrades, or property features that might affect value, feel free to provide this documentation in advance or leave it for the appraiser during the inspection.
Still have questions?
Contact us for personalized assistance with your appraisal needs.
Related Pages
Understanding Residential Appraisals
Learn about the appraisal process, what appraisers look for, and how property values are determined.
Property Tax Appeals
Discover how accurate appraisals can support your property tax appeal and potentially lower your assessment.
Market Insights
Stay informed about real estate trends and market conditions in Pennsylvania and Arizona.